Crude oil (WTI) is down 2.51% to $44.60 per barrel and Brent crude is down 2.25% to $46.11 per barrel.
Yesterday, the U.S. Energy Information Administration announced data that indicated the U.S. crude stockpiles had declined for the ninth straight week in a row, dropping by 2.3 million barrels.
However, today further data showed that stockpiles are at a historically record high for this time of year of 519.5 million barrels. Totally crude and oil product stocks rose by 2.62 million barrels to an all-time high of 2.08 billion barrels for the week, CNBC reports.
Also, the company recently announced a cash tender offering to purchase up to $1 billion of senior notes, due 2020, 2021 and 2020.
Transocean is a Swiss offshore contract drilling services company.
Separately, TheStreet Ratings rated this stock as a "sell" with a ratings score of D+.
Among the areas TheStreet Ratings feels are negative, one of the most important has been a generally disappointing historical performance in the stock itself.
You can view the full analysis from the report here: RIG
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 articles's author.