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

Several equities research analysts have recently weighed in on the company. KLR Group reaffirmed a “buy” rating and issued a $19.00 target price on shares of Transocean in a research report on Sunday, April 24th. Credit Suisse Group AG reiterated a “sell” rating on shares of Transocean in a research note on Saturday. Jefferies Group reiterated a “hold” rating on shares of Transocean in a research note on Sunday. Vetr cut Transocean from a “strong-buy” rating to a “buy” rating and set a $9.75 price target on the stock. in a research note on Tuesday, March 29th. Finally, Clarkson Capital reiterated a “neutral” rating on shares of Transocean in a research note on Monday, April 11th. Fifteen equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $10.07.

The stock has a 50 day moving average of $11.09 and a 200 day moving average of $10.27. The stock has a market capitalization of $4.56 billion and a price-to-earnings ratio of 3.00.

Transocean (NYSE:RIG) last issued its quarterly earnings results on Wednesday, May 4th. The offshore drilling services provider reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.40. The company earned $1.34 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the business earned $1.10 EPS. The business’s revenue for the quarter was down 34.4% on a year-over-year basis. Equities research analysts predict that Transocean Ltd. will post $0.65 EPS for the current year.

Other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Transocean by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 36,439,874 shares of the offshore drilling services provider’s stock valued at $451,125,000 after buying an additional 460,316 shares during the period. 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 valued at $59,920,000 after buying an additional 602,670 shares in 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 valued at $4,731,000 after buying an additional 105,783 shares in the last quarter. Stevens Capital Management LP boosted its stake in Transocean by 738.3% in the fourth quarter. Stevens Capital Management LP now owns 320,573 shares of the offshore drilling services provider’s stock valued at $3,969,000 after buying an additional 282,330 shares in the last quarter. Finally, State of Wisconsin Investment Board boosted its stake in Transocean by 45.9% in the fourth quarter. State of Wisconsin Investment Board now owns 315,869 shares of the offshore drilling services provider’s stock valued at $3,944,000 after buying an additional 99,443 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.

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