NEW YORK (TheStreet) -- Transocean (RIG) - Get Report stock closed Tuesday's trading session up by 1.88% to $9.22, as oil prices gained on expectations that recent supply disruptions will help with the overall supply glut.
"In Nigeria, Venezuela, Libya and a host of other countries, the threat of disruptions seems to be increasing and not decreasing," Citigroup analysts said, according to the Wall Street Journal.
Looking ahead, the firm said Brent crude could reach the mid-$60 range in the near future.
Crude oil (WTI) is jumping by 1.48% to $48.79 per barrel and Brent crude is climbing by 0.89% to $48.78 per barrel.
Despite the bearish sentiment for oil, other analysts are still bearish as they anticipate more output in the Middle East.
Separately, TheStreet Ratings currently has a "Sell" rating on the stock with a letter grade of D+.
This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. Among the areas we feel are negative, one of the most important has been a generally disappointing historical performance in the stock itself.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.
You can view the full analysis from the report here: RIG