Il 6 Agosto Transocean aveva comunicato risultati trimestrali molto positivi e superiori al consensus, ma da allora il prezzo dell' azione è sceso in connessione al ribasso del prezzo del petrolio.
Però prezzi del petrolio anche più bassi di quelli attuali non sarebbero un problema per RIG : i contratti sono basati su stime molto prudenziali per il prezzo del petrolio e la domanda per gli impianti offshore di estrazione del petrolio supera l' offerta.
Il ribasso di Transocean, che a Giugno era anche a $154 circa, è ingiustificato.
RIG $122.35 +1.12% Sep 5 - Close

HOUSTON, Aug 6 (Reuters) - Transocean Inc (RIG.N), the world's largest oil and gas drilling contractor, said second-quarter profit doubled, topping Wall Street estimates, on strong demand for its offshore rigs.

Transocean has seen rates for certain deepwater rigs top $600,000 per day as high crude oil prices prompt demand from exploration and production companies. Tight rig supplies have also helped push contract awards higher.

Second-quarter profit rose to $1.1 billion, or $3.45 per share, from $549 million, or $2.63 per share, a year earlier.

Analysts on average had expected a profit of $3.30 per share, according to Reuters Estimates.

Revenue more than doubled, soaring to $3.1 billion.

The average daily rate paid for Transocean's drilling fleet rose 18 percent from a year earlier to $238,600 as contracts were renewed at higher rates.

http://www.reuters.com/article/rbssEnergyN...642354320080806

Venerdì 5 Settembre. Transocean sostituisce Halliburton nella Conviction Buy List di Goldman Sachs.
Target $178 per RIG.

Sep 5th 2008 1:49PM
Goldman Sachs shook up its ratings on the oil-services sector today, and made a notable adjustment to its "conviction buy" list -- Halliburton (NYSE: HAL) was ousted from the roster in favor of Transocean Inc. (NYSE: RIG). The brokerage firm still maintains a "buy" rating on HAL, but it's pretty obvious that the stock is now playing Jan Brady to RIG's Marcia.
So, why does Goldman prefer RIG to HAL? The former is more strongly levered to oil than the latter -- and, going forward, the analysts expect strong fundamentals and heightened oil prices to support "oilier" stocks. In a note to clients, Goldman said, "... we continue to expect a healthy oil-services spending environment through 2010, supported by low reinvestment rates and secular trends to more complex, high-margin drilling services."

Despite the bullish "buy" ratings on both securities, Goldman tempered its optimism by trimming its price targets on the duo. HAL's forecast was slashed from $63 to $58, while RIG's was trimmed from $189 to $178. The new price targets represent a 44.5% premium from HAL's closing price yesterday, and a 47% increase from RIG's Thursday settlement.

http://www.bloggingstocks.com/2008/09/05/t...ction-buy-list/

Due to lower expectations for natural gas prices in the coming years and a focus on "oily" stocks, the investment bank added Transocean Inc. to its "Conviction Buy list," giving it the place previously held by Halliburton Co.

"Transocean is levered to oil, where we see better long-term fundamentals, it has highly visible earnings through 2010, attractive valuation, and upside catalysts with rising dayrates," analyst Charles Minervino said in a note to clients.