The stock of Transocean LTD (NYSE:RIG) is a huge mover today! About 10.55 million shares traded hands. Transocean LTD (NYSE:RIG) has declined 11.76% since March 16, 2016 and is downtrending. It has underperformed by 17.31% the S&P500.
The move comes after 7 months positive chart setup for the $3.88B company. It was reported on Oct, 19 by Barchart.com. We have $15.30 PT which if reached, will make NYSE:RIG worth $1.78 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 $37.02M for 26.20 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 “Neutral” rating on Friday, September 23 by Credit Suisse. The rating was upgraded by Jefferies on Monday, August 10 to “Underperform”. downgraded the stock to “Sell” rating in Friday, August 7 report. The stock has “Underweight” rating given by Barclays Capital on Monday, March 28. The firm earned “Neutral” rating on Thursday, August 25 by Citigroup. Wells Fargo upgraded the shares of RIG in a report on Monday, July 18 to “Market Perform” rating. The rating was upgraded by Zacks to “Hold” on Tuesday, August 25. The stock of Transocean LTD (NYSE:RIG) earned “Sector Perform” rating by RBC Capital Markets on Friday, August 12. Jefferies maintained it with “Hold” rating and $8.50 target price in Wednesday, September 28 report. The stock has “Hold” rating given by Evercore on Wednesday, June 29.
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 turned negative, 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.
The Tennessee-based State Of Tennessee Treasury Department has invested 0.02% in Transocean LTD (NYSE:RIG). Moreover, Victory has 0% invested in Transocean LTD (NYSE:RIG) for 4,381 shares. Teachers Retirement Of The State Of Kentucky has invested 0.01% of its portfolio in Transocean LTD (NYSE:RIG). Moreover, Camarda Financial Advsrs Limited Liability Company has 0% invested in Transocean LTD (NYSE:RIG) for 203 shares. Retirement Systems Of Alabama, a Alabama-based fund reported 881,831 shares. Highvista Strategies Lc has 99,136 shares for 0.23% of their US portfolio. Panagora Asset Mgmt last reported 915,423 shares in the company. The Iowa-based Cambridge Inv Research Inc has invested 0.04% in Transocean LTD (NYSE:RIG). Moreover, Mitsubishi Ufj Holdings Ltd has 0.04% invested in Transocean LTD (NYSE:RIG) for 1,740 shares. Analytic Investors Ltd Liability Com holds 0.02% of its portfolio in Transocean LTD (NYSE:RIG) for 157,878 shares. Aperio last reported 101,132 shares in the company. Bessemer Grp Inc holds 0% of its portfolio in Transocean LTD (NYSE:RIG) for 243 shares. Moreover, Ubs Asset Americas has 0.01% invested in Transocean LTD (NYSE:RIG) for 506,375 shares. Ingalls Snyder Ltd Co last reported 0.29% of its portfolio in the stock. Sandy Spring National Bank & Trust has 0% invested in the company for 69 shares.
More important recent Transocean LTD (NYSE:RIG) news were published by: Fool.com which released: “Investors Are Betting Big Against Transocean Ltd — Are They Right?” on October 13, 2016, also Zacks.com published article titled: “Transocean Ltd (RIG): Carl Icahn Slashes Holding to 1.5%”, Reuters.com published: “BRIEF-Transocean Ltd co’s unit prices offering of senior secured notes” on October 07, 2016. More interesting news about Transocean LTD (NYSE:RIG) was released by: Finance.Yahoo.com and their article: “Transocean Ltd. Announces 15-Month Contract For Transocean Barents” with publication date: October 03, 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.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.