BMO Capital Markets Reiterates $10.00 Price Target for Transocean Ltd. (RIG)
Transocean Ltd. (NYSE:RIG) has been given a $10.00 target price by equities researchers at BMO Capital Markets in a research report issued to clients and investors on Thursday. The firm presently has a “sell” rating on the offshore drilling services provider’s stock. BMO Capital Markets’ price target suggests a potential downside of 36.87% from the stock’s current price.
A number of other analysts also recently commented on RIG. Goldman Sachs Group, Inc. (The) reiterated a “sell” rating on shares of Transocean in a research report on Friday, September 23rd. Howard Weil started coverage on Transocean in a research report on Wednesday, September 14th. They set a “sector perform” rating and a $12.00 target price on the stock. Canaccord Genuity upgraded Transocean from a “hold” rating to a “buy” rating in a research report on Thursday, November 3rd. Zephirin Group upgraded Transocean from a “hold” rating to a “buy” rating in a research report on Monday, September 19th. Finally, Jefferies Group set a $9.00 target price on Transocean and gave the stock a “hold” rating in a research report on Wednesday, September 28th. Eleven research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $12.49.
Transocean (NYSE:RIG) traded down 1.33% during trading on Thursday, hitting $15.63. The stock had a trading volume of 4,903,283 shares. The firm has a market cap of $5.71 billion, a price-to-earnings ratio of 4.94 and a beta of 1.99. Transocean has a one year low of $7.67 and a one year high of $16.66. The stock’s 50-day moving average is $14.56 and its 200 day moving average is $11.46.
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Several hedge funds have recently made changes to their positions in the company. CIBC World Markets Inc. bought a new stake in shares of Transocean during the third quarter worth $108,000. Catalyst Capital Advisors LLC acquired a new stake in Transocean during the third quarter valued at approximately $112,000. Lee Danner & Bass Inc. acquired a new stake in Transocean during the second quarter valued at approximately $119,000. Public Employees Retirement Association of Colorado boosted its stake in Transocean by 0.4% in the third quarter. Public Employees Retirement Association of Colorado now owns 11,126 shares of the offshore drilling services provider’s stock valued at $119,000 after buying an additional 45 shares in the last quarter. Finally, Mariner Wealth Advisors LLC acquired a new stake in Transocean during the second quarter valued at approximately $120,000. Institutional investors and hedge funds own 62.54% 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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