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OII

Oceaneering

$25.41

-0.22 (-0.86%)

, PBR

Petrobras

$10.71

-0.215 (-1.97%)

07:08
08/20/18
08/20
07:08
08/20/18
07:08

Oceaneering unit awarded four-year contract from Petrobras

Oceaneering International (OII) announced that one of its wholly owned subsidiaries, Marine Production Systems do Brasil Ltda., has secured a four-year contract with a one-year optional extension period from Petroleo Brasileiro S.A. (PBR) in Brazil. The contract will support intervention and completion operations in Brazil. Under the terms of the contract, Oceaneering will supply and operate three drill pipe riser systems with installation workover control systems, or IWOCS, along with project management, engineering and support services. The company plans to manufacture the associated umbilicals for the DPR systems at its facility in Niteroi, Brazil. Oceaneering will start constructing and building the assets in the third quarter of 2018, and expects work under the contract to commence in the third quarter of 2019. The contract value is expected to exceed $50M in revenue during the initial four-year period.

OII

Oceaneering

$25.41

-0.22 (-0.86%)

PBR

Petrobras

$10.71

-0.215 (-1.97%)

OII Oceaneering
$25.41

-0.22 (-0.86%)

04/30/18
RBCM
04/30/18
NO CHANGE
Target $26
RBCM
Outperform
Oceaneering price target raised to $26 from $22 at RBC Capital
RBC Capital analyst Kurt Hallead raised his price target on Oceaneering to $26, saying the company will be better positioned to maximize its opportunity in ROVs and Subsea products amid a shift in gears for the offshore spending cycle. The analyst is positive on the company's efforts to leverage its robotics technology beyond the traditional energy markets, even as the increased offshore activity and contract awards will likely lead to above-parity book-to-bill. Hallead keeps his Outperform rating on Oceaneering.
05/14/18
GSCO
05/14/18
UPGRADE
Target $29
GSCO
Buy
Oceaneering upgraded to Buy from Neutral at Goldman Sachs
Goldman Sachs analyst Waqar Syed upgraded Oceaneering to Buy from Neutral and raised its price target to $29 from $22. With Brent oil around the mid-$70/bbl range, Syed believes we are in the early stages of an offshore cycle. He notes Oceaneering's break-even prices for offshore projects are down 40%-60% from 2016 levels, and offshore project FIDs, deepwater IMR work, and drilling activity are poised to inflect higher, while valuation is near historical lows.
05/24/18
WELS
05/24/18
UPGRADE
Target $24
WELS
Market Perform
Oceaneering upgraded to Market Perform from Underperform at Wells Fargo
Wells Fargo analyst Judson Bailey upgraded Oceaneering to Market Perform from Underperform as he no longer sees downside risk to estimates based on a better macro outlook. The analyst also raised his price target on the shares to $24 from $17.
07/30/18
GABE
07/30/18
UPGRADE
GABE
Buy
Oceaneering upgraded to Buy from Hold at Gabelli
Gabelli analyst Simon Wong upgraded Oceaneering to Buy with a $37 private market value following the Q2 beat citing valuation and an improving offshore drilling environment.
PBR Petrobras
$10.71

-0.215 (-1.97%)

06/11/18
06/11/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. UMC (UMC) upgraded to Market Perform from Underperform at Bernstein with analyst Mark Li saying he believes the company will deliver a better capital return. 2. Petrobras (PBR) upgraded to Market Perform from Underperform at Raymond James with analyst Pavel Molchanov saying the government's "dramatic intervention" in late May to slash diesel prices in response to a national trucker strike is largely reflected in valuation. 3. Apache (APA) upgraded to Buy from Hold at Argus with analyst Bill Selesky citing the impact of rising crude oil prices as well as the management's strategy of allocating nearly 70% of its FY18 capital spending program to production in the Permian basin. 4. Match Group (MTCH) upgraded to Buy from Hold at Jefferies with analyst Brent Thill saying a survey of 600 online daters shows many users do not wish to commingle dating with social media. 5. First Data (FDC) upgraded to Buy from Neutral at Goldman Sachs with analyst James Schneider saying despite "choppy" fundamentals, the company's revenue growth is poised to improve. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/11/18
LEHM
07/11/18
UPGRADE
Target $14
LEHM
Overweight
Petrobras upgraded to Overweight from Underweight at Barclays
Barclays analyst Paul Cheng double upgraded Paul Y. Cheng to Overweight from Underweight with an unchanged price target of $14. The company's steep valuation discount "more than outweighs the underlying political risk," Cheng tells investors in a research note.
07/11/18
LEHM
07/11/18
DOWNGRADE
Target $66
LEHM
Underweight
Barclays downgrades Hess to Underweight on 'steepest' group premium
Barclays analyst Paul Cheng downgraded Hess Corp. (HES) to Underweight from Equal Weight while raising his price target for the shares to $66 from $55. The analyst says his analysis indicates Hess trades at the "steepest premium" in the group. His Guyana estimate would need to move 75%-100% higher for Hess to trade in-line with large-cap Exploration and Production companies. Cheng replaced Cenovus Energy (CVE) with ConocoPhillips (COP) as his top pick following the stock's strong share performance. He also double upgraded Petrobras (PBR) Overweight from Underweight, upgraded Husky Energy (HUSKF) to Overweight and Imperial Oil (IMO) to Equal Weight. The analyst thinks Hess and Exxon Mobil (XOM) offer the least value over the next 12 months.
08/08/18
SOCG
08/08/18
NO CHANGE
Target $13.5
SOCG
Hold
Petrobras price target raised to $13.50 from $11 at Societe Generale
Societe Generale analyst John Herrlin raised his price target on Petrobras to $13.50 from $11.00 after its Q2 results were operationally better than he had expected. Herrlin, who thinks Petrobras will likely benefit from stronger Brent pricing, lower operating costs, and new FPSOs coming onstream, keeps a Hold rating on the stock.

TODAY'S FREE FLY STORIES

ISRL

Isramco, Inc.

$110.20

-2.05 (-1.83%)

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NYT

New York Times

$34.71

0.27 (0.78%)

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New York Times CEO sells 45,000 class A common shares »

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KNL

Knoll

$20.78

0.025 (0.12%)

17:06
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17:06
Hot Stocks
Knoll CEO sells 10.2K shares of common stock »

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QEP

QEP Resources

$7.91

0.42 (5.61%)

, BX

Blackstone

$40.62

-0.1 (-0.25%)

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17:04
Periodicals
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QEP Resources

$7.91

0.42 (5.61%)

BX

Blackstone

$40.62

-0.1 (-0.25%)

WLL

Whiting Petroleum

$22.74

-0.75 (-3.19%)

CPE

Callon Petroleum

$7.62

-0.56 (-6.85%)

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USAT

USA Technologies

$5.90

-0.13 (-2.16%)

17:03
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USA Technologies extends contract of interim CFO Glen Goold »

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USAT

USA Technologies

$5.90

-0.13 (-2.16%)

17:02
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Hot Stocks
USA Technologies receives additional Nasdaq deficiency notice »

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NVRO

Nevro

$60.05

-2.235 (-3.59%)

17:02
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Hot Stocks
Nevro names D. Keith Grossman chairman of the board »

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  • 20

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STZ

Constellation Brands

$203.04

-1.79 (-0.87%)

17:01
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Periodicals
Constellation Brands gets 2nd FTC request over E.&J Gallo winery deal »

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AMRS

Amyris

$4.09

-0.15 (-3.54%)

17:01
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Amyris receives Nasdaq deficiency notification over delayed quarterly report »

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SNAP

Snap

$11.19

-0.3 (-2.61%)

16:57
05/20/19
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Hot Stocks
Snap names Derek Andersen new CFO, appoints Lara Sweet as Chief People Officer »

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  • 03

    Jun

SCON

Superconductor Technologies

$1.25

-0.065 (-4.94%)

16:52
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05/20
16:52
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16:52
Syndicate
Superconductor Technologies files to sell common stock, no amount given »

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  • 06

    Jun

CCC

Clarivate Analytics

$13.34

-0.04 (-0.30%)

, INFO

IHS Markit

$57.51

0.12 (0.21%)

16:50
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Hot Stocks
Clarivate Analytics names Jerre Stead as CEO, effective June 30 »

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CCC

Clarivate Analytics

$13.34

-0.04 (-0.30%)

INFO

IHS Markit

$57.51

0.12 (0.21%)

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NDSN

Nordson

$130.42

-4.8 (-3.55%)

16:50
05/20/19
05/20
16:50
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16:50
Hot Stocks
Breaking Hot Stocks news story on Nordson »

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  • 21

    May

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    Jun

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    Jun

EBAY

eBay

$36.56

-0.34 (-0.92%)

16:47
05/20/19
05/20
16:47
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16:47
Earnings
eBay VP Kristin Yetto sells over $940K shares of company stock »

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  • 30

    May

16:45
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16:45
General news
Fed's Williams said the Fed has changed its view on the Phillips Curve relationship »

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VNE

Veoneer

$18.89

0.02 (0.11%)

16:43
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Syndicate
Veoneer files to sell $350M of common stock, $150M of convertible senior notes »

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  • 23

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    Jun

VYGR

Voyager Therapeutics

$21.87

-0.28 (-1.26%)

16:36
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Voyager Therapeutics announces retirement of chief scientific officer Dinah Sah »

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  • 13

    Jun

OCUL

Ocular Therapeutix

$3.36

-0.1 (-2.89%)

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Breaking Hot Stocks news story on Ocular Therapeutix »

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  • 11

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HI

Hillenbrand

$38.98

0.05 (0.13%)

16:34
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Initiation
Hillenbrand initiated  »

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  • 05

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VAR

Varian Medical

$130.48

-0.26 (-0.20%)

16:34
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Earnings
Varian Medical cuts FY19 adj. EPS view to $4.55-$4.70 from $4.60-$4.75 »

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  • 20

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MRK

Merck

$78.86

0.15 (0.19%)

16:34
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Merck announces Phase 3 KEYNOTE-119 trial does not meet OS primary endpoint »

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VAR

Varian Medical

$130.48

-0.26 (-0.20%)

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Varian to acquire Cancer Treatment Services for $283M »

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  • 20

    May

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    May

NDSN

Nordson

$130.42

-4.8 (-3.55%)

16:33
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Nordson CEO says 'continue to forecast organic growth' for 2019 »

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  • 21

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NDSN

Nordson

$130.42

-4.8 (-3.55%)

16:32
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Hot Stocks
Breaking Hot Stocks news story on Nordson »

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  • 21

    May

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  • 13

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REGN

Regeneron

$302.51

-2.3 (-0.75%)

, NVS

Novartis

$82.02

-0.7 (-0.85%)

16:31
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Initiation
Regeneron, Novartis, Sanofi initiated at Credit Suisse »

Regeneron initiated with…

REGN

Regeneron

$302.51

-2.3 (-0.75%)

NVS

Novartis

$82.02

-0.7 (-0.85%)

SNY

Sanofi

$41.40

-0.53 (-1.26%)

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