Transocean LTD (RIG) was Upgraded by Citigroup to ” Neutral”. Earlier the firm had a rating of “Sell ” on the company shares. Citigroup advised their investors in a research report released on Aug 25, 2016.
Many Wall Street Analysts have commented on Transocean LTD. Shares were Reiterated by RBC Capital Mkts on Aug 12, 2016 to “Sector Perform” and Lowered the Price Target to $ 11 from a previous price target of $14 .Transocean LTD was Upgraded by Susquehanna to ” Neutral” on Aug 5, 2016. Transocean LTD was Upgraded by Wells Fargo to ” Market Perform” on Jul 18, 2016.
On the company’s financial health, Transocean LTD reported $0.17 EPS for the quarter, beating the analyst consensus estimate by $ 0.18 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $-0.01. The company had revenue of $943.00 million for the quarter, compared to analysts expectations of $918.58 million. The company’s revenue was down -49.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.11 EPS.
Transocean LTD opened for trading at $10.03 and hit $10.33 on the upside on Tuesday, eventually ending the session at $10.25, with a gain of 1.49% or 0.15 points. The heightened volatility saw the trading volume jump to 98,76,583 shares. Company has a market cap of $3,745 M.
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.