Lowering The 52 Week Low, Transocean LTD (NYSE:RIG) Ending The Day At $5.68

RIG
RIG

Transocean LTD (NYSE:RIG)

June 13th, 2019

With markets going up Transocean LTD closed Thursday up 3.27%, a $0.18 increase to close on $5.68. Despite ending the day higher, Transocean LTD hit a new 52 week low of $5.45. Be aware that the Altman Z-Score1 (An indicator of the probability for a 2-year bankruptcy) is below the recommended threshold of 1.8%, and calculated to be 0.41.

RIG outperformed the rest of the Energy sector which went up 1.25% today.

Market Sectors

The market sectors were mixed Thursday with a majority of the sectors trending up. Energy saw the biggest increase of the day (1.25%), while the Healthcare sector saw the biggest drop (-0.11%). Information Technology has seen the biggest year-to-date gain of 23.06%.

Utilities saw the biggest turn-around compared to its 5-day performance (-0.31%), as it went up by 0.15%. Healthcare saw a turn-around from its 5-day performance of 2.18% trading down -0.11%.

Sector Breakdown

  • Energy, up 1.25%.
  • Communication Services, up 1.14%.
  • Consumer Discretionary, up 0.90%.
  • Materials, up 0.58%.
  • Industrials, up 0.54%.
  • Financials, up 0.23%.
  • Information Technology, up 0.22%.
  • Utilities, up 0.15%.
  • Consumer Staples, up 0.11%.
  • Real Estate, up 0.09%.
  • Healthcare, down -0.11%.

Transocean LTD Info

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. The company primarily offers drilling rigs, related equipment, and work crews; and ultra-deepwater and harsh environment drilling services. As of February 18, 2019, it owned or had partial ownership interests in, and operated 48 mobile offshore drilling units that consist of 31 ultra-deepwater floaters, 13 harsh environment floaters, and 4 midwater floaters. The company serves integrated oil companies or their affiliates, as well as government-controlled oil companies and independent oil companies. Transocean Ltd. was founded in 1953 and is based in Steinhausen, Switzerland.

All amounts in USD unless otherwise indicated

(1) The Altman Z-Score calculation was first published in 1968 by Edward I. Altman, and is used for predicting the probability that a firm will go into bankruptcy within two years. An Altman Z-Score below 1.8 (Remember that Transocean LTD’s score is 0.41) is the trigger to be alert for this situation. Some analysts believe this score is less relevant for some companies, in particular companies operating to accumulate users that may run at huge losses to scale up.

RIG daily update
RIG daily update

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