Transocean Ltd. (RIG) is grabbing investors’ interest with the spin-off of assets and a new management team at the helm, says Longdley Zephirin, Chief Executive Officer, Director of Research and Senior Analyst at The Zephirin Group.
“After all the legal battles that they’ve had, now, with the settlement with the DoJ, they’ve spun off assets, and they have new management in place,” said Zephirin. “I think investors are looking into Transocean.”
With the current liquidity in the oil & gas sector, investors are looking at names that may have once been out of favor, such as RIG, Zephirin says. He believes that investors will be looking to sell out of companies like Ensco (ESV) and Diamond Offshore (DO) to add on their investment in RIG.
“Investors are looking at ways to hedge the sector, which they should, because there’s liquidity,” Zephirin said. “The sector has the best liquidity out there in the marketplace right now.”
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