PTEN - Why Oceaneering Intl. GasLog Occidental and Patterson-UTI Energy All Rallied Strongly Today
Shares of offshore oil services provider Oceaneering International (NYSE: OII) rose as much as 10% today, ending trading with a 7% gain. That was roughly the same story as was seen at onshore U.S. drilling-services provider Patterson-UTI Energy (NASDAQ: PTEN) -- the company's stock peaked at 11% and ended at 8%.
Exploration and production company Occidental Petroleum (NYSE: OXY) witnessed a high of 10% and closed with an 8.5% advance. The stock of liquified natural gas tanker-owner GasLog (NYSE: GLOG) showed the same basic trend but its gains were more impressive. At the peak on Jan. 14, the stock was up 17%, while it closed the trading day with a nearly 16% rise.
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Why Oceaneering Intl., GasLog, Occidental, and Patterson-UTI Energy All Rallied Strongly Today