Why Oceaneering International Stock Is Rallying Today
Shares of Oceaneering International (NYSE: OII) rallied more than 10% by 2:30 p.m. EST on Wednesday. Fueling the oil stock's rise were several contract awards.
Oceaneering International has won several significant contracts since the start of the fourth quarter totaling more than $250 million in value. The arrangements are from several major customers and range in term from three to five years. About 55% are renewals of existing contracts while the other 45% is new business.
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Source Fool.com
