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Is Transocean a Buy?

TheMotleyFool

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Transocean (NYSE: RIG) is one of the largest offshore drilling contractors in the world, but it has a shaky past. The company attracted international infamy in 2010 when its prized Deepwater Horizon offshore rig, under contract for BP, had a wellhead blowout that resulted in the largest marine oil spill and one of the largest environmental disasters in U.S. history. Since 2010, Transocean's stock has proceeded to fall 94% against the S&P 500's gain of 182%. Transocean has sunk to what it hopes is rock bottom, but is it a buy?