Transocean can afford $4 dividend, says Wells Fargo After Carl Icahn disclosed that he had obtained an aggregate 5.61% of Transocean's shares, and was pushing the company to pay a $4 per share dividend, Wells Fargo thinks the company could pay the dividend. The firm believes shareholders will back Icahn's proposal, and it maintains an Outperform rating on the stock.
Transocean downgraded to Market Perform from Outperform at Cowen As previously reported Cowen downgraded Transocean to Market Perform from Outperform. The firm downgraded shares given the current market weakness, relatively older fleet and below average contracts for the next two years. Price target lowered to $30 from $39.