Canaccord Genuity Upgrades Transocean LTD to Hold

Brokerage firm Canaccord Genuity 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 Canaccord Genuity was issued on Sep 15, 2016.

In a different note, Scotia Howard Weil said it Initiates Coverage on Transocean LTD, according to a research note issued on Sep 14, 2016. The shares have been rated ‘Sector Perform’ by the firm. On Aug 25, 2016, Citigroup said it Upgrades its rating on Transocean LTD. In the research note, the firm Raises the price-target to $7.00 per share. The shares have been rated ‘Neutral’ by the firm. On Aug 16, 2016, Jefferies said it Maintains its rating on Transocean LTD. In the research note, the firm Lowers the price-target to $11.00 per share. The shares have been rated ‘Hold’ by the firm. On Aug 5, 2016, UBS said it Maintains its rating on Transocean LTD. In the research note, the firm Raises the price-target to $11.00 per share. The shares have been rated ‘Neutral’ by the firm. On Aug 5, 2016, Susquehanna said it Upgrades its rating on Transocean LTD. The shares have been rated ‘Neutral’ by the firm. On Aug 5, 2016, JP Morgan said it Maintains its rating on Transocean LTD. In the research note, the firm Raises the price-target to $8.00 per share. The shares have been rated ‘Underweight’ by the firm.

Transocean LTD (RIG) shares turned negative on Tuesdays trading session with the shares closing down -0.12 points or -1.34% at a volume of 1,72,38,828. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $9.04. The peak price level was also seen at $9.04 while the days lowest was $8.68. Finally the shares closed at $8.84. The 52-week high of the shares is $17.19 while the 52-week low is $7.665. According to the latest information available, the market cap of the company is $3,230 M.

Transocean LTD(RIG) last announced its earnings results on Aug 3, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $943.00M. Analysts had an estimated revenue of $923.24M. Earnings per share were $0.17. Analysts had estimated an EPS of $-0.01.

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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