Transocean Ltd. (RIG) Price Target Raised to $13.00 at Royal Bank Of Canada

Transocean Ltd. (NYSE:RIG) had its price objective lifted by Royal Bank Of Canada from $11.00 to $13.00 in a research note published on Tuesday morning. Royal Bank Of Canada currently has a sector perform rating on the offshore drilling services provider’s stock.

Several other equities analysts have also commented on RIG. Goldman Sachs Group, Inc. (The) raised Transocean from a sell rating to a neutral rating and raised their price objective for the company 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 reissued a buy rating and set a $18.00 price objective on shares of Transocean in a research report on Thursday, August 10th. Instinet reissued a reduce rating and set a $7.00 price objective (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 issued a $14.00 price target on shares of Transocean in a research report on Saturday, September 30th. Ten equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $12.31.

Shares of Transocean (NYSE RIG) traded down $0.23 during trading on Tuesday, reaching $10.49. The company’s stock had a trading volume of 11,302,855 shares, compared to its average volume of 14,115,110. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.36 and a quick ratio of 2.13. The stock has a market capitalization of $4,090.00, a price-to-earnings ratio of 14.05 and a beta of 1.81. Transocean has a fifty-two week low of $7.20 and a fifty-two week high of $16.66.

Transocean (NYSE:RIG) last announced its quarterly earnings data on Wednesday, November 1st. The offshore drilling services provider reported $0.16 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.20. The business had revenue of $808.00 million during the quarter, compared to analyst estimates of $703.13 million. Transocean had a positive return on equity of 2.10% and a negative net margin of 84.09%. The company’s revenue for the quarter was down 10.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.25 earnings per share. equities analysts expect that Transocean will post -0.35 EPS for the current year.

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In other Transocean news, CAO Howard E. Davis purchased 40,000 shares of the stock in a transaction that occurred on Thursday, August 17th. The shares were bought at an average cost of $7.32 per share, with a total value of $292,800.00. Following the acquisition, the chief accounting officer now owns 21,793 shares in the company, valued at $159,524.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Prudential Financial Inc. lifted its holdings in Transocean by 53.1% in the 2nd quarter. Prudential Financial Inc. now owns 2,290,673 shares of the offshore drilling services provider’s stock worth $18,853,000 after purchasing an additional 794,927 shares in the last quarter. Thompson Siegel & Walmsley LLC lifted its holdings in Transocean by 129.6% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 6,299,461 shares of the offshore drilling services provider’s stock worth $51,844,000 after purchasing an additional 3,556,281 shares in the last quarter. OZ Management LP purchased a new position in Transocean in the 2nd quarter worth approximately $1,053,000. Commerzbank Aktiengesellschaft FI lifted its holdings in Transocean by 87.2% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 1,190,757 shares of the offshore drilling services provider’s stock worth $9,800,000 after purchasing an additional 554,527 shares in the last quarter. Finally, Engineers Gate Manager LP lifted its holdings in Transocean by 821.9% in the 2nd quarter. Engineers Gate Manager LP now owns 386,853 shares of the offshore drilling services provider’s stock worth $3,184,000 after purchasing an additional 344,889 shares in the last quarter. 70.31% of the stock is currently owned by institutional investors.

Transocean Company Profile

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.

Analyst Recommendations for Transocean (NYSE:RIG)

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