Transocean Ltd. (NYSE:RIG) has received a consensus rating of “Hold” from the forty brokerages that are covering the company, MarketBeat.com reports. Ten investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and sixteen have issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $12.09.
Several research firms have weighed in on RIG. Goldman Sachs Group, Inc. (The) raised Transocean from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $8.57 to $9.75 in a research report on Wednesday, August 9th. TheStreet lowered Transocean from a “c-” rating to a “d” rating in a research report on Friday, November 3rd. Evercore ISI reaffirmed a “buy” rating and set a $18.00 price target on shares of Transocean in a research report on Thursday, August 10th. Instinet reaffirmed a “reduce” rating and set a $7.00 price target (down previously from $8.00) on shares of Transocean in a research report on Saturday, August 19th. Finally, Nordea Equity Research reaffirmed a “buy” rating and set a $14.00 price target on shares of Transocean in a research report on Saturday, September 30th.
In other Transocean news, CAO Howard E. Davis acquired 40,000 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The stock was acquired at an average cost of $7.32 per share, for a total transaction of $292,800.00. Following the transaction, the chief accounting officer now directly owns 21,793 shares in the company, valued at $159,524.76. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.33% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the stock. OxFORD Asset Management LLP bought a new stake in shares of Transocean during the 3rd quarter worth $3,315,000. Van Den Berg Management I Inc. bought a new stake in shares of Transocean during the 3rd quarter worth $2,724,000. Commerzbank Aktiengesellschaft FI lifted its position in shares of Transocean by 23.6% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,471,767 shares of the offshore drilling services provider’s stock worth $15,836,000 after buying an additional 281,010 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Transocean by 1.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 12,729,364 shares of the offshore drilling services provider’s stock worth $136,965,000 after buying an additional 135,470 shares during the last quarter. Finally, Investment Centers of America Inc. bought a new stake in shares of Transocean during the 3rd quarter worth $127,000. Institutional investors and hedge funds own 70.31% of the company’s stock.
Transocean (NYSE:RIG) traded down $0.28 during midday trading on Monday, reaching $11.30. The company’s stock had a trading volume of 6,330,783 shares, compared to its average volume of 14,160,916. The company has a market cap of $4,420.00, a PE ratio of 14.48 and a beta of 1.81. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.36 and a quick ratio of 2.13. Transocean has a 12-month low of $7.20 and a 12-month high of $16.66.
Transocean (NYSE:RIG) last released its earnings results on Wednesday, November 1st. The offshore drilling services provider reported $0.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.20. The firm had revenue of $808.00 million for the quarter, compared to analysts’ expectations of $703.13 million. Transocean had a positive return on equity of 2.10% and a negative net margin of 84.09%. The business’s quarterly revenue was down 10.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.25 EPS. sell-side analysts forecast that Transocean will post -0.35 earnings per share for the current fiscal year.
Transocean Ltd. is an international provider of offshore contract drilling services for oil and gas wells. The Company’s primary business is to contract its drilling rigs, related equipment and work crews on a dayrate basis to drill oil and gas wells. As of February 9, 2017, it owned or had partial ownership interests in and operated 56 mobile offshore drilling units.
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