Price Target Update on Transocean Ltd. (NYSE:RIG)

Transocean Ltd. (NYSE:RIG) : The consensus price target for Transocean Ltd. (NYSE:RIG) is $8.46 for the short term with a standard deviation of $2.94. 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.

Other Equity analysts have also commented on the company shares. Brokerage firm Citigroup maintains its rating on Transocean Ltd. (NYSE:RIG). As per the latest information, the brokerage house raises the price target to $6 per share from a prior target of $4. The shares have been rated Sell. The rating by the firm was issued on May 19, 2016.

Transocean Ltd. (NYSE:RIG): stock turned positive on Thursday. Though the stock opened at $11.6, the bulls momentum made the stock top out at $12.05 level for the day. The stock recorded a low of $11.5 and closed the trading day at $12.03, in the green by 5.53%. The total traded volume for the day was 14,751,974. The stock had closed at $11.4 in the previous days trading.

The company shares have dropped -28.75% from its 1 Year high price. On Oct 9, 2015, the shares registered one year high at $17.19 and the one year low was seen on Feb 24, 2016. The 50-Day Moving Average price is $10.27 and the 200 Day Moving Average price is recorded at $10.39. On the companys insider trading activities, 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.

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