Transocean Ltd. (NYSE:RIG) Receives Consensus Recommendation of “Hold” from Brokerages

Transocean Ltd. (NYSE:RIGGet Free Report) has received an average recommendation of “Hold” from the ten research firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $7.70.

RIG has been the topic of a number of research reports. Evercore ISI dropped their price target on Transocean from $9.00 to $7.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. Barclays reduced their target price on shares of Transocean from $7.00 to $6.00 and set an “equal weight” rating for the company in a report on Thursday, February 22nd. Susquehanna upgraded shares of Transocean from a “neutral” rating to a “positive” rating and upped their price target for the stock from $5.50 to $9.00 in a research report on Monday, April 8th. Morgan Stanley decreased their price objective on shares of Transocean from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Monday, February 26th. Finally, Bank of America lifted their target price on shares of Transocean from $5.50 to $6.00 and gave the company an “underperform” rating in a research note on Monday, April 15th.

Get Our Latest Research Report on RIG

Insider Activity

In other news, Director (Cyprus) Ltd Perestroika bought 2,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were bought at an average cost of $6.01 per share, for a total transaction of $12,020,000.00. Following the completion of the transaction, the director now owns 87,574,894 shares of the company’s stock, valued at $526,325,112.94. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 13.16% of the company’s stock.

Institutional Investors Weigh In On Transocean

Large investors have recently bought and sold shares of the business. Pekin Hardy Strauss Inc. lifted its position in Transocean by 949.5% during the third quarter. Pekin Hardy Strauss Inc. now owns 126,006 shares of the offshore drilling services provider’s stock valued at $1,035,000 after purchasing an additional 114,000 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in Transocean by 180.5% in the third quarter. Janney Montgomery Scott LLC now owns 32,535 shares of the offshore drilling services provider’s stock worth $267,000 after buying an additional 20,935 shares during the last quarter. Hosking Partners LLP increased its position in Transocean by 342.7% during the third quarter. Hosking Partners LLP now owns 1,112,543 shares of the offshore drilling services provider’s stock valued at $9,134,000 after acquiring an additional 861,209 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its stake in shares of Transocean by 16.2% in the third quarter. B. Riley Wealth Advisors Inc. now owns 14,371 shares of the offshore drilling services provider’s stock valued at $118,000 after acquiring an additional 2,000 shares during the period. Finally, Clough Capital Partners L P lifted its holdings in shares of Transocean by 12.0% in the 3rd quarter. Clough Capital Partners L P now owns 1,663,543 shares of the offshore drilling services provider’s stock worth $13,658,000 after acquiring an additional 178,100 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Transocean Price Performance

Shares of RIG opened at $5.77 on Tuesday. Transocean has a twelve month low of $4.45 and a twelve month high of $8.88. The company has a market capitalization of $4.73 billion, a P/E ratio of -11.10 and a beta of 2.83. The firm has a 50 day moving average of $5.99 and a 200 day moving average of $5.82. The company has a quick ratio of 1.04, a current ratio of 1.35 and a debt-to-equity ratio of 0.65.

Transocean (NYSE:RIGGet Free Report) last announced its quarterly earnings results on Monday, April 29th. The offshore drilling services provider reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.10. Transocean had a negative return on equity of 4.67% and a negative net margin of 13.27%. The firm had revenue of $767.00 million for the quarter, compared to the consensus estimate of $781.86 million. During the same period in the prior year, the company posted ($0.38) earnings per share. The company’s quarterly revenue was up 18.2% on a year-over-year basis.

About Transocean

(Get Free Report

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.

Featured Stories

Analyst Recommendations for Transocean (NYSE:RIG)

Receive News & Ratings for Transocean Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Transocean and related companies with MarketBeat.com's FREE daily email newsletter.