Transocean Ltd. Analyst Coverage Initiated: Oil Bubble Waiting to Burst by BrokerBank Securities, Inc.

NEW YORK, Feb. 25, 2015 /PRNewswire/ -- Transocean Ltd. RIG based in Switzerland, a leader of offshore contract drilling services for the oil sector recently announced a 80% dividend cut and the resignation of the CEO. The news does not come as a surprise as oil has suffered in the past 8 months, declining by more than 50% in that time frame. The company is following suit, cutting their dividend to continue to pay their debts.

Oil price has recently rallied to 2015 highs, though this is believed to be short-lived. The oil and gas sector has experienced some life recently; however it is believed that oil price will continue to decline resulting from oversupply and continued production by OPEC and other oil producing countries. Until the oil price recovers, the energy sector will continue to post losses.

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SOURCE BrokerBank Securities, Inc.