Transocean Ltd. (RIG): Price Target and June Short Interest Disclosure

Transocean Ltd. (RIG) has been rated by 13 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $14 and the lowest price target forecast is $3. The average forecast of all the analysts is $8.62 and the expected standard deviation is $2.96.

Transocean Ltd. (RIG) reported a rise of 1% or 856,174 shares in its short interest. The short figure came in at 24.9% of the total floats. The average daily volume of 16,850,912 shares suggests that the days to cover 90,849,810 short positions, as on June 30,2016, will be 5. On June 15,2016, the short interest was 89,993,636 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.

Also, Major Brokerage house, Evercore ISI Group upgrades its ratings on Transocean Ltd. (NYSE:RIG). According to the latest information available, the shares are now rated Hold by the analysts at the agency. Previously, the analysts had a Sell rating on the shares. The rating by the firm was issued on June 29, 2016.


Transocean Ltd. (NYSE:RIG): On Thursdays trading session , Opening price of the stock was $12.69 with an intraday high of $12.81. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $12.32. However, the stock managed to close at $12.41, a loss of 0.40% for the day. On the previous day, the stock had closed at $12.46. The total traded volume of the day was 10,713,590 shares.

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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