just goes to show you, patience is always the key. To those who were whining and cursing the stock at or under $40 and either sold or were thinking about selling, What are your thoughts now? Sorry that you didnt buy when you were cursing it? Time is the great equalizer.
UBS AG increased their EPS estimates on shares of Transocean (NYSE: RIG) in a research note issued on Friday. The firm currently has a “buy” rating and a $70.00 price target on the company’s shares.
A number of other analysts have also recently weighed in on RIG. Analysts at Zacks reiterated a “neutral” rating on shares of Transocean in a research note to investors on Friday, June 1st. They now have a $43.00 price target on the stock. Separately, analysts at Guggenheim initiated coverage on shares of Transocean in a research note to investors on Tuesday, May 22nd. They set a “buy” rating on the stock. Finally, analysts at Macquarie upgraded shares of Transocean from an “underperform” rating to a “neutral” rating in a research note to investors on Wednesday, May 16th.
Transocean traded down 1.26% on Friday, hitting $43.74. Transocean has a 52-week low of $38.21 and a 52-week high of $65.41. The company’s market cap is $15.331 billion.
Transocean last posted its quarterly earnings results on Wednesday, May 2nd. The company reported $0.12 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.34 by $0.22. The company’s quarterly revenue was up 8.7% on a year-over-year basis. Analysts expect that Transocean will post $0.87 EPS next quarter.
Transocean Ltd. (Transocean) is an international provider of offshore contract drilling services for oil and gas wells.
Transocean Ltd (RIG) stock advanced 1.39 percent to $44.35 in pre-market trading. Over the weekend, RBC Capital raised Transocean's fiscal 2012 earnings estimate to $3.14 per share from $3.02 per share and fiscal 2013 earnings estimates to $4.44 per share from $4.25 per share.
Transocean LTD : Transocean Once Again Included in Top 100 Best Places to Work in IT 06/18/2012 | 12:50pm
For the third year in a row, Transocean's IT organization was listed in Computerworld 's best places to work in IT.
"Computerworld's latest recognition of our IT team and culture is especially rewarding when you consider this is our third year in a row to receive this honor," said John Truschinger, Senior Vice President, Support Services and CIO. "The organizations honored as Best Places to Work are vastly different in many ways, but they tend to share an ability to keep their most productive people on board. We are aligned with our company's vision regarding our focus on our People, Customers, and Execution. Our ability to retain top talent is one of the main reasons we are successful. Our superb IT management team and staff make Transocean a great place to work, and our philosophy that our staff has a career at Transocean and not just a job truly makes a difference. I am proud to be part of Transocean and this remarkable IT team."
Transocean's IT team is responsible for planning, developing and supporting the company's IT infrastructure, applications and IT-related services.
"The organizations on this year's Best Places to Work in IT list consistently seek out and hire the most talented IT people, offer them competitive pay and provide great benefits," said Scot Finnie, editor in chief of Computerworld. "Many of these organizations have spent years building top-notch IT workplaces, and we applaud the amazing work they've done to sustain dynamic environments where IT professionals can work with the latest technologies and play a key role in business-critical projects."
About the Best Places to Work in IT The Best Places to Work in Information Technology (IT) list is an annual ranking of the top 100 work environments for technology professionals by IDG's Computerworld. The list is compiled based on a comprehensive questionnaire regarding company offerings in categories such as benefits, diversity, career development, training and retention. In addition, Computerworld conducts extensive surveys of IT workers, and their responses factor heavily in determining the rankings
Although it is yet to be officially announced, there are rigs up for grab in the Middle East according to anonymous sources close to Transocean. Among one of the sources, “there are about 30 rigs for sale and the equity cheque is about $1 billion” with two interested bidders from the United States likely to wrap up the deal. The two companies poised to win the deal are US private equity firms, Lime Rock Partners and Castle Harlan, because they are considered as the most serious bidders’ among the lots. Transocean is a Swiss company with one the biggest offshore drilling fleet in the world and its spokesman described the reports as “market speculation” without giving any further details. A source hinted that most of the companies interested in buying the rigs originate from the United States and that many of the local investors are not interested in the affair when it was launched a while ago. Therefore, this is the second time Transocean is undertaking the initiative. In February this year, Transocean was charged US$1 billion due to its link to the 2010 Gulf of Mexico oil spill. It could be remembered that it was the proprietor of the destroyed rig during the incident, which went in to the history books as US largest offshore oil spill, involving a blowout at the Macondo well largely owned by British Petroleum (BP). Since then, the company has embarked on updating its fleet by selling out its old rigs according to its Chief Executive, Steven Newman, which he believes might raise a billion dollar or at least half of it for the project. Last year, it made a sum of $163 million from five shallow water jack-up rigs and a swamp barge.