Transocean Ltd. (RIG) Upgraded at Howard Weil
Howard Weil upgraded shares of Transocean Ltd. (NYSE:RIG) from a sector perform rating to a sector outperform rating in a research report sent to investors on Tuesday morning. They currently have $14.00 price objective on the offshore drilling services provider’s stock, up from their prior price objective of $12.00.
Other analysts also recently issued reports about the company. Jefferies Group restated a hold rating on shares of Transocean in a report on Sunday, July 10th. Credit Suisse Group AG restated a sell rating on shares of Transocean in a report on Saturday, July 9th. Clarkson Capital reiterated a neutral rating and issued a $12.00 price target on shares of Transocean in a report on Thursday, August 4th. Vetr reiterated a buy rating and issued a $10.74 price target on shares of Transocean in a report on Thursday, August 18th. Finally, Royal Bank Of Canada lowered their price target on Transocean from $14.00 to $11.00 and set a sector perform rating for the company in a report on Friday, August 12th. Ten equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company. Transocean has an average rating of Hold and a consensus price target of $10.34.
Shares of Transocean (NYSE:RIG) opened at 10.12 on Tuesday. The stock has a 50 day moving average price of $9.78 and a 200 day moving average price of $10.33. The stock has a market capitalization of $3.70 billion, a P/E ratio of 2.95 and a beta of 1.91. Transocean has a 12-month low of $7.67 and a 12-month high of $17.17.
Transocean (NYSE:RIG) last released its quarterly earnings data on Wednesday, August 3rd. The offshore drilling services provider reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.18. The business earned $943 million during the quarter. Transocean had a return on equity of 8.46% and a net margin of 21.91%. The company’s quarterly revenue was down 49.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.11 earnings per share. On average, equities analysts anticipate that Transocean will post $0.94 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Lee Danner & Bass Inc. purchased a new position in Transocean during the second quarter worth approximately $119,000. Mariner Wealth Advisors LLC purchased a new position in Transocean during the second quarter worth approximately $120,000. Capstone Investment Advisors LLC purchased a new position in Transocean during the second quarter worth approximately $121,000. Thrivent Financial for Lutherans raised its position in Transocean by 0.4% in the second quarter. Thrivent Financial for Lutherans now owns 10,390 shares of the offshore drilling services provider’s stock worth $124,000 after buying an additional 40 shares in the last quarter. Finally, Beech Hill Advisors Inc. purchased a new position in Transocean during the second quarter worth approximately $128,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.
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.
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