Credit Suisse Group set a $16.00 price target on Transocean (NYSE:RIG) in a research note published on Saturday. The brokerage currently has a buy rating on the offshore drilling services provider’s stock.

RIG has been the topic of a number of other research reports. HSBC raised Transocean from a hold rating to a buy rating and set a $11.50 price objective on the stock in a research note on Wednesday, April 4th. Royal Bank of Canada set a $11.00 price objective on Transocean and gave the stock a hold rating in a research note on Thursday, December 21st. Susquehanna Bancshares set a $11.00 price objective on Transocean and gave the stock a hold rating in a research note on Friday, January 12th. Jefferies Group raised Transocean from a hold rating to a buy rating and set a $13.00 price objective on the stock in a research note on Thursday, January 4th. Finally, ValuEngine lowered Transocean from a hold rating to a sell rating in a research note on Sunday, December 31st. Eight equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $11.56.

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NYSE RIG opened at $11.82 on Friday. The firm has a market cap of $5,318.82, a price-to-earnings ratio of -197.00 and a beta of 1.50. The company has a current ratio of 3.36, a quick ratio of 3.06 and a debt-to-equity ratio of 0.56. Transocean has a fifty-two week low of $7.20 and a fifty-two week high of $12.40.

Transocean (NYSE:RIG) last released its quarterly earnings data on Tuesday, February 20th. The offshore drilling services provider reported ($0.24) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.21) by ($0.03). The company had revenue of $629.00 million for the quarter, compared to analyst estimates of $619.66 million. Transocean had a negative return on equity of 0.17% and a negative net margin of 105.18%. The business’s quarterly revenue was down 35.4% on a year-over-year basis. During the same period last year, the firm posted $0.69 EPS. equities analysts anticipate that Transocean will post -0.75 EPS for the current year.

In related news, SVP David A. Tonnel sold 9,000 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $9.39, for a total value of $84,510.00. Following the sale, the senior vice president now owns 75,349 shares in the company, valued at approximately $707,527.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Frederik Wilhelm Mohn acquired 2,000,000 shares of the business’s stock in a transaction that occurred on Friday, March 2nd. The stock was purchased at an average price of $9.29 per share, for a total transaction of $18,580,000.00. The disclosure for this purchase can be found here. 14.09% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of RIG. Advisors Preferred LLC raised its holdings in shares of Transocean by 1,198.9% in the 4th quarter. Advisors Preferred LLC now owns 9,508 shares of the offshore drilling services provider’s stock valued at $102,000 after buying an additional 8,776 shares during the period. Princeton Capital Management LLC acquired a new position in Transocean during the 4th quarter worth $107,000. Cushing Asset Management LP acquired a new position in Transocean during the 4th quarter worth $107,000. Bluestein R H & Co. acquired a new position in Transocean during the 4th quarter worth $108,000. Finally, Suntrust Banks Inc. acquired a new position in Transocean during the 4th quarter worth $112,000. Hedge funds and other institutional investors own 63.84% of the company’s stock.

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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 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 (NYSE:RIG)

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