Goldman Sachs Group, Inc. (The) upgraded shares of Transocean Ltd. (NYSE:RIG) from a sell rating to a neutral rating in a research report report published on Wednesday morning, Marketbeat.com reports. Goldman Sachs Group, Inc. (The) currently has $9.75 price objective on the offshore drilling services provider’s stock, up from their prior price objective of $8.57.

Several other analysts have also commented on RIG. Jefferies Group LLC reiterated a hold rating and issued a $14.00 price target (up from $13.00) on shares of Transocean in a research report on Tuesday, April 11th. Deutsche Bank AG lowered their price target on shares of Transocean from $8.00 to $7.00 and set a hold rating on the stock in a research report on Tuesday, April 18th. BMO Capital Markets restated a sell rating and set a $10.00 target price on shares of Transocean in a research report on Tuesday, April 18th. Credit Suisse Group set a $18.00 target price on shares of Transocean and gave the stock a buy rating in a research report on Thursday, April 20th. Finally, Royal Bank Of Canada restated an underperform rating and set a $15.00 target price on shares of Transocean in a research report on Tuesday, April 25th. Thirteen equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $12.73.

Transocean (NYSE RIG) opened at 8.35 on Wednesday. The stock’s market capitalization is $3.27 billion. Transocean has a 1-year low of $7.67 and a 1-year high of $16.66. The firm has a 50-day moving average of $8.43 and a 200-day moving average of $10.89.

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Several hedge funds and other institutional investors have recently bought and sold shares of RIG. Principal Financial Group Inc. raised its position in Transocean by 6.5% in the first quarter. Principal Financial Group Inc. now owns 626,397 shares of the offshore drilling services provider’s stock valued at $7,798,000 after buying an additional 38,355 shares during the period. Wells Fargo & Company MN raised its position in Transocean by 21.6% in the first quarter. Wells Fargo & Company MN now owns 481,855 shares of the offshore drilling services provider’s stock valued at $6,000,000 after buying an additional 85,486 shares during the period. WFG Advisors LP raised its position in Transocean by 40.7% in the first quarter. WFG Advisors LP now owns 8,856 shares of the offshore drilling services provider’s stock valued at $110,000 after buying an additional 2,562 shares during the period. Hartford Investment Management Co. raised its position in Transocean by 0.6% in the first quarter. Hartford Investment Management Co. now owns 103,575 shares of the offshore drilling services provider’s stock valued at $1,290,000 after buying an additional 654 shares during the period. Finally, Cibc World Markets Corp raised its position in Transocean by 51.9% in the first quarter. Cibc World Markets Corp now owns 40,648 shares of the offshore drilling services provider’s stock valued at $506,000 after buying an additional 13,893 shares during the period. 67.32% of the stock is owned by institutional investors and hedge funds.

About Transocean

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 on a dayrate basis to drill oil and gas wells. As of February 9, 2017, it owned or had partial ownership interests in and operated 56 mobile offshore drilling units.

Analyst Recommendations for Transocean (NYSE:RIG)

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