Shares of Transocean Ltd. (RIG) Sees Large Outflow of Money

Transocean Ltd. (RIG) : The value of composite uptick trades was $1.71 million, whereas, the value of composite downtick trades was $2.5 million. The uptick to downtick ratio stood at 0.68 with a negative money flow of ($0.79) Million during Tuesdays trading session. The block trades money flow was negative ($0.81 million). The transaction of the trades on downticks amounted to $0.81 million, which confirms investors selling on the strength of price. Transocean Ltd. (RIG) gained 14 cents at $10.25, an increase of 1.38% over the previous days close.


Also, Citigroup upgrades its view on Transocean Ltd. (NYSE:RIG) according to the research report released by the firm to its investors. The shares have now been rated Neutral by the stock experts at the ratings house. Earlier, the shares had a rating of Sell. Citigroup raises the price target from $7 per share to $11 per share on Transocean Ltd.. The rating by the firm was issued on August 25, 2016.

Transocean Ltd. has lost 2.73% in the last five trading days and dropped 2.73% in the last 4 weeks. Transocean Ltd. is up 1.42% in the last 3-month period. Year-to-Date the stock performance stands at -19.47%.

Transocean Ltd. (NYSE:RIG): The stock opened at $10.15 on Tuesday but the bulls could not build on the opening and the stock topped out at $10.30 for the day. The stock traded down to $9.91 during the day, due to lack of any buying support eventually closed down at $9.97 with a loss of -1.38% for the day. The stock had closed at $10.11 on the previous day. The total traded volume was 10,449,783 shares.

In a related news, The officer (SVP and General Counsel), of Transocean Ltd., Sjobring Lars had unloaded 5,324 shares at $14.4 per share in a transaction on September 23, 2015. The total value of transaction was $76,666. The Insider information was revealed by 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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