Oceaneering International: Profit from Oil's Rise to $100

Filed under: Stocks to Buy

The price of oil could moderate in the year ahead, if U.S. and global GDP growth comes in below forecasts. Otherwise, there's a better than 50/50 chance oil arcs toward $100 -- again -- and that's a big reason I'm reiterating my buy rating for Oceaneering International (OII), first recommended on April 7, 2009 at a price of $38.01. If you bought OII in April 2009, you're up about 50%.

To be sure, renewable energy source use is on the rise, but breakthrough energy form discovery aside, oil will continue to be the world's most important commodity for at least 15-20 years, and probably for longer than that. And that bodes well for drillers and oil service companies like OII.

Continue reading Oceaneering International: Profit from Oil's Rise to $100

Oceaneering International: Profit from Oil's Rise to $100 originally appeared on BloggingStocks on Thu, 21 Jan 2010 18:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

Full story at http://www.pheedcontent.com/click.phdo?i=318709237220f1b3d4add526c28188ef