Jefferies Group LLC reissued their hold rating on shares of Transocean LTD (NYSE:RIG) in a report released on Friday morning. The brokerage currently has a $9.00 price objective on the offshore drilling services provider’s stock.

Several other analysts have also issued reports on RIG. Goldman Sachs Group Inc upgraded shares of Transocean LTD from a sell rating to a neutral rating and lifted their target price for the company from $8.57 to $9.75 in a research report on Wednesday, August 9th. Evercore ISI reiterated a buy rating and issued a $18.00 target price on shares of Transocean LTD in a research report on Thursday, August 10th. Instinet reiterated a reduce rating and issued a $7.00 target price (down previously from $8.00) on shares of Transocean LTD in a research report on Saturday, August 19th. Bank of America Corporation upgraded shares of Transocean LTD from an underperform rating to a neutral rating and lifted their target price for the company from $7.00 to $9.00 in a research report on Tuesday, August 15th. Finally, ValuEngine upgraded shares of Transocean LTD from a hold rating to a buy rating in a research report on Thursday, August 17th. Ten research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fifteen have issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $12.32.

Transocean LTD (NYSE RIG) opened at 10.035 on Friday. Transocean LTD has a 12-month low of $7.20 and a 12-month high of $16.66. The company’s market cap is $3.93 billion. The firm’s 50 day moving average is $8.40 and its 200 day moving average is $9.81.

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In related news, CAO Howard E. Davis bought 40,000 shares of the stock in a transaction dated Thursday, August 17th. The stock was acquired at an average price of $7.32 per share, for a total transaction of $292,800.00. Following the acquisition, the chief accounting officer now owns 21,793 shares in the company, valued at approximately $159,524.76. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. boosted its stake in Transocean LTD by 230.6% during the 1st quarter. Russell Investments Group Ltd. now owns 196,778 shares of the offshore drilling services provider’s stock worth $2,452,000 after purchasing an additional 137,248 shares during the period. Wells Fargo & Company MN boosted its stake in Transocean LTD by 21.6% during the 1st quarter. Wells Fargo & Company MN now owns 481,855 shares of the offshore drilling services provider’s stock worth $6,000,000 after purchasing an additional 85,486 shares during the period. Bank of New York Mellon Corp boosted its stake in Transocean LTD by 0.4% during the 1st quarter. Bank of New York Mellon Corp now owns 3,596,299 shares of the offshore drilling services provider’s stock worth $44,773,000 after purchasing an additional 16,110 shares during the period. LS Investment Advisors LLC boosted its stake in Transocean LTD by 56.2% during the 1st quarter. LS Investment Advisors LLC now owns 16,151 shares of the offshore drilling services provider’s stock worth $201,000 after purchasing an additional 5,813 shares during the period. Finally, Swiss National Bank boosted its stake in Transocean LTD by 0.5% during the 1st quarter. Swiss National Bank now owns 641,230 shares of the offshore drilling services provider’s stock worth $7,983,000 after purchasing an additional 3,300 shares during the period. Institutional investors and hedge funds own 67.81% of the company’s stock.

About Transocean LTD

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.

Analyst Recommendations for Transocean LTD (NYSE:RIG)

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