Transocean Ltd. (NYSE:RIG) has received a consensus rating of “Hold” from the thirty-two analysts that are covering the firm. Ten research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $10.45.

RIG has been the topic of a number of research reports. Zacks Investment Research upgraded shares of Transocean from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Wednesday, June 29th. Vetr upgraded shares of Transocean from a “hold” rating to a “buy” rating and set a $10.68 target price on the stock in a report on Monday, August 1st. Zephirin Group upgraded shares of Transocean from a “hold” rating to a “buy” rating in a report on Monday, September 19th. Evercore ISI upgraded shares of Transocean from a “sell” rating to a “hold” rating and boosted their target price for the company from $11.00 to $12.00 in a report on Wednesday, June 29th. Finally, Jefferies Group restated a “hold” rating on shares of Transocean in a report on Sunday, July 10th.

A number of hedge funds have recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans raised its stake in Transocean by 0.4% in the second quarter. Thrivent Financial for Lutherans now owns 10,390 shares of the offshore drilling services provider’s stock valued at $124,000 after buying an additional 40 shares during the last quarter. Sheaff Brock Investment Advisors LLC raised its stake in Transocean by 0.7% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 15,207 shares of the offshore drilling services provider’s stock valued at $181,000 after buying an additional 100 shares during the last quarter. Shoker Investment Counsel Inc. raised its stake in Transocean by 0.5% in the second quarter. Shoker Investment Counsel Inc. now owns 22,226 shares of the offshore drilling services provider’s stock valued at $264,000 after buying an additional 116 shares during the last quarter. Norinchukin Bank The raised its stake in Transocean by 2.5% in the second quarter. Norinchukin Bank The now owns 18,006 shares of the offshore drilling services provider’s stock valued at $214,000 after buying an additional 441 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in Transocean by 1.1% in the second quarter. PNC Financial Services Group Inc. now owns 51,386 shares of the offshore drilling services provider’s stock valued at $612,000 after buying an additional 564 shares during the last quarter. Institutional investors own 71.51% of the company’s stock.

Transocean (NYSE:RIG) traded up 7.121% during mid-day trading on Wednesday, reaching $10.605. 15,739,319 shares of the company were exchanged. Transocean has a one year low of $7.67 and a one year high of $17.17. The stock has a 50-day moving average price of $9.76 and a 200 day moving average price of $10.36. The company has a market capitalization of $3.87 billion, a PE ratio of 3.093 and a beta of 1.91.

Transocean (NYSE:RIG) last announced its earnings results on Wednesday, August 3rd. The offshore drilling services provider reported $0.17 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.18. Transocean had a net margin of 21.91% and a return on equity of 8.46%. The firm had revenue of $943 million for the quarter. During the same quarter last year, the firm posted $1.11 EPS. The business’s quarterly revenue was down 49.9% on a year-over-year basis. Analysts predict that Transocean will post $0.94 EPS for the current year.

Transocean Company Profile

Transocean Ltd. is an international provider of offshore contract drilling services for oil and gas wells. The Company’s primary business is to contract its drilling rigs, related equipment and work crews primarily on a day rate basis to drill oil and gas wells. The Company operates through the contract drilling services segment.

5 Day Chart for NYSE:RIG

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