Evercore ISI Group Upgrades Transocean LTD to Hold

Brokerage firm Evercore ISI Group Upgrades its rating on Transocean LTD(NYSE:RIG). The shares have been rated Hold. Previously, the analysts had a Sell rating on the shares. The rating by Evercore ISI Group was issued on Jun 29, 2016.

In a different note, On May 19, 2016, Citigroup said it Maintains its rating on Transocean LTD. In the research note, the firm Raises the price-target to $4.00 per share. The shares have been rated ‘Sell’ by the firm. On May 16, 2016, Citigroup said it Maintains its rating on Transocean LTD. In the research note, the firm Raises the price-target to $4.00 per share. The shares have been rated ‘Sell’ by the firm. On May 13, 2016, Seaport Global said it Upgrades its rating on Transocean LTD. The shares have been rated ‘Neutral’ by the firm. On Apr 22, 2016, Goldman Sachs said it Maintains its rating on Transocean LTD. In the research note, the firm Lowers the price-target to $7.50 per share. The shares have been rated ‘Sell’ by the firm. Nomura said it Initiates Coverage on Transocean LTD, according to a research note issued on Apr 7, 2016. The shares have been rated ‘Reduce’ by the firm.

Transocean LTD (RIG) made into the market gainers list on Fridays trading session with the shares advancing 7.23% or 0.86 points. Due to strong positive momentum, the stock ended at $12.75, which is also near the day’s high of $12.84. The stock began the session at $11.82 and the volume stood at 1,90,40,028 shares. The 52-week high of the shares is $17.19 and the 52 week low is $7.665. The company has a current market capitalization of $4,656 M and it has 36,52,01,710 shares in outstanding.

Transocean LTD(RIG) last announced its earnings results on May 4, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $1.34B. Analysts had an estimated revenue of $1.14B. Earnings per share were $0.69. Analysts had estimated an EPS of $0.30.

Several Insider Transactions has been reported to the SEC. On Sep 23, 2015, Lars Sjobring (SVP and General Counsel) sold 5,324 shares at $14.40 per share price.Also, 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.

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