Shares of Transocean Ltd. (NYSE:RIG – Get Free Report) have been given an average recommendation of “Hold” by the eleven analysts that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $6.6786.
Several equities analysts have recently commented on RIG shares. Barclays reduced their target price on Transocean from $8.00 to $7.00 and set an “overweight” rating for the company in a research note on Wednesday, August 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Transocean in a report on Friday, July 17th. Fearnley Fonds upgraded shares of Transocean from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. Finally, Susquehanna cut their target price on Transocean from $8.00 to $7.00 and set a “positive” rating on the stock in a research note on Wednesday, July 8th.
Read Our Latest Stock Report on RIG
Insiders Place Their Bets
Institutional Investors Weigh In On Transocean
A number of institutional investors and hedge funds have recently bought and sold shares of RIG. Elliott Investment Management L.P. acquired a new stake in shares of Transocean during the 1st quarter valued at $103,606,000. Zimmer Partners LP purchased a new position in shares of Transocean during the 3rd quarter valued at $30,262,000. Assenagon Asset Management S.A. acquired a new position in Transocean in the second quarter worth approximately $37,477,000. Barclays PLC increased its position in Transocean by 230.6% during the fourth quarter. Barclays PLC now owns 10,802,664 shares of the offshore drilling services provider’s stock worth $44,615,000 after buying an additional 7,535,041 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Transocean by 20.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 43,470,312 shares of the offshore drilling services provider’s stock valued at $179,531,000 after purchasing an additional 7,516,589 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.
Transocean Trading Down 0.2%
Shares of RIG stock opened at $5.84 on Monday. The company has a quick ratio of 1.27, a current ratio of 1.59 and a debt-to-equity ratio of 0.56. The stock has a market cap of $6.52 billion, a price-to-earnings ratio of -3.11, a price-to-earnings-growth ratio of 4.58 and a beta of 1.34. The firm’s 50 day moving average price is $5.42 and its two-hundred day moving average price is $6.00. Transocean has a fifty-two week low of $3.01 and a fifty-two week high of $7.66.
Transocean (NYSE:RIG – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The offshore drilling services provider reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.02. The firm had revenue of $966.00 million during the quarter, compared to the consensus estimate of $956.64 million. Transocean had a positive return on equity of 2.60% and a negative net margin of 40.24%.The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.06) EPS. On average, analysts anticipate that Transocean will post 0.17 EPS for the current year.
Transocean Company Profile
Transocean Ltd. is a leading international provider of offshore contract drilling services for the oil and gas industry. The company specializes in the operation of mobile drilling units, including ultra-deepwater drillships, semisubmersible rigs and high-specification jackup rigs. Transocean’s fleet is designed to meet complex drilling requirements, from ultra-deepwater well construction to shelf exploration and development projects.
The company’s core services encompass the full spectrum of offshore drilling operations, including project and engineering management, marine operations, drilling supervision, and maintenance support.
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