Transocean Ltd. (RIG) : Average target price received by Transocean Ltd. (RIG) is $9.48 with an expected standard deviation of $2.67. The most aggressive target on the stock is $14, whereas the most downbeat target is $5. 15 financial analysts are currently covering the stock.
Transocean Ltd. (RIG) : The consensus on Transocean Ltd. (RIG) based on 20 analyst recommendation on the company stock is 3.64, which is interpreted as a Sell recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 2 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 9 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating. 8 analyst sees the stock overvalued at current levels and advises a Strong Sell on the stock. 1 analyst also believes that the downside risk to the stock is higher and suggests a Sell on Transocean Ltd. (RIG).
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. (NYSE:RIG): The stock opened at $9.60 on Thursday but the bulls could not build on the opening and the stock topped out at $9.61 for the day. The stock traded down to $9.36 during the day, due to lack of any buying support eventually closed down at $9.55 with a loss of -1.55% for the day. The stock had closed at $9.70 on the previous day. The total traded volume was 13,667,613 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.