Stock Chalking up Significant Action in Session: Transocean Ltd. (NYSE:RIG)

20 March, 2017, 22:21 | Author: Leticia Walters
  • Borr Drilling to buy Transocean's jack-up rig fleet for $1.35bn

As of February 28th, there was short interest totalling 70,523,155 shares, a growth of 13.0% from the February 15th total of 62,394,888 shares.

Several hedge funds and other institutional investors have recently bought and sold shares of RIG. Iberia Capital initiated coverage on Transocean LTD in a research note on Friday, January 6th. BioTelemetry, Inc. (NASDAQ:BEAT) quarterly performance is 31.34% while its year to date (YTD) performance is 22.82%. Beta of Transocean Ltd. (NYSE:RIG) is 1.75 while company weekly performance is 1.71%. Analysts pegging the company with a rating of 3 would be indicating a Hold recommendation. The company has a 1 Year high price target of $14.21. They noted that the move was a valuation call.

02/09/2017 - R. F. Lafferty began new coverage on Transocean Ltd. giving the company a "buy" rating.

Price Target is basically a projection of future price of a company's stock by the expert analysis of investment analysts or investment firms.

Transocean Ltd. (NYSE:RIG) has price target of $12.505 for forthcoming year. Target prices are used by analysts and brokers in reports to show how they anticipate a share in a particular firm to perform.

RIG stock's price is now -25.15% down from its 52-week high and +49.52% up from its 52-week low.

During the 52-week period, the stock hit a high of $16.66 and a low of $8.34.

Transocean Ltd. (NYSE:RIG)'s growth estimate is -110.1 percent for the current quarter. The offshore drilling services provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.08 by $0.55. Transocean LTD had a return on equity of 6.80% and a net margin of 23.14%. Public Employees Retirement Association of Colorado increased its position in Transocean LTD by 0.4% in the third quarter. Public Employees Retirement Association of Colorado boosted its stake in Transocean LTD by 0.4% in the third quarter. The company's last traded volume of 11.8 million shares as compared to it's an average volume of 12.54 million shares. Municipal Employees Retirement System of MI boosted its stake in Transocean LTD by 0.3% in the third quarter. Perhaps it's the price of oil, which has fallen 1.2% to $48.71 a barrel this morning, and has helped sink Transocean's competitors, including Noble (NE), Atwood Oceanics (ATW), and Diamond Offshore Drilling (DO) this morning.

"We are building a platform with modern equipment, an experienced management team and a robust capital structure in order to be able to capitalise on the opportunities that will arise in this market environment", Borr said in a statement last December upon listing its shares to the Norwegian OTC market. The company also has four ultra-deepwater drillships under construction or under contract to be constructed.

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