Transocean Ltd. (NYSE:RIG) Receives $5.75 Consensus PT from Brokerages

Transocean Ltd. (NYSE:RIG) has been given a consensus rating of “Hold” by the ten research firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $5.75.

A number of research firms have recently commented on RIG. StockNews.com upgraded shares of Transocean to a “sell” rating in a research report on Tuesday, November 12th. Evercore ISI lowered shares of Transocean from an “outperform” rating to an “in-line” rating and reduced their price target for the company from $6.00 to $5.00 in a research report on Wednesday, January 15th. JPMorgan Chase & Co. upgraded Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 price objective on the stock in a research report on Friday, December 6th. Barclays dropped their price target on Transocean from $4.50 to $4.00 and set an “overweight” rating for the company in a research report on Tuesday, February 25th. Finally, Benchmark restated a “hold” rating on shares of Transocean in a research report on Tuesday, December 3rd.

Transocean Trading Down 0.5 %

NYSE:RIG opened at $2.74 on Thursday. Transocean has a 1 year low of $2.55 and a 1 year high of $6.88. The stock’s fifty day moving average price is $3.70 and its two-hundred day moving average price is $4.09. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.47 and a quick ratio of 1.34. The company has a market cap of $2.40 billion, a P/E ratio of -3.75, a P/E/G ratio of 0.86 and a beta of 2.70.

Transocean (NYSE:RIG) last issued its quarterly earnings data on Monday, February 17th. The offshore drilling services provider reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.11). The company had revenue of $952.00 million for the quarter, compared to analysts’ expectations of $962.28 million. Transocean had a negative return on equity of 0.52% and a negative net margin of 14.53%. As a group, analysts expect that Transocean will post 0.14 EPS for the current year.

Insider Activity

In related news, EVP Roderick James Mackenzie sold 22,000 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $3.85, for a total value of $84,700.00. Following the sale, the executive vice president now directly owns 313,072 shares of the company’s stock, valued at $1,205,327.20. This trade represents a 6.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 13.16% of the stock is owned by corporate insiders.

Institutional Trading of Transocean

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Creative Planning lifted its position in shares of Transocean by 63.0% in the 3rd quarter. Creative Planning now owns 290,993 shares of the offshore drilling services provider’s stock worth $1,237,000 after purchasing an additional 112,512 shares during the period. International Assets Investment Management LLC lifted its holdings in Transocean by 335.3% in the third quarter. International Assets Investment Management LLC now owns 196,699 shares of the offshore drilling services provider’s stock worth $836,000 after buying an additional 151,507 shares during the period. Murphy Pohlad Asset Management LLC boosted its position in Transocean by 8.4% during the 3rd quarter. Murphy Pohlad Asset Management LLC now owns 106,950 shares of the offshore drilling services provider’s stock valued at $455,000 after acquiring an additional 8,300 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in shares of Transocean by 19.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 33,442 shares of the offshore drilling services provider’s stock worth $142,000 after acquiring an additional 5,344 shares in the last quarter. Finally, Atria Investments Inc bought a new position in shares of Transocean in the 3rd quarter worth approximately $51,000. Hedge funds and other 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.