Transocean (RIG) Stock Gains on Higher Oil Prices - TheStreet

NEW YORK (TheStreet) -- Shares of Transocean (RIG) - Get Report were gaining 6.24% to $9.71 in late-afternoon trading on Thursday as higher oil prices benefit the Swiss offshore driller. 

Crude oil (WTI) was recently up 1.81% to $46.16 per barrel, while Brent crude was increasing 1.49% to $47.53 per barrel.

Oil prices continued to gain on Energy Information Administration data out yesterday that showed U.S. crude stockpiles unexpectedly declined by 6.2 million barrels last week to 504.6 million barrels total. Analysts were anticipating an increase of 3.4 million barrels, according to Reuters. 

The commodity is also benefiting from a weaker dollar today, which makes oil more affordable to foreign buyers. 

Separately, TheStreet Ratings team rates the stock as a "hold" with a ratings score of C-.

Transocean's strengths such as its largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels and expanding profit margins are countered by weaknesses including weak operating cash flow, a generally disappointing performance in the stock itself and feeble growth in the company's earnings per share.

You can view the full analysis from the report here: RIG

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.

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