Transocean (NYSE:RIG), like its offshore drilling peers, has lost a lot of value on the stock market since the oil crash began. More specifically, Transocean has lost close to 80% of market cap since the start of oil price crash in June 2014, but I think that the downside is limited going forward.
In fact, on analysing the fundamentals of the company, Transocean seems to be the best bet in the offshore drilling industry right now. There are a few solid and known reasons why I say this, and I will be throwing light on the same in this article.
Better positioned than peers
Transocean has a total of 41 rigs which makes it the largest offshore drilling fleet owner among its peers. Also, the company has an industry leading backlog of $13.7 billion, which is three times when compared to rival Seadrill that has a backlog of only $3.6 billion. This supremacy of Transocean is displayed in the charts given below:
Click to enlarge
stock market commentary: Movado Group Inc.(MOV)
- [By Dan Caplinger]
Wednesday was yet another record-setting day for the stock market, as the Dow climbed triple digits and the S&P 500 and Nasdaq Composite followed the venerable average to unprecedented heights. Economic data showing rising inflation made it more likely that the Federal Reserve will look to boost interest rates at its next Federal Open Market Committee meeting next month, and the ripples throughout the bond market sent many investors to consider stocks instead. Yet despite the substantial rally, some stocks missed out on the move higher, and American International Group (NYSE:AIG), Teck Resources (NYSE:TECK), and Movado Group (NYSE:MOV) were among the worst performers on the day. Below, we’ll look more closely at these stocks to tell you why they did so poorly.
- [By Dan Caplinger]
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stock market commentary: Molson Coors Brewing Company(TAP)
- [By WWW.THESTREET.COM]
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stock market commentary: Match Group, Inc.(MTCH)
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stock market commentary: Unilever PLC(UL)
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stock market commentary: Simulations Plus, Inc.(SLP)
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stock market commentary: Kinross Gold Corporation(KGC)
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- [By Monica Gerson]
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