The stock of Transocean LTD (NYSE:RIG) is a huge mover today! About 9.77 million shares traded hands. Transocean LTD (NYSE:RIG) has declined 3.25% since March 2, 2016 and is downtrending. It has underperformed by 11.51% the S&P500.
The move comes after 6 months positive chart setup for the $3.54 billion company. It was reported on Oct, 5 by Barchart.com. We have $13.23 PT which if reached, will make NYSE:RIG worth $1.13 billion more.
Analysts await Transocean LTD (NYSE:RIG) to report earnings on November, 2. They expect $0.10 EPS, down 88.51% or $0.77 from last year’s $0.87 per share. RIG’s profit will be $35.33M for 25.05 P/E if the $0.10 EPS becomes a reality. After $0.17 actual EPS reported by Transocean LTD for the previous quarter, Wall Street now forecasts -41.18% negative EPS growth.
Transocean LTD (NYSE:RIG) Ratings Coverage
Out of 19 analysts covering Transocean Ltd (NYSE:RIG), 3 rate it a “Buy”, 4 “Sell”, while 12 “Hold”. This means 16% are positive. Transocean Ltd has been the topic of 46 analyst reports since August 7, 2015 according to StockzIntelligence Inc. The firm earned “Sector Outperform” rating on Tuesday, October 4 by Howard Weil. Citigroup maintained the shares of RIG in a report on Monday, May 16 with “Sell” rating. The company was upgraded on Monday, September 28 by Deutsche Bank. The rating was upgraded by Wells Fargo to “Market Perform” on Monday, July 18. The company was maintained on Tuesday, August 18 by Cowen & Co. Jefferies maintained it with “Hold” rating and $10 target price in Tuesday, August 16 report. As per Thursday, September 15, the company rating was upgraded by Canaccord Genuity. The company was maintained on Friday, August 7 by S&P Research. The rating was downgraded by on Friday, August 7 to “Sell”. The stock has “Sector Weight” rating given by KeyBanc Capital Markets on Friday, October 9.
According to Zacks Investment Research, “Transocean LTD., formerly Transocean Inc., is an international provider of offshore contract drilling services for oil and gas wells. The company offers deepwater and harsh environment drilling, oil and gas drilling management, and drilling engineering and project management services, as well as explores, develops, and produces oil and gas resources. The company is based in Houston, Texas.”
Insitutional Activity: The institutional sentiment decreased to 0.99 in 2016 Q2. Its down 0.21, from 1.2 in 2016Q1. The ratio worsened, as 63 funds sold all Transocean LTD shares owned while 110 reduced positions. 63 funds bought stakes while 108 increased positions. They now own 255.85 million shares or 3.91% less from 266.27 million shares in 2016Q1.
Ingalls & Snyder has 410,450 shares for 0.29% of their US portfolio. Moreover, Gradient Invs Ltd Company has 0% invested in Transocean LTD (NYSE:RIG) for 348 shares. Icahn Carl C, a New York-based fund reported 21.48M shares. Wedge Mngmt L Ltd Partnership Nc holds 1.49% or 544,524 shares in its portfolio. Federated Investors Pa has 0% invested in the company for 4,370 shares. Wells Fargo & Mn has 934,347 shares for 0% of their US portfolio. Lpl Fincl Ltd Liability reported 59,440 shares or 0.01% of all its holdings. Manufacturers Life Ins Co The has 0.01% invested in the company for 326,933 shares. Ridgeworth Cap Mngmt Ltd Llc holds 0% or 2,342 shares in its portfolio. Reilly Fincl Lc reported 26 shares or 0% of all its holdings. The Georgia-based Herndon Capital Management has invested 0% in Transocean LTD (NYSE:RIG). Credit Suisse Ag has invested 0.01% of its portfolio in Transocean LTD (NYSE:RIG). The Connecticut-based Aqr Cap Mngmt Limited Co has invested 0.13% in Transocean LTD (NYSE:RIG). Invesco last reported 0.04% of its portfolio in the stock. Cap Inv Counsel Inc accumulated 0.12% or 18,950 shares.
More notable recent Transocean LTD (NYSE:RIG) news were published by: Seekingalpha.com which released: “Transocean: Incredibly High Short Interest” on October 04, 2016, also Seekingalpha.com with their article: “Reliance Industries Deals A Major Blow To Transocean” published on October 05, 2016, Finance.Yahoo.com published: “Transocean Ltd (RIG): Carl Icahn Slashes Holding to 1.5%” on September 29, 2016. More interesting news about Transocean LTD (NYSE:RIG) were released by: Schaeffersresearch.com and their article: “Analyst Upgrades: Aquinox Pharmaceuticals Inc, Pandora Media Inc, and …” published on October 04, 2016 as well as Schaeffersresearch.com‘s news article titled: “4Q Odds Are Stacked Against Transocean LTD, Freeport-McMoRan Inc” with publication date: September 30, 2016.
RIG Company Profile
Transocean Ltd., incorporated on August 18, 2008, is an international well-known provider of offshore contract drilling services for gas and oil 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 gas and oil wells. The Firm operates through the contract drilling services segment. The Firm 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 across the world. The Firm owns or has partial ownership interests in and operates over 60 mobile offshore drilling, including approximately 30 ultra-deepwater floaters, over seven harsh environment floaters, over five deepwater floaters, over 10 midwater floaters and approximately 10 high-specification jackups. The Firm has approximately six ultra-deepwater drillships and over five high-specification jackups under construction or under contract to be constructed.
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