NEW YORK (

TheStreet

) --

Transocean

(NYSE:

RIG

) hit a new 52-week low Wednesday as it is currently trading at $38.57, below its previous 52-week low of $38.76 with 2.5 million shares traded as of 12:55 p.m. ET. Average volume has been 7.9 million shares over the past 30 days.

Transocean has a market cap of $12.76 billion and is part of the

basic materials

sector and

energy

industry. Shares are down 43.7% year to date as of the close of trading on Tuesday.

Transocean Ltd. 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.

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TheStreet Ratings rates Transocean as a

hold

. Among the primary strengths of the company is its solid financial position based on a variety of debt and liquidity measures that we have evaluated. At the same time, however, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity. You can view the full

Transocean Ratings Report

.

See all

52-week low stocks

or get investment ideas from our

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.

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