Transocean Ltd. (NYSE:RIG) Receives Consensus Rating of “Hold” from Analysts

Transocean Ltd. (NYSE:RIG) has been given an average recommendation of “Hold” by the ten brokerages that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $7.70.

A number of equities research analysts have recently issued reports on RIG shares. Bank of America boosted their price objective on Transocean from $5.50 to $6.00 and gave the stock an “underperform” rating in a report on Monday, April 15th. Evercore ISI reduced their price objective on Transocean from $9.00 to $7.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Susquehanna upgraded Transocean from a “neutral” rating to a “positive” rating and boosted their price target for the company from $5.50 to $9.00 in a research note on Monday, April 8th. Finally, Benchmark restated a “buy” rating and set a $8.00 price objective on shares of Transocean in a research report on Tuesday, April 30th.

Insider Buying and Selling

In other news, Director (Cyprus) Ltd Perestroika acquired 2,000,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was purchased at an average price of $6.01 per share, for a total transaction of $12,020,000.00. Following the purchase, the director now owns 87,574,894 shares in the company, valued at approximately $526,325,112.94. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 13.16% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Transocean

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Transocean by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 68,982,142 shares of the offshore drilling services provider’s stock valued at $433,208,000 after buying an additional 429,950 shares during the last quarter. Primecap Management Co. CA increased its stake in shares of Transocean by 11.4% during the 4th quarter. Primecap Management Co. CA now owns 50,699,389 shares of the offshore drilling services provider’s stock worth $321,941,000 after purchasing an additional 5,168,000 shares during the last quarter. Capital World Investors increased its stake in shares of Transocean by 18.8% during the 1st quarter. Capital World Investors now owns 46,334,990 shares of the offshore drilling services provider’s stock worth $290,984,000 after purchasing an additional 7,320,672 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Transocean by 23.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 35,690,620 shares of the offshore drilling services provider’s stock worth $226,641,000 after purchasing an additional 6,719,483 shares during the last quarter. Finally, Van ECK Associates Corp increased its stake in shares of Transocean by 7.0% during the 1st quarter. Van ECK Associates Corp now owns 17,013,964 shares of the offshore drilling services provider’s stock worth $106,848,000 after purchasing an additional 1,105,747 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Transocean Trading Up 0.3 %

Transocean stock opened at $5.35 on Friday. Transocean has a 52 week low of $4.45 and a 52 week high of $8.88. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.04 and a current ratio of 1.35. The stock has a market capitalization of $4.38 billion, a P/E ratio of -10.28 and a beta of 2.82. The stock has a 50-day simple moving average of $5.64 and a 200 day simple moving average of $5.69.

Transocean (NYSE:RIG) last posted its quarterly earnings results on Monday, April 29th. The offshore drilling services provider reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.10. Transocean had a negative return on equity of 4.67% and a negative net margin of 13.27%. The business had revenue of $767.00 million during the quarter, compared to analysts’ expectations of $781.86 million. During the same quarter last year, the company posted ($0.38) earnings per share. Transocean’s quarterly revenue was up 18.2% on a year-over-year basis. Analysts expect that Transocean will post -0.04 earnings per share for the current year.

About Transocean

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.