Transocean Ltd. (RIG) Receives Average Recommendation of “Hold” from Brokerages
Shares of Transocean Ltd. (NYSE:RIG) have been given a consensus rating of “Hold” by the thirty-two research firms that are currently covering the company. Nine research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $10.74.
A number of brokerages recently issued reports on RIG. BMO Capital Markets restated a “sell” rating and issued a $7.50 target price on shares of Transocean in a research note on Tuesday, November 8th. Citigroup Inc. restated a “neutral” rating on shares of Transocean in a research note on Friday, November 4th. Jefferies Group reaffirmed a “hold” rating and set a $11.00 price target (up from $8.50) on shares of Transocean in a research report on Friday, November 4th. Canaccord Genuity raised Transocean from a “hold” rating to a “buy” rating in a research report on Thursday, November 3rd. Finally, Morgan Stanley raised Transocean from an “underweight” rating to an “equal weight” rating and cut their price target for the stock from $12.00 to $10.00 in a research report on Wednesday, October 26th.
Transocean (NYSE:RIG) traded up 1.9358% during midday trading on Wednesday, hitting $11.7532. The company had a trading volume of 5,273,621 shares. The company has a 50 day moving average price of $10.24 and a 200 day moving average price of $10.45. The firm has a market capitalization of $4.30 billion, a P/E ratio of 3.7158 and a beta of 1.87. Transocean has a 1-year low of $7.67 and a 1-year high of $14.65.
Several institutional investors have recently bought and sold shares of RIG. BNP Paribas Arbitrage SA increased its position in shares of Transocean by 35.1% in the second quarter. BNP Paribas Arbitrage SA now owns 362,802 shares of the offshore drilling services provider’s stock worth $4,314,000 after buying an additional 94,190 shares during the last quarter. 10 15 Associates Inc. purchased a new position in shares of Transocean during the first quarter worth approximately $289,000. Squarepoint Ops LLC increased its position in shares of Transocean by 119.1% in the first quarter. Squarepoint Ops LLC now owns 216,317 shares of the offshore drilling services provider’s stock worth $1,977,000 after buying an additional 117,585 shares during the last quarter. Babson Capital Management LLC increased its position in shares of Transocean by 53.5% in the first quarter. Babson Capital Management LLC now owns 182,000 shares of the offshore drilling services provider’s stock worth $1,663,000 after buying an additional 63,400 shares during the last quarter. Finally, Panagora Asset Management Inc. increased its position in shares of Transocean by 27.6% in the first quarter. Panagora Asset Management Inc. now owns 896,079 shares of the offshore drilling services provider’s stock worth $8,190,000 after buying an additional 193,796 shares during the last quarter. Institutional investors and hedge funds own 73.87% of the company’s stock.
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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.
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