Transocean LTD (NYSE:RIG)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $10.79, but opened at $11.05. Transocean shares last traded at $11.43, with a volume of 18163971 shares traded.

A number of equities analysts recently issued reports on the stock. Fearnley Fonds cut shares of Transocean from a “buy” rating to an “accumulate” rating in a research report on Wednesday, August 1st. Tudor Pickering upgraded shares of Transocean from a “hold” rating to a “buy” rating in a research report on Thursday, July 12th. ValuEngine upgraded shares of Transocean from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 7th. Citigroup decreased their price target on shares of Transocean from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, June 21st. Finally, Susquehanna Bancshares upgraded shares of Transocean from a “neutral” rating to a “positive” rating and upped their price target for the company from $11.00 to $16.00 in a research report on Monday, July 9th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $12.75.

The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.35 and a current ratio of 1.49. The company has a market cap of $5.01 billion, a P/E ratio of -192.83 and a beta of 1.49.

Transocean (NYSE:RIG) last posted its quarterly earnings data on Monday, July 30th. The offshore drilling services provider reported ($0.04) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.13. Transocean had a negative net margin of 99.38% and a negative return on equity of 2.00%. The company had revenue of $790.00 million for the quarter, compared to analyst estimates of $768.68 million. Transocean’s quarterly revenue was up 5.2% on a year-over-year basis. equities analysts predict that Transocean LTD will post -0.85 EPS for the current year.

In other news, Director Vincent J. Intrieri acquired 10,000 shares of Transocean stock in a transaction dated Thursday, August 16th. The shares were bought at an average cost of $10.62 per share, with a total value of $106,200.00. Following the purchase, the director now owns 10,000 shares in the company, valued at approximately $106,200. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 14.09% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Flagship Harbor Advisors LLC bought a new position in Transocean during the second quarter worth $101,000. Blue Chip Wealth Management Inc. bought a new position in Transocean during the first quarter worth $103,000. Marathon Trading Investment Management LLC boosted its stake in Transocean by 136.9% during the first quarter. Marathon Trading Investment Management LLC now owns 11,058 shares of the offshore drilling services provider’s stock worth $109,000 after acquiring an additional 41,058 shares in the last quarter. Quantitative Systematic Strategies LLC bought a new position in Transocean during the first quarter worth $135,000. Finally, United Capital Financial Advisers LLC bought a new position in Transocean during the first quarter worth $150,000. 70.75% of the stock is currently owned by institutional investors and hedge funds.

About Transocean (NYSE:RIG)

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. The company primarily offers deepwater and harsh environment drilling services. As of February 20, 2018, it owned or had partial ownership interests in, and operated 47 mobile offshore drilling units that consist of 27 ultra-deepwater floaters, 12 harsh environment floaters, 2 deepwater floaters, 6 midwater floaters, and 2 high-specification jackups.

Read More: What are the Benefits of Index Funds?

Receive News & Ratings for Transocean Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Transocean and related companies with MarketBeat.com's FREE daily email newsletter.