New Year marks big Move in Transocean up 18%

Posted: January 23, 2012 in Energy, Long Term Growth, NYSE, Oil and Gas, Watch List
Tags: , , , , , , ,

Transocean LTD.  (NYSE:RIG) – An Offshore drilling contractor. Transocean of who owns or operates mobile offshore drilling units, inland drilling barges, and many other assets utilized in the suppport of offshore drilling activities on a Worldwide Basis. Transocean also Specializes i technically demanding segments of the offshore drilling business, which includes harsh environmental drilling, and deepwater drilling services.

Since 10/31/2011 Transocean hit a High of $59.24 of which then resulted in a downtrend to a New 52 week Low of $38.21 right before the New Year. However since the New Year there has been a turnaround and a bounce back in share price up over 18% close to $7.00 a share trading today up 1% at $45.15.

Currently I Rate this Company a HOLD. Not only does Transocean have a big dividend at 0.79 a share but could see a decline in the dividend this coming year. This may mark for many to want to sell off, however if you are a long term investor you may want to wait out the storm, and hold onto this investment as there are many Consensus Analyst Price Target at or above $60.00 a share.

Currently I own a Long Term Position in Transocean (RIG).

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