Shares of Transocean Ltd. (NYSE:RIG – Get Free Report) 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.
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Insider Buying and Selling at Transocean
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 – Get Free Report) 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.
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