Transocean (NYSE:RIG) had its earnings per share estimate lowered by Barclays (NYSE:BCS) through 2011.
Barclays cited the declining rig utilization rates as the reason behind lowering the estimates for Transocean.
Even so, they did maintain their "Overweight" rating on the stock, along with their previous price target of $70 a share.
Transocean dropped on the lowered estimate Thursday, closing at $52.31, a loss of $1.77, or 3.27 percent.
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