Transocean Ltd. (NYSE:RIG) Given Consensus Rating of “Hold” by Brokerages

Transocean Ltd. (NYSE:RIG) has earned a consensus recommendation of “Hold” from the ten research firms that are covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $4.58.

RIG has been the subject of a number of research analyst reports. Susquehanna lowered their target price on Transocean from $5.00 to $4.00 and set a “positive” rating for the company in a report on Monday, April 14th. BTIG Research set a $5.00 price target on Transocean and gave the company a “buy” rating in a research report on Monday, May 5th. Citigroup reduced their price target on Transocean from $4.50 to $3.50 and set a “neutral” rating on the stock in a research report on Wednesday, March 19th. Barclays reduced their price target on Transocean from $4.00 to $3.50 and set an “overweight” rating on the stock in a research report on Monday, April 7th. Finally, Morgan Stanley reduced their price target on Transocean from $4.00 to $3.50 and set an “equal weight” rating on the stock in a research report on Friday, May 16th.

Insider Activity at Transocean

In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of Transocean stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $2.23, for a total transaction of $49,060.00. Following the transaction, the executive vice president now owns 362,841 shares of the company’s stock, valued at $809,135.43. The trade was a 5.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 12.27% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of RIG. Twin Tree Management LP purchased a new position in shares of Transocean in the 4th quarter valued at approximately $27,000. Parallel Advisors LLC grew its holdings in Transocean by 154.8% during the first quarter. Parallel Advisors LLC now owns 8,810 shares of the offshore drilling services provider’s stock worth $28,000 after acquiring an additional 5,353 shares during the period. Optiver Holding B.V. grew its holdings in Transocean by 53.6% during the fourth quarter. Optiver Holding B.V. now owns 8,400 shares of the offshore drilling services provider’s stock worth $32,000 after acquiring an additional 2,933 shares during the period. Townsend & Associates Inc acquired a new position in Transocean during the first quarter worth $32,000. Finally, Costello Asset Management INC acquired a new position in Transocean during the first quarter worth $32,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Transocean Stock Performance

NYSE RIG opened at $3.20 on Friday. The stock has a fifty day simple moving average of $2.46 and a 200-day simple moving average of $3.21. Transocean has a twelve month low of $1.97 and a twelve month high of $5.98. The stock has a market cap of $2.82 billion, a PE ratio of -4.38, a P/E/G ratio of 0.86 and a beta of 2.54. The company has a current ratio of 1.47, a quick ratio of 1.34 and a debt-to-equity ratio of 0.60.

Transocean (NYSE:RIG) last announced its earnings results on Monday, April 28th. The offshore drilling services provider reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. Transocean had a negative return on equity of 0.52% and a negative net margin of 14.53%. The company had revenue of $906.00 million during the quarter, compared to analysts’ expectations of $884.92 million. During the same period last year, the business posted ($0.03) EPS. Transocean’s revenue for the quarter was up 18.7% on a year-over-year basis. Equities analysts anticipate that Transocean will post 0.14 earnings per share for the current year.

About Transocean

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. The company operates a fleet of mobile offshore drilling units, consisting of ultra-deepwater floaters and harsh environment floaters.