Transocean Ltd. (RIG) : 2 brokerage houses believe that Transocean Ltd. (RIG) is a Strong Buy at current levels. 7 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Transocean Ltd. (RIG). Zacks Investment Research suggests a Hold with a rank of 3. 1 analysts perceive the stock to be overvalued at the existing levels, hence their call is to Sell the stock. 8 others believe that the stock has run up ahead of its fundamentals and advise a Strong Sell on the stock.The median of all the 18 Wall Street Analysts endorse the stock as a Sell with a rating of 3.71.
Transocean Ltd. (RIG) : The consensus price target for Transocean Ltd. (RIG) is $8.79 for the short term with a standard deviation of $3.25. The most optimist securities analyst among the 12 who monitor the stock believes that the stock can reach $14, however, the pessimist price target for the company is $3.
The shares have received a consensus rating of Sell for the current week Also, Equity Analysts at the Brokerage Firm, Wells Fargo, upgrades their rating on the shares of Transocean Ltd. (NYSE:RIG). Wells Fargo has a Market Perform rating on the shares. Previously, the analysts had a Underperform rating on the shares. The rating by the firm was issued on July 18, 2016.
Transocean Ltd. (NYSE:RIG): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $10.04 and $9.97 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $10.45. The buying momentum continued till the end and the stock did not give up its gains. It closed at $10.45, notching a gain of 3.98% for the day. The total traded volume was 14,582,785 . The stock had closed at $10.05 on the previous day.
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.