Transocean LTD (RIG) is Upgraded by Wells Fargo to Market Perform

Transocean LTD (RIG) was Upgraded by Wells Fargo to ” Market Perform”. Earlier the firm had a rating of “Underperform ” on the company shares. Wells Fargo advised their investors in a research report released on Jul 18, 2016.

Many Wall Street Analysts have commented on Transocean LTD. Seaport Global Securities Downgraded Transocean LTD on Jul 11, 2016 to ” Sell”, Price Target of the shares are set at $10.

On the company’s financial health, Transocean LTD reported $0.69 EPS for the quarter, beating the analyst consensus estimate by $ 0.41 according to the earnings call on May 4, 2016. Analyst had a consensus of $0.28. The company had revenue of $1341.00 million for the quarter, compared to analysts expectations of $1098.67 million. The company’s revenue was down -34.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.10 EPS.

Transocean LTD closed down -0.26 points or -2.10% at $12.15 with 1,13,40,878 shares getting traded on Friday. Post opening the session at $12.61, the shares hit an intraday low of $12.125 and an intraday high of $12.675 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Sep 23, 2015, Lars Sjobring (SVP and General Counsel) sold 5,324 shares at $14.40 per share price. According to the SEC, on Sep 3, 2015, Vanessa C L Chang (director) purchased 1,500 shares at $13.50 per share price.

Transocean Ltd. is an international provider of offshore contract drilling services for oil and gas wells. The Company’s 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 Company’s 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.

Transocean LTD

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