Transocean (NYSE:RIG) PT Lowered to $4.50

Transocean (NYSE:RIG) had its price objective trimmed by Barclays from $6.00 to $4.50 in a research report report published on Wednesday, Benzinga reports. The brokerage currently has an equal weight rating on the offshore drilling services provider’s stock.

A number of other brokerages also recently weighed in on RIG. Susquehanna lowered their price target on Transocean from $8.00 to $7.00 and set a “positive” rating on the stock in a report on Friday, October 11th. DNB Markets raised shares of Transocean from a “hold” rating to a “buy” rating in a research report on Tuesday, September 3rd. Morgan Stanley raised their price target on shares of Transocean from $5.00 to $6.00 and gave the stock an “equal weight” rating in a report on Thursday, October 3rd. Citigroup lowered shares of Transocean from a “buy” rating to a “neutral” rating in a research note on Thursday, September 12th. Finally, StockNews.com raised shares of Transocean to a “sell” rating in a research note on Thursday, October 10th. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $6.69.

Transocean Price Performance

NYSE RIG opened at $4.14 on Wednesday. The company has a current ratio of 1.36, a quick ratio of 1.08 and a debt-to-equity ratio of 0.63. Transocean has a 1 year low of $3.85 and a 1 year high of $7.05. The company has a market cap of $3.62 billion, a PE ratio of -9.20 and a beta of 2.79. The stock’s 50-day moving average price is $4.43 and its two-hundred day moving average price is $5.15.

Transocean (NYSE:RIG) last issued its quarterly earnings results on Wednesday, July 31st. The offshore drilling services provider reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.07). Transocean had a negative net margin of 11.34% and a negative return on equity of 4.76%. The firm had revenue of $861.00 million during the quarter, compared to analysts’ expectations of $862.25 million. During the same quarter last year, the company posted ($0.15) EPS. The firm’s revenue was up 18.1% compared to the same quarter last year. On average, analysts predict that Transocean will post -0.18 EPS for the current year.

Insider Activity

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. increased its stake in shares of Transocean by 138.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,633 shares of the offshore drilling services provider’s stock worth $25,000 after purchasing an additional 2,693 shares during the period. Nisa Investment Advisors LLC bought a new position in Transocean in the 2nd quarter worth approximately $30,000. Fiducient Advisors LLC acquired a new position in shares of Transocean during the first quarter worth approximately $63,000. SG Americas Securities LLC bought a new stake in shares of Transocean in the second quarter valued at approximately $64,000. Finally, CWM LLC grew its stake in shares of Transocean by 36.1% in the third quarter. CWM LLC now owns 17,065 shares of the offshore drilling services provider’s stock worth $73,000 after acquiring an additional 4,529 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

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.