Transocean Ltd. (NYSE:RIG) Given Average Recommendation of “Hold” by Brokerages

Shares of Transocean Ltd. (NYSE:RIG) have earned a consensus rating of “Hold” from the nine ratings firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $7.13.

A number of equities analysts have recently commented on the stock. StockNews.com raised shares of Transocean to a “sell” rating in a report on Thursday, September 26th. Morgan Stanley lifted their price objective on shares of Transocean from $5.00 to $6.00 and gave the company an “equal weight” rating in a research note on Thursday. DNB Markets upgraded shares of Transocean from a “hold” rating to a “buy” rating in a research note on Tuesday, September 3rd. Citigroup cut Transocean from a “buy” rating to a “neutral” rating in a research report on Thursday, September 12th. Finally, Benchmark reaffirmed a “buy” rating and set a $8.00 price objective on shares of Transocean in a research report on Friday, August 2nd.

Insider Buying and Selling at Transocean

In related news, Director Perestroika purchased 1,500,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was acquired at an average price of $4.13 per share, for a total transaction of $6,195,000.00. Following the acquisition, the director now directly owns 91,074,894 shares of the company’s stock, valued at $376,139,312.22. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Perestroika purchased 1,500,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were acquired at an average price of $4.13 per share, with a total value of $6,195,000.00. Following the purchase, the director now directly owns 91,074,894 shares of the company’s stock, valued at $376,139,312.22. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director (Cyprus) Ltd Perestroika acquired 2,000,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average cost of $5.23 per share, with a total value of $10,460,000.00. Following the completion of the purchase, the director now directly owns 89,574,894 shares in the company, valued at $468,476,695.62. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 13.16% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Transocean

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Transocean by 0.6% during the first quarter. Vanguard Group Inc. now owns 68,982,142 shares of the offshore drilling services provider’s stock worth $433,208,000 after acquiring an additional 429,950 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Transocean by 76.9% in the 1st quarter. Russell Investments Group Ltd. now owns 402,839 shares of the offshore drilling services provider’s stock valued at $2,530,000 after buying an additional 175,130 shares in the last quarter. Swiss National Bank grew its holdings in Transocean by 3.6% during the 1st quarter. Swiss National Bank now owns 1,437,730 shares of the offshore drilling services provider’s stock valued at $9,029,000 after buying an additional 49,800 shares during the last quarter. Quadrature Capital Ltd increased its position in Transocean by 199.8% during the fourth quarter. Quadrature Capital Ltd now owns 522,973 shares of the offshore drilling services provider’s stock worth $3,323,000 after buying an additional 348,507 shares in the last quarter. Finally, Banque Cantonale Vaudoise purchased a new position in Transocean during the first quarter worth $1,521,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Transocean Stock Performance

NYSE RIG opened at $4.67 on Monday. The company has a fifty day moving average of $4.74 and a two-hundred day moving average of $5.37. The company has a market capitalization of $4.09 billion, a PE ratio of -8.98 and a beta of 2.79. Transocean has a 1 year low of $3.85 and a 1 year high of $8.03. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.36 and a quick ratio of 1.08.

Transocean (NYSE:RIG) last released its quarterly earnings results on Wednesday, July 31st. The offshore drilling services provider reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.07). Transocean had a negative return on equity of 4.76% and a negative net margin of 11.34%. The firm had revenue of $861.00 million for the quarter, compared to analysts’ expectations of $862.25 million. During the same quarter in the prior year, the business earned ($0.15) EPS. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. As a group, analysts expect that Transocean will post -0.18 earnings per share for the current year.

Transocean Company Profile

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. The company operates a fleet of mobile offshore drilling units, consisting of ultra-deepwater floaters and harsh environment floaters.