Transocean LTD (RIG) was Upgraded by Scotia Howard Weil to ” Sector Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 14 from a previous price target of $12 . Earlier the firm had a rating of “Sector Perform ” on the company shares. Scotia Howard Weil advised their investors in a research report released on Oct 4, 2016.
Many Wall Street Analysts have commented on Transocean LTD. Transocean LTD was Upgraded by Credit Suisse to ” Neutral” on Sep 23, 2016. Transocean LTD was Resumed by Scotia Howard Weil to “Sector Perform” on Sep 14, 2016. Transocean LTD was Upgraded by Citigroup to ” Neutral” on Aug 25, 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 $10.57 and hit $10.755 on the upside on Friday, eventually ending the session at $10.66, with a gain of 0.28% or 0.03 points. The heightened volatility saw the trading volume jump to 1,55,26,408 shares. Company has a market cap of $3,895 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.