Oil Drop Offers Contrarian Play in Oceaneering International (OII)

The declining oil prices have taken a toll on virtually every oil producer and oilfield service provider in the past year since last July, although a recovery of oil prices is in the works.

Oceaneering International (OII) is no exception. Its stock price has dropped over 30% from $70 to the current $47 range. I love finding fundamentally strong companies like these to trade because the risks have already decreased dramatically from the large stock price drop.

Oceaneering International is an oilfield provider of engineered products and services to the offshore oil and gas industry and especially deep water applications operating in the North Sea, Africa, Brazil, Australia and Asia.

To read the rest of the story, click here to my editorial at TraderPlanet.com

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