Transocean LTD (NYSE:RIG) announced the schedule for the payment of the first installment of its U.S. dollar-denominated dividend. The installment is $0.15 per share, totaling approximately $55 million based upon the number of currently outstanding shares. The installment represents the first of four quarterly installments totaling $0.60 per share, or approximately $218 million in the aggregate paid from additional paid-in capital (“APIC”), approved by shareholders at the company’s 2015 Annual General Meeting.
Dividend Schedule – First Installment
- May 27, 2015 – Ex-Dividend Date
- May 29, 2015 – Record Date
- June 17, 2015 – Installment Payment Date (Original Source)
Shares of Transocean LTD closed today at $20.15, down $0.64 or 3.08%. RIG has a 1-year high of $46.12 and a 1-year low of $13.28. The stock’s 50-day moving average is $17.66 and its 200-day moving average is $18.40.
On the ratings front, Transocean has been the subject of a number of recent research reports. In a report issued on May 13, Canaccord Genuity analyst Alex Brooks reiterated a Sell rating on RIG, with a price target of $10, which represents a potential downside of 52.3% from where the stock is currently trading. Separately, on May 8, Susquehanna’s Charles Minervino maintained a Sell rating on the stock and has a price target of $14.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Alex Brooks and Charles Minervino have a total average return of -13.5% and -11.8% respectively. Brooks has a success rate of 33.3% and is ranked #3288 out of 3604 analysts, while Minervino has a success rate of 29.2% and is ranked #3542.
Overall, 6 research analysts have rated the stock with a Sell rating, one research analyst has assigned a Hold rating and one research analyst has given a a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $20.96 which is -35.2% under where the stock opened today.
Transocean Ltd is an international provider of offshore contract drilling services for oil and gas wells. The Company has two operating segments; contract drilling services and drilling management services.