Shares of Transocean Ltd. (NYSE:RIG) were down 3.8% during trading on Friday . The company traded as low as $11.63 and last traded at $11.67, with a volume of 10,381,464 shares. The stock had previously closed at $12.13.

A number of analysts have recently commented on RIG shares. Clarkson Capital lifted their price target on shares of Transocean from $13.00 to $15.00 and gave the stock a “market perform” rating in a research note on Monday, March 28th. Goldman Sachs Group Inc. reiterated a “sell” rating and issued a $7.25 price target (down from $7.50) on shares of Transocean in a research note on Friday, April 22nd. Vetr upgraded shares of Transocean from a “buy” rating to a “strong-buy” rating and set a $9.75 price target for the company in a research note on Monday, April 4th. Simmons reiterated an “underweight” rating and issued a $5.60 price target (up from $5.00) on shares of Transocean in a research note on Tuesday, May 10th. Finally, Zacks Investment Research lowered shares of Transocean from a “buy” rating to a “hold” rating in a research note on Friday, July 1st. Fifteen investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the stock. Transocean currently has an average rating of “Hold” and a consensus price target of $10.15.

The firm has a 50 day moving average price of $11.55 and a 200-day moving average price of $10.30. The firm has a market capitalization of $4.16 billion and a P/E ratio of 2.73.

Transocean (NYSE:RIG) last announced its quarterly earnings data 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 firm earned $1.34 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the previous year, the business posted $1.10 EPS. The company’s revenue for the quarter was down 34.4% on a year-over-year basis. On average, equities research analysts anticipate that Transocean Ltd. will post $0.66 EPS for the current year.

Other hedge funds and institutional investors recently bought and sold shares of the company. Aberdeen Asset Management PLC UK raised its position 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 valued at $2,960,000 after buying an additional 16,372 shares in the last quarter. Quantitative Investment Management LLC raised its position in Transocean by 506.2% in the fourth quarter. Quantitative Investment Management LLC now owns 88,500 shares of the offshore drilling services provider’s stock valued at $1,095,000 after buying an additional 73,900 shares in the last quarter. State of Wisconsin Investment Board raised its position 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. Russell Frank Co raised its position in Transocean by 1,629.1% in the fourth quarter. Russell Frank Co now owns 124,878 shares of the offshore drilling services provider’s stock valued at $1,534,000 after buying an additional 117,656 shares in the last quarter. Finally, TD Asset Management Inc. raised its position in Transocean by 12.5% in the fourth quarter. TD Asset Management Inc. now owns 269,253 shares of the offshore drilling services provider’s stock valued at $3,333,000 after buying an additional 29,900 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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