Transocean Ltd. (RIG) Downgraded by Vetr Inc.
Vetr cut shares of Transocean Ltd. (NYSE:RIG) from a strong-buy rating to a buy rating in a research note published on Thursday. They currently have $11.27 price target on the offshore drilling services provider’s stock.
A number of other equities analysts have also weighed in on RIG. KLR Group restated a buy rating and issued a $19.00 target price on shares of Transocean in a research note on Wednesday, June 15th. Evercore ISI upgraded Transocean from a sell rating to a hold rating and upped their target price for the stock from $11.00 to $12.00 in a research note on Wednesday, June 29th. Zacks Investment Research upgraded Transocean from a hold rating to a buy rating and set a $12.00 target price on the stock in a research note on Wednesday, June 29th. Canaccord Genuity lowered Transocean from a hold rating to a sell rating and set a $8.50 target price on the stock. in a research note on Friday, July 8th. Finally, Credit Suisse Group AG restated a sell rating on shares of Transocean in a research note on Saturday, July 9th. Ten equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the company. Transocean has a consensus rating of Hold and a consensus price target of $10.34.
Transocean (NYSE:RIG) opened at 9.52 on Thursday. The firm has a market capitalization of $3.48 billion, a price-to-earnings ratio of 2.78 and a beta of 1.91. Transocean has a 1-year low of $7.67 and a 1-year high of $17.19. The company has a 50 day moving average price of $9.80 and a 200-day moving average price of $10.33.
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, topping analysts’ consensus estimates of ($0.01) by $0.18. The business had revenue of $943 million for the quarter. Transocean had a return on equity of 8.46% and a net margin of 21.91%. Transocean’s revenue was down 49.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.11 earnings per share. On average, analysts forecast that Transocean will post $0.95 EPS for the current fiscal year.
Hedge funds have recently modified their holdings of the company. Meiji Yasuda Asset Management Co Ltd. purchased a new stake in shares of Transocean during the first quarter valued at approximately $108,000. Simmons Bank purchased a new stake in shares of Transocean during the first quarter valued at approximately $110,000. Lee Danner & Bass Inc. purchased a new stake in shares of Transocean during the second quarter valued at approximately $119,000. Mariner Wealth Advisors LLC purchased a new stake in shares of Transocean during the second quarter valued at approximately $120,000. Finally, Capstone Investment Advisors LLC purchased a new stake in shares of Transocean during the second quarter valued at approximately $121,000. 71.55% of the stock is owned by institutional investors.
Transocean Company Profile
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.
To view Vetr’s full report, visit Vetr’s official website.
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