Transocean Ltd. (NYSE:RIG) : The most positive equity analysts on Transocean Ltd. (NYSE:RIG) expects the shares to touch $14, whereas, the least positive believes that the stock will trade at $3 in the short term. The company is covered by 12 Wall Street Brokerage Firms. The average price target for shares are $8.46 with an expected fluctuation of $2.94 from the mean.
Transocean Ltd. has dropped 1.16% in the last five trading days, however, the shares have posted positive gains of 20.96% in the last 4 weeks. Transocean Ltd. is up 38.58% in the last 3-month period. Year-to-Date the stock performance stands at -3.96%.
Transocean Ltd. (NYSE:RIG) : 17 analysts are covering Transocean Ltd. (NYSE:RIG) and their average rating on the stock is 3.63, which is read as a Sell. 2 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. A Zacks Investment Research rank of 2, which recommends a Buy affirms that they expect a large upside in the stock from the current levels. However, 7 analysts consider that the stock has more downward risks ahead, hence, they suggest a Strong Sell on the stock. 1 more analyst has given the stock a Sell recommendation. A total of 7 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
Transocean Ltd. (NYSE:RIG): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $11.57 and $11.20 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $11.90. The buying momentum continued till the end and the stock did not give up its gains. It closed at $11.89, notching a gain of 2.32% for the day. The total traded volume was 17,118,163 . The stock had closed at $11.62 on the previous day.
In an insider trading activity, Sjobring Lars, officer (SVP and General Counsel) of Transocean Ltd., unloaded 5,324 shares at an average price of $14.4 on September 23, 2015. The total amount of the transaction was worth $76,666, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
Transocean Ltd. is an international provider of offshore contract drilling services for oil and gas wells. The Companys primary business is to contract its drilling rigs, related equipment and work crews primarily on a day rate basis to drill oil and gas wells. The Company specializes in technically demanding regions of the global offshore drilling business with a particular focus on deepwater and harsh environment drilling services. The Companys mobile offshore drilling fleet consists of floaters and high-specification jackups used in support of offshore drilling activities and offshore support services on a worldwide basis. The Company owned or had partial ownership interests in and operated 71 mobile offshore drilling units and its fleet consisted of 44 high-specification floaters (ultra-deepwater, deepwater and harsh environment semisubmersibles and drillships), 17 midwater floaters and 10 high-specification jackups.