Transocean Ltd. (NYSE:RIG – Get Free Report) shares crossed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $5.86 and traded as low as $5.40. Transocean shares last traded at $5.4650, with a volume of 53,909,051 shares trading hands.
Analysts Set New Price Targets
Several equities analysts have recently commented on the stock. Barclays lowered their price target on shares of Transocean from $8.00 to $7.00 and set an “overweight” rating for the company in a research report on Wednesday, August 12th. Zacks Research raised shares of Transocean from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. Fearnley Fonds upgraded shares of Transocean from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Transocean in a research note on Thursday, October 15th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Transocean presently has an average rating of “Hold” and a consensus target price of $6.68.
View Our Latest Research Report on RIG
Transocean Trading Up 2.8%
The firm has a market capitalization of $5.86 billion, a P/E ratio of 37.46, a PEG ratio of 4.56 and a beta of 1.44. The business’s 50 day moving average is $5.74 and its two-hundred day moving average is $5.87. The company has a quick ratio of 1.27, a current ratio of 1.59 and a debt-to-equity ratio of 0.56.
Transocean (NYSE:RIG – Get Free Report) last issued its quarterly earnings results on Monday, November 2nd. The offshore drilling services provider reported $0.02 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.02. Transocean had a net margin of 7.25% and a return on equity of 1.85%. The company had revenue of $937.00 million during the quarter, compared to analyst estimates of $943.99 million. During the same period in the prior year, the business posted ($2.00) EPS. The business’s revenue for the quarter was down 8.9% compared to the same quarter last year. Analysts expect that Transocean Ltd. will post 0.18 EPS for the current year.
Institutional Trading of Transocean
Several institutional investors have recently modified their holdings of RIG. Hartford Financial Management Inc. acquired a new stake in Transocean during the third quarter valued at $31,000. Costello Asset Management INC acquired a new position in Transocean in the 3rd quarter worth about $33,000. Ascentis Independent Advisors acquired a new position in Transocean in the 1st quarter worth about $43,000. EverSource Wealth Advisors LLC raised its stake in shares of Transocean by 27.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 6,536 shares of the offshore drilling services provider’s stock worth $43,000 after purchasing an additional 1,391 shares in the last quarter. Finally, Root Financial Partners LLC purchased a new stake in shares of Transocean during the 3rd quarter worth about $48,000. Institutional investors and hedge funds own 67.73% of the company’s stock.
Transocean Company Profile
Transocean Ltd. is an offshore drilling contractor that provides drilling services to international oil and gas companies. The company specializes in ultra-deepwater and harsh-environment drilling, helping customers explore for and develop offshore energy resources.
Transocean owns and operates a fleet of mobile offshore drilling units, including ultra-deepwater drillships and semisubmersible rigs. Its services generally include contract drilling, rig operations, well-construction support, and related offshore drilling management.
With roots tracing back to the 1920s, Transocean serves customers in major offshore energy regions around the world.
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