After Today’s Huge Decline, Is Transocean LTD’s Near-Term Analysis Negative?

The stock of Transocean LTD (NYSE:RIG) is a huge mover today! The stock is up 0.86% or $0.1 after the news, hitting $11.14 per share. About 761,785 shares traded hands. Transocean LTD (NYSE:RIG) has declined 23.65% since August 10, 2015 and is downtrending. It has underperformed by 19.46% the S&P500. The move comes after 6 months negative chart setup for the $3.98 billion company. It was reported on Mar, 16 by We have $10.47 PT which if reached, will make NYSE:RIG worth $238.80M less.

Out of 29 analysts covering Transocean Ltd (NYSE:RIG), 3 rate it “Buy”, 21 “Sell”, while 13 “Hold”. This means 8% are positive. Transocean Ltd was the topic in 31 analyst reports since August 7, 2015 according to StockzIntelligence Inc. Fearnley upgraded the stock on March 9 to “Reduce” rating. RBC Capital Markets maintained the shares of RIG in a report on February 12 with “Sector Perform” rating.

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.”

The institutional sentiment increased to 0.91 in Q3 2015. Its up 0.05, from 0.86 in 2015Q2. The ratio increased, as 70 funds sold all Transocean LTD shares owned while 130 reduced positions. 51 funds bought stakes while 130 increased positions. They now own 212.36 million shares or 3.67% less from 220.45 million shares in 2015Q2.

Long Oar Global Investors Llc holds 23.88% of its portfolio in Transocean LTD for 400,200 shares. Arosa Capital Management Lp owns 3.18 million shares or 5.93% of their US portfolio. Moreover, Athena Global Investors Llc has 2.42% invested in the company for 184,178 shares. The Illinois-based Fairpointe Capital Llc has invested 2.35% in the stock. Steadfast Advisors Lp, a New York-based fund reported 369,006 shares.

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