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Transocean Still in Deep Water

NEW YORK ( TheStreet) -- The total bill for the Macondo rig disaster in the Gulf of Mexico still has not been completed and both the professional and individual investor still can't make up their minds on Transocean (RIG - Get Report).

The stock hasn't even been able to keep up with the market as the analysts keep making revised projections the price has been up and down like a yo-yo.

The market as measured by the Value Line Index is up about 30% over the past 12 months while RIG is only up by 3%. A look at this graph provided by Barchart shows how the stock has been volatile compared to the market:

Transocean provides offshore contract drilling services for oil and gas wells worldwide. It offers deepwater and harsh environment drilling, oil and gas drilling management, and drilling engineering and drilling project management services.

As of Feb. 10, 2011, the company owned, had partial ownership interests in, and operated 138 mobile offshore drilling units, including 47 high-specification floaters, 25 midwater floaters, nine high-specification jackups, 54 standard jackups, and three other rigs, as well as one ultra-deepwater floater and three high-specification jackups under construction. Transocean was founded in 1953 and is based in Zug, Switzerland. (Yahoo Finance profile)

Factors to Consider:

Technical factors provided by Barchart show an 8% Barchart technical buy signals but a Trend Spotter sell signal. The stock is above its 20- and 100-day moving averages but below its 50-day moving average. The price has dropped 4.92% in the past month and the stock is still 22.42% off its one-year high. The Relative Strength Index is a weak 49.12%. The stock recently traded at $46.6,6 which is below its 50-day moving average but still above its technical support level of $44.22. A very mixed bag of technical signals.

Fundamental Factors:

Wall Street follows this stock with interest, and 31 firms have assigned 44 analysts to follow the issue. They project revenue will be up 10% this year and another 3.8% next year. Earnings estimates are robust with a 92.2% increase for this year, another 52.4% next year and an annual increase of 17.76% over the next five years.
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