ibusinesslines.com March 23, 2017

Borr Drilling to acquire 15 high-specification jackups from Transocean

20 March 2017, 09:32 | Kelvin Horton

Investor's Alert: Transocean Ltd. (RIG)

Investors Reviewing Stock: Transocean Ltd. (NYSE:RIG)

Similarly, the positive performance for the quarter recorded as 32.88% and for the year was 24.71%, while the YTD performance remained at 48.72%.

On Friday, Transocean LTD (NYSE:RIG) stock opened its trade at $12.62 and after floating in a range of $12.44 to $12.70, settled at $12.47. The company said total consideration for the transaction is expected to be approximately United States dollars $1.35 billion and includes the remaining contract backlog and remaining yard installments to Keppel for the five newbuilds. Based on an average daily volume of 14,009,016 shares, the days-to-cover ratio is now 5.0 days. Vetr downgraded Transocean LTD from a "strong-buy" rating to a "buy" rating and set a $14.89 price objective for the company.in a research report on Thursday, December 1st. The stock is now moving above its 20-Day Simple Moving Average of -11.07% with the 50-Day Simple Moving Average of -11.07 percent.

Struggling to find a way in profitable zone, the current EPS estimate trend for the next year first quarter was $0.29 while three months ago that trend was for $0.27. The firm has a market cap of $4.86 billion, a price-to-earnings ratio of 6.00 and a beta of 1.87. This contrasts with this year Q4 current estimates trend of $0.24 while for one month was for $0.22. Here, 1 indicates a Strong Buy and 5 indicates a Strong Sell. Transocean LTD had a return on equity of 6.80% and a net margin of 23.14%. The Relative Volume value measured for Transocean Ltd. (RIG) is 0.94.

Several large investors have recently bought and sold shares of the stock. This showed the surprise of 687.5% in the last quarter earnings. Municipal Employees Retirement System of MI boosted its stake in Transocean LTD by 0.3% in the third quarter. Norinchukin Bank The now owns 18,389 shares of the offshore drilling services provider's stock valued at $196,000 after buying an additional 383 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in Transocean LTD by 0.5% in the third quarter.

Norwegian rig operator Borr Drilling today struck a deal to buy 15 shallow-water oil and gas exploration drilling rigs from offshore drilling contractor Transocean in a $1.35 billion deal. The company also has four ultra-deepwater drillships under construction or under contract to be constructed.

Other News

Trending Now

Bob Dylan and His Band Map Out Canadian Tour Dates
Legendary singer-songwriter Bob Dylan will be bringing his unmistakable voice to the Canadian Tire Centre this summer. They'll play Kingston on June 27, followed by dates in Montreal, Barrie, Oshawa, Toronto and London.

UBS Assumes Charles Schwab Corp to Buy with Price Target $50
Out of 0 brokerage recommendations, 0 gave a Strong Buy, 0 issued a Buy, 0 issued Hold, 0 rated Under-perform and 0 issued a Sell. On Thursday, November 10 SCHWAB CHARLES R sold $10.63 million worth of Charles Schwab Corp (NYSE:SCHW) or 300,000 shares.

Critical witness expected to testify in Hernandez murder trial
Bradley said he became friends with Hernandez in 2009, sold him marijuana, and frequently went out with Hernandez to clubs. That's when Bradley said Hernandez retrieved the gun from inside the hood of the SUV, placing it in the glove box.

G-20 Finance Ministers Abandon Free Trade Sentiment
Others suggested that the G20 leaders' meeting in Hamburg this July could be the real opportunity to bring the USA on board. He said he favoured "free" trade but some agreements might need to be renegotiated.

Stephen King's "The Dark Tower" rolls out the 1st poster
The long-awaited adaptation of Stephen King's The Dark Tower arrives this July, though you'd be forgiven for not knowing. The new poster was released by Sony Pictures with a message reminding viewers that "There are other worlds than these".

Brexit process will officially start next week
The summit will endorse the final guidelines and mandate the EU's negotiator, Michel Barnier from the European Commission. May is expected to make a statement to the House of Commons shortly after invoking the Article 50.

UK PM Theresa May to trigger Brexit on March 29
But many outsiders may be left scratching their head, so here's a WorldViews guide to Article 50 for those catching up. Labour leader Jeremy Corbyn said: "The Government has failed to build a consensus about what form Brexit should take".