Transocean Ltd. (RIG) has been under a strong bear grip, hence the stock is down -8.17% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 5.99% in the past 1 week. The stock has risen by 5.96% in the past week indicating that the buyers are active at lower levels, but the stock is down -7.82% in the past 4 weeks.
Transocean Ltd. is up 12.55% in the last 3-month period. Year-to-Date the stock performance stands at -15.27%. The stock has recorded a 20-day Moving Average of 1.38% and the 50-Day Moving Average is 6.88%.
Transocean Ltd. (NYSE:RIG): The stock opened at $10.54 on Friday but the bulls could not build on the opening and the stock topped out at $10.58 for the day. The stock traded down to $10.37 during the day, due to lack of any buying support eventually closed down at $10.49 with a loss of -1.22% for the day. The stock had closed at $10.62 on the previous day. The total traded volume was 8,519,973 shares.
Also, Equity analysts at the Brokerage firm Jefferies maintains its rating on Transocean Ltd. (NYSE:RIG). The rating major has initiated the coverage with hold rating on the shares. The Analysts at Jefferies lowers the price target from $11 per share to $10 per share. The rating by the firm was issued on August 16, 2016.
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.