Transocean Ltd. (RIG) : Zacks Investment Research ranks Transocean Ltd. (RIG) as 3, which is a Hold recommendation. 2 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. Not everyone is convinced about the stocks future, hence, the stock receives 1 Sell recommendation. 8 more believe that the stock has more downside risks, hence they propose a Strong Sell. A total of 9 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 20 research analysts is 3.64, which indicates as a Sell.
Transocean Ltd. (RIG) has been rated by 15 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $14 and the lowest price target forecast is $5. The average forecast of all the analysts is $9.48 and the expected standard deviation is $2.67.
Also, In a research note released to the investors, Citigroup upgrades its rating on Transocean Ltd. (NYSE:RIG).The analysts at the brokerage house have a current rating of Neutral on the shares. Earlier, the shares were rated a Sell by the brokerage firm. In a recent information released to the investors, Citigroup raises the new price target from $7 per share to $11 per share. The rating by the firm was issued on August 25, 2016.
Transocean Ltd. (NYSE:RIG): After opening at $9.26, the stock dipped to an intraday low of $9.05 on Thursday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $9.4 and the buying power remained strong till the end. The stock closed at $9.27 for the day, a gain of 1.64% for the day session. The total traded volume was 11,814,654. The stocks close on the previous trading day was $9.12.
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.