Transocean Ltd. (NYSE:RIG)’s share price traded down 3.8% 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 equities research analysts recently weighed in on RIG shares. TheStreet raised shares of Transocean from a “sell” rating to a “hold” rating in a research note on Thursday. Zacks Investment Research cut shares of Transocean from a “buy” rating to a “hold” rating in a report on Tuesday, July 19th. Wells Fargo & Co. upgraded shares of Transocean from an “underperform” rating to a “market perform” rating and boosted their price objective for the company from $12.15 to $12.22 in a report on Monday, July 18th. Jefferies Group restated a “hold” rating on shares of Transocean in a report on Sunday, July 10th. Finally, Seaport Global Securities cut shares of Transocean from a “neutral” rating to a “sell” rating and set a $10.00 price objective for the company. in a report on Monday, July 11th. Fifteen investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $10.15.

The company has a 50-day moving average price of $11.59 and a 200-day moving average price of $10.30. The firm has a market cap of $4.16 billion and a price-to-earnings ratio of 2.73.

Transocean (NYSE:RIG) last announced its quarterly earnings results on Wednesday, May 4th. The offshore drilling services provider reported $0.69 EPS for the quarter, beating the Zacks’ consensus estimate 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. During the same quarter last year, the firm posted $1.10 EPS. The business’s revenue for the quarter was down 34.4% compared to the same quarter last year. On average, equities research analysts anticipate that Transocean Ltd. will post $0.67 EPS for the current year.

Several hedge funds have recently bought and sold shares of RIG. State of Tennessee Treasury Department raised its stake in Transocean by 74.4% in the fourth quarter. State of Tennessee Treasury Department now owns 304,043 shares of the offshore drilling services provider’s stock valued at $3,764,000 after buying an additional 129,692 shares during the last quarter. Dimensional Fund Advisors LP raised 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 during the last quarter. BNP Paribas Arbitrage SA raised 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 valued at $1,498,000 after buying an additional 47,822 shares during the last quarter. Marshall Wace LLP raised 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 during the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised 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 valued at $1,622,000 after buying an additional 2,527 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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