Transocean Ltd. (NYSE:RIG) Receives $4.48 Consensus Target Price from Analysts

Shares of Transocean Ltd. (NYSE:RIG) have earned an average rating of “Hold” from the nine brokerages that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $4.4750.

A number of equities research analysts have recently commented on RIG shares. Citigroup increased their target price on shares of Transocean from $4.25 to $4.50 and gave the company a “neutral” rating in a research report on Thursday, December 11th. Barclays increased their price objective on shares of Transocean from $4.00 to $4.50 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Transocean in a report on Wednesday, October 8th. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Transocean in a report on Wednesday, December 10th. Finally, Morgan Stanley set a $4.50 price objective on Transocean in a research note on Monday, December 15th.

Insider Activity

In related news, insider Jeremy D. Thigpen sold 500,000 shares of the company’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $4.32, for a total value of $2,160,000.00. Following the completion of the sale, the insider owned 2,136,223 shares of the company’s stock, valued at approximately $9,228,483.36. This represents a 18.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Frederik Wilhelm Mohn bought 1,500,000 shares of Transocean stock in a transaction on Monday, November 24th. The shares were purchased at an average cost of $4.02 per share, for a total transaction of $6,030,000.00. Following the completion of the purchase, the director directly owned 96,574,894 shares of the company’s stock, valued at $388,231,073.88. This trade represents a 1.58% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have sold 726,148 shares of company stock worth $3,115,783. Insiders own 12.54% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp grew its holdings in shares of Transocean by 9.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 35,604 shares of the offshore drilling services provider’s stock worth $114,000 after purchasing an additional 2,932 shares during the period. J.W. Cole Advisors Inc. boosted its stake in Transocean by 3.5% during the third quarter. J.W. Cole Advisors Inc. now owns 100,634 shares of the offshore drilling services provider’s stock worth $314,000 after buying an additional 3,367 shares during the period. Moors & Cabot Inc. boosted its stake in Transocean by 14.7% during the second quarter. Moors & Cabot Inc. now owns 27,350 shares of the offshore drilling services provider’s stock worth $71,000 after buying an additional 3,500 shares during the period. Mercer Global Advisors Inc. ADV increased its position in shares of Transocean by 20.0% during the third quarter. Mercer Global Advisors Inc. ADV now owns 24,175 shares of the offshore drilling services provider’s stock valued at $75,000 after acquiring an additional 4,026 shares during the last quarter. Finally, HBK Sorce Advisory LLC lifted its holdings in shares of Transocean by 34.5% in the 2nd quarter. HBK Sorce Advisory LLC now owns 16,134 shares of the offshore drilling services provider’s stock worth $42,000 after acquiring an additional 4,139 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Transocean Price Performance

Shares of Transocean stock opened at $4.02 on Wednesday. The stock has a market capitalization of $4.42 billion, a P/E ratio of -1.22 and a beta of 1.39. The business has a 50 day simple moving average of $4.03 and a two-hundred day simple moving average of $3.39. Transocean has a 12 month low of $1.97 and a 12 month high of $4.56. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.08 and a quick ratio of 0.91.

Transocean (NYSE:RIG) last issued its quarterly earnings results on Wednesday, October 29th. The offshore drilling services provider reported $0.06 EPS for the quarter, topping the consensus estimate of $0.04 by $0.02. The firm had revenue of ($1,894.00) million during the quarter, compared to analysts’ expectations of $1.01 billion. Transocean had a positive return on equity of 0.45% and a negative net margin of 75.71%.The firm’s revenue was up 8.4% compared to the same quarter last year. As a group, analysts predict that Transocean will post 0.14 EPS for the current fiscal year.

Transocean Company Profile

Transocean Ltd. is a leading international provider of offshore contract drilling services for the oil and gas industry. The company specializes in the operation of mobile drilling units, including ultra-deepwater drillships, semisubmersible rigs and high-specification jackup rigs. Transocean’s fleet is designed to meet complex drilling requirements, from ultra-deepwater well construction to shelf exploration and development projects.

The company’s core services encompass the full spectrum of offshore drilling operations, including project and engineering management, marine operations, drilling supervision, and maintenance support.