Transocean Stock Falls On Unusually High Volume (RIG)

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

NEW YORK ( TheStreet) -- Transocean (NYSE: RIG) is trading at unusually high volume Friday with 8.6 million shares changing hands. It is currently at 2.7 times its average daily volume and trading down $3.30 (-5.6%) at $56 as of 2:56 p.m. ET.

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Transocean has a market cap of $20.51 billion and is part of the basic materials sector and energy industry. Shares are up 27.8% year to date as of the close of trading on Thursday.

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.

TheStreet Ratings rates Transocean as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including deteriorating net income and disappointing return on equity. You can view the full Transocean Ratings Report.

See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center.

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