SBM Offshore (OTCMKTS:SBFFF) Short Interest Up 26.5% in May

SBM Offshore (OTCMKTS:SBFFF) was the recipient of a significant growth in short interest during the month of May. As of May 31st, there was short interest totalling 42,000 shares, a growth of 26.5% from the May 15th total of 33,200 shares. Based on an average daily volume of 100 shares, the days-to-cover ratio is currently 420.0 days.

SBM Offshore Stock Performance

Shares of SBFFF stock opened at $25.29 on Friday. The firm’s 50 day moving average is $21.99 and its 200 day moving average is $20.14. SBM Offshore has a 12-month low of $15.00 and a 12-month high of $25.29.

SBM Offshore Dividend Announcement

The company also recently disclosed a dividend, which was paid on Tuesday, May 6th. Investors of record on Monday, April 14th were given a dividend of $0.88 per share. This represents a yield of 4.16%. The ex-dividend date of this dividend was Friday, April 11th.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley initiated coverage on SBM Offshore in a research report on Monday, June 9th. They set an “overweight” rating on the stock.

About SBM Offshore

SBM Offshore N.V. provides floating production solutions to the offshore energy industry worldwide. It operates in two segments, Lease and Operate, and Turnkey. It engages in the design, supply, installation, operation, lease, and life extension of floating production storage and offloading (FPSO) vessels, as well as semi-submersibles, tension leg floaters, turret mooring systems, floating offshore wind, and brownfield and offshore loading terminals.