Transocean (NYSE:RIG) Push by Activist Investor Carl Icahn to Announce Dividend of $4 Per Share – RIG, ESV, RDC, ATW

Transocean LTD (NYSE:RIG) reported on Friday in a regulatory filing that activist investor Carl Icahn pushed offshore driller Transocean to announce a dividend of around $4 a share and reported if it does not, he will offer it at the corporation’s coming yearly summit.

Switzerland based Transocean current month announced that Icahn held a 1.56% interest in the corporation and was looking to regulatory support to acquire shares worth over $682 million, making him one of the Switzerland-based company’s biggest shareholders with an interest of just more than 5%.

Shares of Transocean listed in New York, which stopped paying a quarterly dividend previous year, moved up 3% in extended trading session in response to Icahn’s demand.

Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. ENSCO PLC (NYSE:ESV) rose +0.88% to settle at $62.11, Rowan Companies PLC (NYSE:RDC) moved up +1.81% to end at $34.94 while Atwood Oceanics, Inc. (NYSE:ATW) jumped +1.39% to finish at $53.21 on Friday.

Transocean LTD (NYSE:RIG) on Jan 25, 2013 increased +2.09% to the closing price of $56.76. The overall volume in the last trading session was 3.03 million shares. Its fifty two weeks range was $39.32 – $59.03. The total market capitalization remained at $20.40 billion.

RIG is ahead of its 52-week low with 44.35% and lagging behind from its 52-week high price with -3.85%. RIG’s last month’s stock price volatility remained 2.30%. In its share capital RIG has 319.02 million outstanding shares, among them 718.77 million shares have been floated in market exchange. RIG’s stock’s institutional ownership remained 61.36% while insider ownership included 0.02%.

The stock price of RIG is moving forward from its 20 days moving average with 10.01% and remote positively from 50 days moving average with 18.11%. RIG’s current year’s earnings per share experienced a downfall of -766.07% while its current quarter performance remained at 16.07%. Company’s beta coefficient included 1.18. Beta factors measure the amount of market risk associated with market trade.

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