Company Update (NYSE:RIG):Transocean Ltd. Provides Fleet Status Report
ZUG, SWITZERLAND-January 15, 2015-Transocean Ltd. (NYSE:RIG) (SIX: RIGN) today issued a comprehensive Fleet Status Report which provides the current status and contract information for the company’s entire fleet of offshore drilling rigs. The total value of new contracts since the December 18, 2014 Fleet Update Summary is approximately $24 million. The report includes the following: Transocean Searcher – Awarded a one well contract in the Norwegian sector of the North Sea at a dayrate of $340,000 ($14 million estimated backlog). The rig’s prior dayrate was $368,000. M.G. Hulme, Jr. – Awarded a one well contract offshore Malaysia at a dayrate of $174,000 ($10 million estimated backlog). T… Read more »
Shares of Transocean LTD opened today at $15.21 . RIG has a 1-year high of $48.35 and a 1-year low of $15.18. The stock’s 50-day moving average is $18.04 and it’s 200-day moving average is $28.51.
On the ratings front, Transocean LTD has been the subject of a number of recent research reports. In a report published on January 8, analyst Brad Handler from Jefferies Co. assigned a Hold rating to RIG, with a price target of $17, which represents a potential upside of 11.8% from where the stock is currently trading. Separately, on December 1, Guggenheim`s Darren Gacicia downgraded Transocean LTD shares to Hold .
In total, 2 research analysts have rated the stock with a Sell rating, 2 research analysts have assigned a Hold rating and 2 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $15.21 which is 64.4% above 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.