Shares of Transocean Ltd. (NYSE:RIG) were down 3.6% during trading on Monday . The stock traded as low as $10.05 and last traded at $10.11, with a volume of 7,766,727 shares changing hands. The stock had previously closed at $10.49.

Several analysts have recently commented on RIG shares. Clarkson Capital reaffirmed a “neutral” rating and set a $12.00 price target on shares of Transocean in a research report on Thursday, August 4th. Vetr reaffirmed a “buy” rating on shares of Transocean in a research report on Thursday. Jefferies Group reaffirmed a “hold” rating and set a $10.00 price target (down previously from $11.00) on shares of Transocean in a research report on Tuesday, August 16th. Nomura set a $7.00 price target on shares of Transocean and gave the company a “sell” rating in a research report on Tuesday, August 16th. Finally, Simmons reaffirmed an “underweight” rating and set a $5.60 price target (up previously from $5.00) on shares of Transocean in a research report on Tuesday, May 10th. Thirteen equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have given a buy rating to the company’s stock. Transocean currently has an average rating of “Hold” and an average price target of $10.00.

The stock’s 50-day moving average price is $11.27 and its 200 day moving average price is $10.36. The company has a market capitalization of $3.69 billion and a P/E ratio of 2.95.

Transocean (NYSE:RIG) last announced its quarterly earnings data on Wednesday, August 3rd. The offshore drilling services provider reported $0.17 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.18. During the same quarter in the previous year, the firm earned $1.11 earnings per share. The company had revenue of $943 million for the quarter. The business’s quarterly revenue was down 49.9% compared to the same quarter last year. Equities analysts anticipate that Transocean Ltd. will post $0.97 EPS for the current year.

Other hedge funds and institutional investors recently made changes to their positions in the company. Schwab Charles Investment Management Inc. increased its position in shares of Transocean by 26.5% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,361,469 shares of the offshore drilling services provider’s stock worth $16,855,000 after buying an additional 284,784 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of 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 worth $59,920,000 after buying an additional 602,670 shares during the last quarter. Finally, Comerica Bank increased its position 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 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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