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Today's Research Reports on Stocks to Watch: Transocean Ltd. and Teekay Corporation

NEW YORK, NY / ACCESSWIRE / July 5, 2017 / Transocean and Teekay were just a few oil stocks to see gains on Monday as oil prices headed up. Rowan, Diamond Offshore Drilling as well as Ensco and Noble rallied on Monday as well.

RDI Initiates Coverage on:

Transocean Ltd.
https://ub.rdinvesting.com/news/?ticker=RIG

Teekay Corporation
https://ub.rdinvesting.com/news/?ticker=TK

Transocean Ltd.'s shares closed up 5.35% on a little over 10 million shares traded on Monday. There was no particular significant news for the company that day but several offshore drilling stocks saw gains as oil prices rose. Despite the gains, Zephirin Group's Longdley Zephirin doesn't think it's time to buy though. Zephirin maintains a "neutral" rating on the outlook of offshore drillers and said, "OPEC support has not materialized in the medium-term which has led to volatile commodity prices. The long-term pain facing the Offshore Drillers has not shown any sign of easing in the medium-term. The Offshore Drillers would continue to exercise strong cost control and building liquidity as they navigate weak demand, falling backlogs, day rates and utilization rates. That said, the environment is becoming competitive as Offshore Drillers compete for lower day rates to keep UDW rig assets working... We believe that it will take time for the Offshore Drillers to adjust to falling UDW day rates in response to weaker demand in the 2H17. As a result, we are lowering our price objective for Transocean Ltd. to $14.00/share from $16.00/share, Rowan Cos. to $14.00/share from $15.00/share, Diamond Offshore Drilling to $16.00/share from $18.00/share, ENSCO PLC to $8.50/share from $11.00/share and Noble Corp. PLC to $5.00/share from $6.50/share, respectively."

Access RDI's Transocean Research Report at:
https://ub.rdinvesting.com/news/?ticker=RIG

Teekay Corporation had a huge trading day on Monday with shares closing up 16.94%. The leading marine energy transportation, storage & production company has been having a stellar couple of weeks. With Monday's gains, Teekay has now seen a move of over 48% since June 21. On a consensus basis, analysts have a Buy/Sell rating of 2.90. On a 1-5 scale, a Strong buy is a 1 while a Strong sell is a 5. With over 8,000 employees, Teekay offers offshore oil production, storage and offloading services, mainly under long-term, fixed-rate contracts.

Access RDI's Teekay Research Report at:
https://ub.rdinvesting.com/news/?ticker=TK

Our Actionable Research on Transocean Ltd. (NYSE: RIG) and Teekay Corporation (NYSE: TK) can be downloaded free of charge at Research Driven Investing.

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and reviewed by Nadia Noorani, CFA® charter holder. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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SOURCE: RDInvesting.com

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