Shares of Transocean Ltd. (NYSE:RIG) were down 3% during trading on Monday . The stock traded as low as $11.77 and last traded at $11.78, with a volume of 7,549,057 shares trading hands. The stock had previously closed at $12.14.

RIG has been the topic of several research analyst reports. Clarkson Capital lifted their price objective on Transocean from $13.00 to $15.00 and gave the company a “market perform” rating in a research note on Monday, March 28th. Goldman Sachs Group Inc. reaffirmed a “sell” rating and issued a $7.25 price objective (down from $7.50) on shares of Transocean in a research note on Friday, April 22nd. Vetr raised Transocean from a “buy” rating to a “strong-buy” rating and set a $9.75 price objective on the stock in a research note on Monday, April 4th. Cowen and Company reduced their price objective on Transocean from $12.00 to $9.00 in a research note on Monday, March 21st. Finally, Seaport Global Securities reaffirmed a “reduce” rating on shares of Transocean in a research note on Tuesday, March 15th. Fifteen investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $10.07.

The stock has a market capitalization of $4.30 billion and a price-to-earnings ratio of 2.83. The firm’s 50 day moving average is $10.96 and its 200 day moving average is $10.26.

Transocean (NYSE:RIG) last announced its quarterly earnings data on Wednesday, May 4th. The offshore drilling services provider reported $0.69 EPS for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.40. The firm earned $1.34 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the business posted $1.10 EPS. Transocean’s revenue was down 34.4% compared to the same quarter last year. Equities research analysts forecast that Transocean Ltd. will post $0.65 EPS for the current year.

Several hedge funds have recently made changes to their positions in the company. Nationwide Fund Advisors increased its stake in shares of Transocean by 2.0% in the fourth quarter. Nationwide Fund Advisors now owns 101,906 shares of the offshore drilling services provider’s stock worth $1,262,000 after buying an additional 1,982 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of 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 in the last quarter. Comerica Bank increased its stake in shares of Transocean by 3.4% in the fourth quarter. Comerica Bank now owns 109,793 shares of the offshore drilling services provider’s stock worth $1,180,000 after buying an additional 3,617 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Transocean by 2.5% in the fourth quarter. Rhumbline Advisers now owns 254,127 shares of the offshore drilling services provider’s stock worth $3,146,000 after buying an additional 6,279 shares in the last quarter. Finally, Liberty Mutual Group Asset Management Inc. increased its stake in shares of Transocean by 10.4% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 105,334 shares of the offshore drilling services provider’s stock worth $1,312,000 after buying an additional 9,947 shares in 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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.