Transocean Ltd. (NYSE:RIG) Given Average Rating of “Hold” by Analysts

Transocean Ltd. (NYSE:RIG) has earned an average rating of “Hold” from the eleven brokerages that are currently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $6.9643.

A number of equities analysts recently issued reports on RIG shares. Susquehanna raised their price objective on shares of Transocean from $7.50 to $8.00 and gave the stock a “positive” rating in a report on Tuesday, April 7th. TD Cowen boosted their price objective on shares of Transocean from $5.50 to $6.00 and gave the company a “hold” rating in a research report on Wednesday, May 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Transocean in a research note on Tuesday, April 21st. Fearnley Fonds downgraded Transocean from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 10th. Finally, BTIG Research upped their price target on Transocean from $6.00 to $10.00 and gave the stock a “buy” rating in a research report on Monday, February 9th.

Transocean Price Performance

Shares of RIG opened at $6.19 on Friday. The firm has a fifty day simple moving average of $6.55 and a two-hundred day simple moving average of $5.48. The firm has a market cap of $6.91 billion, a PE ratio of -2.08 and a beta of 1.34. The company has a current ratio of 1.54, a quick ratio of 1.20 and a debt-to-equity ratio of 0.60. Transocean has a 1-year low of $2.47 and a 1-year high of $7.66.

Transocean (NYSE:RIG) last posted its quarterly earnings data on Monday, May 4th. The offshore drilling services provider reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.10). The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Transocean had a negative net margin of 66.79% and a positive return on equity of 0.88%. The firm’s revenue was up 19.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.10) EPS. On average, equities analysts anticipate that Transocean will post 0.19 EPS for the current year.

Insider Activity

In other news, EVP Roderick James Mackenzie sold 78,370 shares of the firm’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $6.36, for a total transaction of $498,433.20. Following the sale, the executive vice president directly owned 268,025 shares in the company, valued at $1,704,639. This trade represents a 22.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 9.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Transocean

Institutional investors and hedge funds have recently bought and sold shares of the business. Dalal Street LLC purchased a new position in Transocean in the 3rd quarter worth approximately $76,260,000. Ghisallo Capital Management LLC purchased a new stake in Transocean during the 3rd quarter valued at approximately $57,720,000. Elliott Investment Management L.P. bought a new stake in shares of Transocean during the first quarter valued at approximately $103,606,000. Vanguard Group Inc. lifted its holdings in shares of Transocean by 19.3% in the third quarter. Vanguard Group Inc. now owns 94,519,248 shares of the offshore drilling services provider’s stock worth $294,900,000 after buying an additional 15,315,289 shares in the last quarter. Finally, Zimmer Partners LP bought a new position in shares of Transocean during the third quarter worth $30,262,000. 67.73% of the stock is owned by institutional investors.

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.