Shares of Transocean Ltd. (NYSE:RIG) rose 6.4% during trading on Monday . The company traded as high as $10.56 and last traded at $10.53, with a volume of 7,747,173 shares changing hands. The stock had previously closed at $9.90.

RIG has been the subject of a number of research analyst reports. KLR Group reaffirmed a “buy” rating and set a $19.00 price target on shares of Transocean in a research report on Sunday, April 24th. Vetr raised Transocean from a “hold” rating to a “buy” rating and set a $10.17 price target for the company in a research report on Monday, May 16th. Zacks Investment Research raised Transocean from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a report on Wednesday, June 29th. Evercore ISI raised Transocean from a “sell” rating to a “hold” rating and increased their price objective for the company from $11.00 to $12.00 in a report on Wednesday, June 29th. Finally, Jefferies Group reissued a “hold” rating on shares of Transocean in a report on Sunday, July 10th. Thirteen equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $10.00.

The firm’s 50 day moving average is $11.36 and its 200-day moving average is $10.35. The stock has a market cap of $3.69 billion and a price-to-earnings ratio of 2.95.

Transocean (NYSE:RIG) last announced its earnings results on Wednesday, August 3rd. The offshore drilling services provider reported $0.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.18. During the same period last year, the business posted $1.11 EPS. The firm earned $943 million during the quarter. The firm’s quarterly revenue was down 49.9% compared to the same quarter last year. Equities analysts anticipate that Transocean Ltd. will post $0.98 earnings per share for the current year.

Several large investors recently bought and sold shares of the company. Comerica Bank increased its stake in Transocean by 3.4% in the fourth quarter. Comerica Bank now owns 109,793 shares of the offshore drilling services provider’s stock valued at $1,180,000 after buying an additional 3,617 shares during the last quarter. BNP Paribas Arbitrage SA increased 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 increased 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, Dimensional Fund Advisors LP increased 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.

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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