Diamonds and Dogs
July 19, 2010Diamond
Halliburton Company, HAL
Halliburton shares increased close to 4 percent on Tuesday after analysts' revaluation and they upgraded their stock and its price target. Analysts stated that HAL's leverage in North America, as well as their diverse international portfolio will lead to solid growth in earnings and strong returns on capital in the next few years. Halliburton's rating was also upgraded to a 'Strong Buy' according to Raymond James. Their shares climbed to 30.27 a share, an increase of 3.8%.
Transocean Ltd, RIG
Transocean and Shell made a deal for RIG's deepwater rigs to stay close in the gulf while they wait out Obama's administration's new deepwater oil drilling moratorium. Once drilling can continue, Shell wants to have RIG ready to restart as abruptly as possible. Transocean as well as other drillers are facing many challenges as a result of the moratorium. The continuing investigation of BP and the disaster in the gulf has forced Transocean to cease their drilling and some drillers have even decided to move elsewhere. Transocean shares are down $4 from 52.08 to 48.08 as of the close.