Analysts Set Transocean Ltd. (NYSE:RIG) PT at $4.38

Transocean Ltd. (NYSE:RIG) has earned an average recommendation of “Hold” from the seven analysts that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $4.3833.

RIG has been the topic of several research analyst reports. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Transocean in a report on Wednesday, December 10th. Barclays boosted their target price on Transocean from $4.00 to $4.50 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. Susquehanna raised their price target on Transocean from $4.50 to $5.00 and gave the company a “positive” rating in a report on Wednesday, January 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Transocean in a research report on Wednesday, October 8th. Finally, Morgan Stanley set a $4.50 price objective on shares of Transocean in a research report on Monday, December 15th.

Insider Transactions at Transocean

In other news, insider Jeremy D. Thigpen sold 500,000 shares of the firm’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $4.32, for a total transaction of $2,160,000.00. Following the sale, the insider owned 2,136,223 shares in the company, valued at approximately $9,228,483.36. This trade represents a 18.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Keelan Adamson sold 57,968 shares of Transocean stock in a transaction on Friday, December 5th. The stock was sold at an average price of $4.50, for a total transaction of $260,856.00. Following the sale, the chief executive officer directly owned 1,303,715 shares of the company’s stock, valued at $5,866,717.50. This represents a 4.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 685,206 shares of company stock worth $2,952,015. Company insiders own 12.27% of the company’s stock.

Hedge Funds Weigh In On Transocean

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

Transocean Trading Up 1.5%

Shares of RIG opened at $4.70 on Friday. Transocean has a twelve month low of $1.97 and a twelve month high of $4.72. The stock has a market cap of $5.18 billion, a PE ratio of -1.43 and a beta of 1.36. The company has a quick ratio of 0.91, a current ratio of 1.08 and a debt-to-equity ratio of 0.60. The business’s 50-day moving average price is $4.20 and its 200-day moving average price is $3.57.

Transocean (NYSE:RIG) last issued its quarterly earnings data on Wednesday, October 29th. The offshore drilling services provider reported $0.06 EPS for the quarter, beating the consensus estimate of $0.04 by $0.02. Transocean had a negative net margin of 75.71% and a positive return on equity of 0.45%. The company had revenue of ($1,894.00) million during the quarter, compared to analysts’ expectations of $1.01 billion. The business’s quarterly revenue was up 8.4% on a year-over-year basis. On average, equities analysts forecast that Transocean will post 0.14 EPS for the current fiscal year.

About Transocean

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.