Shares of Transocean Ltd. (NYSE:RIG) fell 6.8% on Tuesday . The stock traded as low as $11.78 and last traded at $11.88, with a volume of 14,162,043 shares changing hands. The stock had previously closed at $12.75.

A number of analysts have commented on the stock. Cowen and Company dropped their price target on shares of Transocean from $12.00 to $9.00 in a research report on Monday, March 21st. Citigroup Inc. restated a “sell” rating and set a $6.00 price target (up from $4.00) on shares of Transocean in a research report on Monday, May 16th. Barclays PLC dropped their price target on shares of Transocean from $6.00 to $5.00 and set an “underweight” rating on the stock in a research report on Monday, March 28th. Vetr downgraded shares of Transocean from a “sell” rating to a “strong sell” rating and set a $8.83 price target on the stock. in a research report on Tuesday, April 19th. Finally, Zacks Investment Research upgraded shares of Transocean from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Wednesday, June 29th. Thirteen equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $10.07.

The stock has a market capitalization of $4.62 billion and a price-to-earnings ratio of 3.0372. The firm has a 50 day moving average price of $10.75 and a 200 day moving average price of $10.28.

Transocean (NYSE:RIG) last posted its earnings results on Wednesday, May 4th. The offshore drilling services provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.40. The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.14 billion. Transocean’s revenue for the quarter was down 34.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.10 earnings per share. On average, equities analysts anticipate that Transocean Ltd. will post $0.65 EPS for the current fiscal year.

A number of hedge funds have bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in Transocean by 14.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,840,322 shares of the offshore drilling services provider’s stock worth $59,920,000 after buying an additional 602,670 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in Transocean by 65.4% in the fourth quarter. BNP Paribas Arbitrage SA now owns 120,978 shares of the offshore drilling services provider’s stock worth $1,498,000 after buying an additional 47,822 shares during the last quarter. Marshall Wace LLP boosted its stake in Transocean by 38.3% in the fourth quarter. Marshall Wace LLP now owns 382,126 shares of the offshore drilling services provider’s stock worth $4,731,000 after buying an additional 105,783 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Transocean by 2.0% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 131,002 shares of the offshore drilling services provider’s stock worth $1,622,000 after buying an additional 2,527 shares during the last quarter. Finally, Aberdeen Asset Management PLC UK boosted its stake in Transocean by 9.6% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 186,354 shares of the offshore drilling services provider’s stock worth $2,960,000 after buying an additional 16,372 shares during the last quarter.

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 primarily on a day rate basis to drill oil and gas wells. The Company operates through the contract drilling services segment.

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