Transocean LTD (RIG) Reaches $8.94 After 5.00% Up Move; Erie Indemnity Company Class A (ERIE) Shorts Raised By 11.24%

July 19, 2017 - By Peter Erickson

The stock of Transocean LTD (NYSE:RIG) is a huge mover today! About 13.81 million shares traded or 0.44% up from the average. Transocean LTD (NYSE:RIG) has risen 15.86% since July 19, 2016 and is uptrending. It has underperformed by 0.84% the S&P500.The move comes after 8 months positive chart setup for the $3.47 billion company. It was reported on Jul, 19 by Barchart.com. We have $9.39 PT which if reached, will make NYSE:RIG worth $173.50 million more.

Erie Indemnity Company Class A (NASDAQ:ERIE) had an increase of 11.24% in short interest. ERIE’s SI was 278,200 shares in July as released by FINRA. Its up 11.24% from 250,100 shares previously. With 30,100 avg volume, 9 days are for Erie Indemnity Company Class A (NASDAQ:ERIE)’s short sellers to cover ERIE’s short positions. The SI to Erie Indemnity Company Class A’s float is 1.13%. The stock decreased 1.16% or $1.46 during the last trading session, reaching $124.24. About 19,780 shares traded. Erie Indemnity Company (NASDAQ:ERIE) has risen 20.44% since July 19, 2016 and is uptrending. It has outperformed by 3.74% the S&P500.

Investors sentiment decreased to 0.95 in 2016 Q4. Its down 0.21, from 1.16 in 2016Q3. It dropped, as 72 investors sold Transocean LTD shares while 120 reduced holdings. 66 funds opened positions while 116 raised stakes. 242.80 million shares or 0.47% more from 241.66 million shares in 2016Q3 were reported. Amica Mutual Insur owns 18,496 shares. Arizona State Retirement holds 0.02% or 96,200 shares in its portfolio. Cap Rech Global holds 0.01% or 1.55 million shares. Massachusetts-based Wellington Group Llp has invested 0.02% in Transocean LTD (NYSE:RIG). Moreover, North Star Investment Mgmt has 0.03% invested in Transocean LTD (NYSE:RIG). Lpl Financial Llc holds 0% or 25,296 shares. Ny State Common Retirement Fund holds 0.02% of its portfolio in Transocean LTD (NYSE:RIG) for 738,900 shares. Prudential Fincl invested in 1.45 million shares or 0.03% of the stock. Louisiana State Employees Retirement Sys invested in 0.02% or 24,500 shares. Cibc World Mkts Corp reported 0% stake. Exxonmobil Investment Mngmt Inc Tx stated it has 90,108 shares or 0.03% of all its holdings. Dekabank Deutsche Girozentrale accumulated 143,200 shares. Cornerstone Mngmt Limited Liability invested 0.03% in Transocean LTD (NYSE:RIG). Tiaa Cref Investment Management Limited Co owns 1.09M shares for 0.01% of their portfolio. Blackrock Institutional Tru Na reported 0.03% of its portfolio in Transocean LTD (NYSE:RIG).

Analysts await Transocean LTD (NYSE:RIG) to report earnings on August, 2. They expect $-0.11 EPS, down 164.71% or $0.28 from last year’s $0.17 per share. After $0.01 actual EPS reported by Transocean LTD for the previous quarter, Wall Street now forecasts -1,200.00% negative EPS growth.

Transocean Ltd. is an international well-known provider of offshore contract drilling services for gas and oil wells. The company has market cap of $3.47 billion. The Company’s primary business is to contract its drilling rigs, related equipment and work crews on a dayrate basis to drill gas and oil wells. It has a 5.45 P/E ratio. As of February 9, 2017, it owned or had partial ownership interests in and operated 56 mobile offshore drilling units.

Among 32 analysts covering Transocean Ltd (NYSE:RIG), 9 have Buy rating, 9 Sell and 14 Hold. Therefore 28% are positive. Transocean Ltd had 71 analyst reports since August 7, 2015 according to SRatingsIntel. The rating was upgraded by Citigroup to “Neutral” on Thursday, August 25. The stock has “Sector Perform” rating by RBC Capital Markets on Friday, February 12. Jefferies maintained the shares of RIG in report on Wednesday, April 12 with “Hold” rating. The firm has “Buy” rating given on Thursday, January 5 by Arctic Securities. Bank of America downgraded the shares of RIG in report on Monday, January 9 to “Underperform” rating. The stock of Transocean LTD (NYSE:RIG) has “Sector Outperform” rating given on Tuesday, October 4 by Howard Weil. The firm earned “Market Perform” rating on Monday, July 18 by Wells Fargo. RBC Capital Markets maintained Transocean LTD (NYSE:RIG) on Friday, August 12 with “Sector Perform” rating. On Friday, December 16 the stock rating was downgraded by RBC Capital Markets to “Underperform”. Credit Suisse maintained Transocean LTD (NYSE:RIG) on Saturday, September 5 with “Underperform” rating.

Investors sentiment increased to 0.95 in 2016 Q4. Its up 0.20, from 0.75 in 2016Q3. It is positive, as 8 investors sold Erie Indemnity Company shares while 52 reduced holdings. 19 funds opened positions while 38 raised stakes. 14.15 million shares or 1.61% more from 13.93 million shares in 2016Q3 were reported. Capstone Asset accumulated 0.01% or 1,986 shares. Arbiter Partners Management Limited Liability Company owns 9,099 shares for 0.17% of their portfolio. Blackrock Institutional Company Na has 582,913 shares for 0.01% of their portfolio. State Street stated it has 0% in Erie Indemnity Company (NASDAQ:ERIE). Northern Tru holds 0% or 136,156 shares in its portfolio. Invesco accumulated 6,038 shares. Victory Cap Mngmt owns 54,874 shares or 0.02% of their US portfolio. New York State Common Retirement Fund stated it has 187,108 shares. Panagora Asset stated it has 2,102 shares. Moreover, Pine River Mngmt Lp has 0.02% invested in Erie Indemnity Company (NASDAQ:ERIE) for 4,900 shares. Principal Group Incorporated Incorporated stated it has 0% of its portfolio in Erie Indemnity Company (NASDAQ:ERIE). First Quadrant Lp Ca stated it has 0.02% in Erie Indemnity Company (NASDAQ:ERIE). Old Republic International Corp stated it has 0.9% in Erie Indemnity Company (NASDAQ:ERIE). Financial Bank Of America De, a North Carolina-based fund reported 24,832 shares. Tower Cap Limited Com (Trc) stated it has 0% of its portfolio in Erie Indemnity Company (NASDAQ:ERIE).

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