Transocean (NYSE:RIG) Reaches New 12-Month Low at $3.91

Transocean Ltd. (NYSE:RIG) reached a new 52-week low during trading on Tuesday . The company traded as low as $3.91 and last traded at $3.91, with a volume of 5240899 shares traded. The stock had previously closed at $4.16.

Analyst Ratings Changes

RIG has been the topic of several recent analyst reports. StockNews.com raised shares of Transocean to a “sell” rating in a report on Monday, August 5th. DNB Markets upgraded shares of Transocean from a “hold” rating to a “buy” rating in a research report on Tuesday, September 3rd. 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. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Transocean currently has an average rating of “Hold” and a consensus target price of $7.25.

Transocean Trading Down 4.6 %

The stock has a market capitalization of $3.48 billion, a P/E ratio of -7.54 and a beta of 2.80. The business has a 50 day simple moving average of $5.10 and a 200-day simple moving average of $5.49. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.08 and a current ratio of 1.36.

Transocean (NYSE:RIG) last announced its quarterly earnings data on Wednesday, July 31st. The offshore drilling services provider reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.07). The company had revenue of $861.00 million for the quarter, compared to analyst estimates of $862.25 million. Transocean had a negative net margin of 11.34% and a negative return on equity of 4.76%. Transocean’s revenue was up 18.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.15) EPS. On average, analysts predict that Transocean Ltd. will post -0.19 EPS for the current year.

Insider Transactions at Transocean

In related news, Director (Cyprus) Ltd Perestroika purchased 2,000,000 shares of Transocean stock in a transaction on Friday, August 2nd. The stock was bought at an average price of $5.23 per share, with a total value of $10,460,000.00. Following the completion of the transaction, the director now directly owns 89,574,894 shares of the company’s stock, valued at $468,476,695.62. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 13.16% of the stock is currently owned by insiders.

Institutional Trading of Transocean

Large investors have recently modified their holdings of the company. Cloverfields Capital Group LP acquired a new position in Transocean during the 4th quarter worth $1,008,000. Vanguard Group Inc. increased its stake in shares of Transocean by 0.6% in 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 purchasing an additional 429,950 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Transocean by 76.9% during the 1st quarter. Russell Investments Group Ltd. now owns 402,839 shares of the offshore drilling services provider’s stock worth $2,530,000 after purchasing an additional 175,130 shares during the last quarter. Jump Financial LLC boosted its stake in Transocean by 332.4% during the 4th quarter. Jump Financial LLC now owns 383,941 shares of the offshore drilling services provider’s stock valued at $2,438,000 after purchasing an additional 295,154 shares during the period. Finally, Fisher Asset Management LLC grew its holdings in Transocean by 11.0% in the 4th quarter. Fisher Asset Management LLC now owns 27,714 shares of the offshore drilling services provider’s stock valued at $176,000 after buying an additional 2,743 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

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.