Analysts Set Transocean Ltd. (NYSE:RIG) PT at $4.58

Shares of Transocean Ltd. (NYSE:RIG) have received an average recommendation of “Hold” from the ten ratings firms that are covering the firm, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $4.58.

A number of analysts have commented on RIG shares. Citigroup decreased their target price on Transocean from $4.50 to $3.50 and set a “neutral” rating on the stock in a research report on Wednesday, March 19th. Barclays decreased their target price on Transocean from $4.00 to $3.50 and set an “overweight” rating on the stock in a research report on Monday, April 7th. Susquehanna decreased their target price on Transocean from $5.00 to $4.00 and set a “positive” rating on the stock in a research report on Monday, April 14th. Morgan Stanley decreased their target price on Transocean from $4.00 to $3.50 and set an “equal weight” rating on the stock in a research report on Friday, May 16th. Finally, BTIG Research set a $5.00 target price on Transocean and gave the stock a “buy” rating in a research report on Monday, May 5th.

Transocean Trading Up 3.7%

Shares of RIG stock opened at $3.20 on Friday. The business’s fifty day moving average price is $2.46 and its 200 day moving average price is $3.21. Transocean has a 1-year low of $1.97 and a 1-year high of $5.98. The firm has a market capitalization of $2.82 billion, a PE ratio of -4.38, a P/E/G ratio of 0.86 and a beta of 2.54. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.47 and a quick ratio of 1.34.

Transocean (NYSE:RIG) last announced its quarterly earnings data on Monday, April 28th. The offshore drilling services provider reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. Transocean had a negative return on equity of 0.52% and a negative net margin of 14.53%. The firm had revenue of $906.00 million for the quarter, compared to analyst estimates of $884.92 million. During the same quarter in the prior year, the company posted ($0.03) earnings per share. Transocean’s quarterly revenue was up 18.7% on a year-over-year basis. As a group, sell-side analysts forecast that Transocean will post 0.14 EPS for the current fiscal year.

Insider Activity

In related news, EVP Roderick James Mackenzie sold 22,000 shares of the company’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $2.78, for a total value of $61,160.00. Following the completion of the transaction, the executive vice president now directly owns 340,841 shares in the company, valued at approximately $947,537.98. This represents a 6.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 12.27% of the company’s stock.

Hedge Funds Weigh In On Transocean

Institutional investors have recently added to or reduced their stakes in the business. Twin Tree Management LP acquired a new stake in Transocean during the fourth quarter worth about $27,000. Parallel Advisors LLC lifted its holdings in Transocean by 154.8% during the 1st quarter. Parallel Advisors LLC now owns 8,810 shares of the offshore drilling services provider’s stock worth $28,000 after buying an additional 5,353 shares during the last quarter. Optiver Holding B.V. lifted its holdings in Transocean by 53.6% during the 4th quarter. Optiver Holding B.V. now owns 8,400 shares of the offshore drilling services provider’s stock worth $32,000 after buying an additional 2,933 shares during the last quarter. Townsend & Associates Inc bought a new position in Transocean during the 1st quarter worth approximately $32,000. Finally, Costello Asset Management INC bought a new stake in shares of Transocean in the 1st quarter worth approximately $32,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

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.