A number of research firms have changed their ratings and price targets for Transocean (NYSE: RIG):

  • 8/6/2017 – Transocean was given a new $9.00 price target on by analysts at Barclays PLC. They now have a “sell” rating on the stock.
  • 8/2/2017 – Transocean was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $9.50 price target on the stock. According to Zacks, “Despite a difficult operating environment, Transocean has maintained its excellent track record of earnings surprise history, beating estimates in the last 15 quarters. As it is, we are a fan of Transocean's technologically advanced and versatile drilling fleet, strong backlog and considerable pricing power. With the market for offshore rigs unlikely to turn around anytime soon, the company has been selling/stacking older rigs as well as investing in high-specification rigs in order to improve the quality of its fleet. We also appreciate the agressive cost cut initiatives the company is undertaking to shore up its financials. Strong liquidity and managable leverage gives it enough financial flexibility to make acquisitions ang grow internally . All these factors account for our bullish stance on the prospects of the stock.”
  • 7/26/2017 – Transocean had its “sell” rating reaffirmed by analysts at Seaport Global Securities.
  • 7/22/2017 – Transocean had its “market perform” rating reaffirmed by analysts at Wells Fargo & Company.
  • 7/19/2017 – Transocean had its “buy” rating reaffirmed by analysts at Credit Suisse Group.
  • 7/18/2017 – Transocean had its “hold” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $9.50 price target on the stock, down previously from $11.50.
  • 7/6/2017 – Transocean was downgraded by analysts at Sanford C. Bernstein from an “outperform” rating to a “market perform” rating. They now have a $9.00 price target on the stock, down previously from $16.50.
  • 7/1/2017 – Transocean was given a new $12.00 price target on by analysts at Jefferies Group LLC. They now have a “hold” rating on the stock.
  • 6/23/2017 – Transocean was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 6/16/2017 – Transocean had its price target lowered by analysts at Morgan Stanley from $13.00 to $12.00. They now have an “underweight” rating on the stock.
  • 6/14/2017 – Transocean was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.

Transocean Ltd. (RIG) traded down 3.53% during trading on Monday, hitting $8.75. 15,223,802 shares of the company traded hands. The firm has a 50 day moving average of $8.39 and a 200 day moving average of $11.18. The firm’s market cap is $3.42 billion. Transocean Ltd. has a one year low of $7.67 and a one year high of $16.66.

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 on a dayrate basis to drill oil and gas wells. As of February 9, 2017, it owned or had partial ownership interests in and operated 56 mobile offshore drilling units.

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