A Director at Transocean LTD (RIG) is Buying Shares


Today, a Director at Transocean LTD (NYSE: RIG), Vincent Intrieri, bought shares of RIG for $106.2K.

This recent transaction increases Vincent Intrieri’s holding in the company by 100% to a total of $106.5K. This is Intrieri’s first transaction since reporting a Buy transaction on CVRR back in January 2013

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Based on Transocean LTD’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $790 million and GAAP net loss of $1.14 billion. In comparison, last year the company earned revenue of $751 million and had a GAAP net loss of $1.69 billion. Currently, Transocean LTD has an average volume of 5.67M.

28 different firms, including Argus Research and BMO Capital, currently also have a Buy rating on the stock. Based on 6 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $13.37, reflecting a -19.7% downside.

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Transocean Ltd. engages in the provision of offshore contract drilling services for oil and gas wells. It also owns and operates offshore drilling fleet such as ultra-deepwater, harsh-environment, deepwater, and midwater rigs. The company was founded in 1954 and is headquartered in Vernier, Switzerland.

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