Brokerages Set Transocean Ltd. (NYSE:RIG) PT at $7.70

Shares of Transocean Ltd. (NYSE:RIG) have received a consensus rating of “Hold” from the ten research firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $7.70.

A number of equities research analysts have issued reports on RIG shares. Barclays reduced their target price on shares of Transocean from $7.00 to $6.00 and set an “equal weight” rating on the stock in a report on Thursday, February 22nd. Citigroup decreased their target price on Transocean from $9.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday, February 21st. Evercore ISI cut their price target on Transocean from $9.00 to $7.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Susquehanna upgraded Transocean from a “neutral” rating to a “positive” rating and lifted their price objective for the company from $5.50 to $9.00 in a research note on Monday, April 8th. Finally, Morgan Stanley cut their target price on shares of Transocean from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Monday, February 26th.

Transocean Price Performance

RIG stock opened at $5.88 on Friday. The business’s fifty day moving average price is $5.85 and its 200 day moving average price is $5.90. Transocean has a 12-month low of $4.45 and a 12-month high of $8.88. The company has a current ratio of 1.35, a quick ratio of 1.04 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $4.82 billion, a PE ratio of -11.31 and a beta of 2.83.

Transocean (NYSE:RIG) last issued its quarterly earnings results on Monday, April 29th. The offshore drilling services provider reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.10. Transocean had a negative net margin of 13.27% and a negative return on equity of 4.67%. The company had revenue of $767.00 million for the quarter, compared to analyst estimates of $781.86 million. During the same period in the prior year, the firm earned ($0.38) earnings per share. The business’s revenue for the quarter was up 18.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Transocean will post 0.01 EPS for the current year.

Hedge Funds Weigh In On Transocean

Several large investors have recently bought and sold shares of the stock. OLD Point Trust & Financial Services N A purchased a new stake in shares of Transocean in the 4th quarter valued at about $25,000. VisionPoint Advisory Group LLC acquired a new stake in shares of Transocean in the fourth quarter valued at approximately $28,000. Private Trust Co. NA grew its position in shares of Transocean by 1,489.8% during the fourth quarter. Private Trust Co. NA now owns 8,537 shares of the offshore drilling services provider’s stock worth $54,000 after acquiring an additional 8,000 shares during the last quarter. Fermata Advisors LLC acquired a new position in shares of Transocean in the 1st quarter valued at $75,000. Finally, First Western Trust Bank purchased a new stake in Transocean in the 4th quarter valued at $76,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

About Transocean

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.