Transocean Ltd. (RIG) : During the past 4 weeks, traders have been relatively bearish on Transocean Ltd. (RIG), hence the stock is down -11.43% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -0.15% relative to the S&P 500. The stock has risen by 0.27% in the past week indicating that the buyers are active at lower levels, but the stock is down -9.23% in the past 4 weeks.
Transocean Ltd. (NYSE:RIG): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $10.97 and $10.73 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $11.15. The buying momentum continued till the end and the stock did not give up its gains. It closed at $11.02, notching a gain of 1.75% for the day. The total traded volume was 14,146,982 . The stock had closed at $10.83 on the previous day.
The stock has recorded a 20-day Moving Average of 4.18% and the 50-Day Moving Average is 1.82%. Transocean Ltd. is up 2.8% in the last 3-month period. Year-to-Date the stock performance stands at -10.99%.
Transocean Ltd. (RIG) has been rated by 12 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $14 and the lowest price target forecast is $3. The average forecast of all the analysts is $8.83 and the expected standard deviation is $3.26.
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.