Today's Pre-Market Laggard Is Transocean (RIG)

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer.

Trade-Ideas LLC identified Transocean ( RIG) as a pre-market laggard candidate. In addition to specific proprietary factors, Trade-Ideas identified Transocean as such a stock due to the following factors:

  • RIG has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $152.9 million.
  • RIG traded 18,375 shares today in the pre-market hours as of 7:44 AM.
  • RIG is down 2% today from yesterday's close.

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More details on RIG:

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. The company primarily offers deepwater and harsh environment drilling services. The stock currently has a dividend yield of 3.1%. Currently there are no analysts that rate Transocean a buy, 10 analysts rate it a sell, and 8 rate it a hold.

The average volume for Transocean has been 11.7 million shares per day over the past 30 days. Transocean has a market cap of $6.9 billion and is part of the basic materials sector and energy industry. The stock has a beta of 1.74 and a short float of 26.6% with 10.99 days to cover. Shares are down 1.1% year-to-date as of the close of trading on Thursday.

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