Transocean Ltd. (RIG) – What Are Researchers Saying About This Stock?

Shares of Transocean Ltd. (NYSE:RIG) have earned an average recommendation of “Hold” from the twelve brokerages that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, four have given a hold recommendation, three have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $6.68.

Several equities analysts have recently commented on RIG shares. Weiss Ratings restated a “sell (d-)” rating on shares of Transocean in a report on Thursday, October 15th. Zacks Research upgraded Transocean from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Barclays cut their price objective on Transocean from $8.00 to $7.00 and set an “overweight” rating for the company in a report on Wednesday, August 12th. Susquehanna reduced their price objective on Transocean from $8.00 to $7.00 and set a “positive” rating for the company in a research report on Wednesday, July 8th. Finally, Fearnley Fonds upgraded Transocean from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th.

Transocean Stock Performance

Shares of RIG opened at $6.54 on Tuesday. The company’s 50 day moving average price is $5.69 and its 200 day moving average price is $5.78. Transocean has a 52 week low of $3.68 and a 52 week high of $7.66. The company has a market capitalization of $7.31 billion, a PE ratio of -3.48, a PEG ratio of 4.69 and a beta of 1.41. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.27 and a current ratio of 1.59.

Transocean (NYSE:RIG) last released its quarterly earnings data on Wednesday, August 5th. The offshore drilling services provider reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.02. Transocean had a negative net margin of 40.24% and a positive return on equity of 2.60%. The firm had revenue of $966.00 million for the quarter, compared to analyst estimates of $956.64 million. During the same quarter in the prior year, the business earned ($1.06) EPS. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. Research analysts expect that Transocean will post 0.18 EPS for the current fiscal year.

Institutional Investors Weigh In On Transocean

Several institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its holdings in Transocean by 27.0% in the first quarter. EverSource Wealth Advisors LLC now owns 6,536 shares of the offshore drilling services provider’s stock valued at $43,000 after acquiring an additional 1,391 shares during the last quarter. Versant Capital Management Inc raised its holdings in Transocean by 15.6% during the 3rd quarter. Versant Capital Management Inc now owns 15,550 shares of the offshore drilling services provider’s stock worth $81,000 after purchasing an additional 2,099 shares during the last quarter. Rockefeller Capital Management L.P. raised its holdings in Transocean by 19.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 24,497 shares of the offshore drilling services provider’s stock worth $101,000 after purchasing an additional 4,043 shares during the last quarter. Private Advisor Group LLC raised its holdings in Transocean by 16.4% during the 1st quarter. Private Advisor Group LLC now owns 31,876 shares of the offshore drilling services provider’s stock worth $211,000 after purchasing an additional 4,500 shares during the last quarter. Finally, Root Financial Partners LLC lifted its position in Transocean by 192.6% during the 1st quarter. Root Financial Partners LLC now owns 7,787 shares of the offshore drilling services provider’s stock valued at $52,000 after purchasing an additional 5,126 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Transocean Company Profile

Transocean Ltd. is an offshore drilling contractor that provides drilling services to international oil and gas companies. The company specializes in ultra-deepwater and harsh-environment drilling, helping customers explore for and develop offshore energy resources.

Transocean owns and operates a fleet of mobile offshore drilling units, including ultra-deepwater drillships and semisubmersible rigs. Its services generally include contract drilling, rig operations, well-construction support, and related offshore drilling management.

With roots tracing back to the 1920s, Transocean serves customers in major offshore energy regions around the world.