Transocean Ltd. (NYSE:RIG) – Equities researchers at Capital One Financial Corporation reduced their Q4 2016 EPS estimates for Transocean in a research report issued on Tuesday. Capital One Financial Corporation analyst J. Gibney now forecasts that the firm will earn $0.08 per share for the quarter, down from their previous forecast of $0.11. Capital One Financial Corporation has a “Equal Weight” rating on the stock.

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Earnings History and Estimates for Transocean (NYSE:RIG)

Several other brokerages have also recently issued reports on RIG. BMO Capital Markets set a $10.00 price objective on Transocean and gave the company a “sell” rating in a report on Thursday, January 12th. Bank of America Corporation cut Transocean from a “buy” rating to an “underperform” rating and boosted their price objective for the company from $13.00 to $16.00 in a report on Monday, January 9th. Iberia Capital began coverage on Transocean in a report on Friday, January 6th. They issued a “sector perform” rating and a $15.00 price objective for the company. Canaccord Genuity reissued a “buy” rating and issued a $17.00 price objective on shares of Transocean in a report on Friday, January 6th. Finally, Evercore ISI reissued a “buy” rating and issued a $18.00 price objective on shares of Transocean in a report on Monday, December 19th. Twelve analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $13.29.

Transocean (NYSE:RIG) opened at 13.17 on Thursday. Transocean has a 52 week low of $7.66 and a 52 week high of $16.66. The company has a market capitalization of $4.81 billion, a price-to-earnings ratio of 4.16 and a beta of 1.87. The company’s 50-day moving average price is $14.57 and its 200-day moving average price is $11.89.

This story was originally posted by Daily Political and is owned by of Daily Political. If you are accessing this story on another publication, it was illegally stolen and reposted in violation of U.S. & international copyright & trademark legislation. The original version of this story can be read at http://www.dailypolitical.com/2017/02/16/q4-2016-eps-estimates-for-transocean-ltd-lowered-by-capital-one-financial-corporation-rig.html.

Several institutional investors have recently modified their holdings of RIG. State Street Corp raised its position in shares of Transocean by 3.1% in the fourth quarter. State Street Corp now owns 19,710,400 shares of the offshore drilling services provider’s stock valued at $290,542,000 after buying an additional 595,479 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Transocean by 7.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 11,128,617 shares of the offshore drilling services provider’s stock valued at $164,037,000 after buying an additional 770,565 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Transocean by 3.7% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 10,003,419 shares of the offshore drilling services provider’s stock valued at $106,636,000 after buying an additional 355,942 shares during the last quarter. BlackRock Fund Advisors raised its position in shares of Transocean by 3.0% in the third quarter. BlackRock Fund Advisors now owns 6,539,565 shares of the offshore drilling services provider’s stock valued at $69,712,000 after buying an additional 191,949 shares during the last quarter. Finally, Contrarius Investment Management Ltd purchased a new position in shares of Transocean during the third quarter valued at about $59,302,000. 63.84% of the stock is currently owned by institutional investors.

About Transocean

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.

5 Day Chart for NYSE:RIG

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