Transocean Ltd. (RIG) : Zacks Investment Research ranks Transocean Ltd. (RIG) as 2, which is a Buy 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. 7 more believe that the stock has more downside risks, hence they propose a Strong Sell. A total of 7 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 17 research analysts is 3.63, which indicates as a Sell.
Transocean Ltd. (RIG) : The most positive equity analysts on Transocean Ltd. (RIG) expects the shares to touch $14, whereas, the least positive believes that the stock will trade at $3 in the short term. The company is covered by 12 Wall Street Brokerage Firms. The average price target for shares are $8.46 with an expected fluctuation of $2.94 from the mean.
Transocean Ltd. (NYSE:RIG): The stock opened at $11.90 on Wednesday but the bulls could not build on the opening and the stock topped out at $12.10 for the day. The stock traded down to $11.51 during the day, due to lack of any buying support eventually closed down at $11.90 with a loss of -1.33% for the day. The stock had closed at $12.06 on the previous day. The total traded volume was 23,814,792 shares.
Also, Evercore ISI Group upgrades its rating on Transocean Ltd. (NYSE:RIG). Analysts at the Evercore ISI Group have a current rating of Hold on the shares. The shares were previously rated Sell. The rating by the firm was issued on June 29, 2016. The company shares have dropped -20.40% from its 1 Year high price. On Oct 9, 2015, the shares registered one year high at $20.31 and the one year low was seen on Feb 24, 2016. The 50-Day Moving Average price is $10.68 and the 200 Day Moving Average price is recorded at $10.27.
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.