Transocean LTD (NYSE:RIG) has been given a $15.00 price objective by research analysts at R. F. Lafferty in a report released on Saturday. The brokerage presently has a “buy” rating on the offshore drilling services provider’s stock. R. F. Lafferty’s price target indicates a potential upside of 85.19% from the stock’s previous close.

Several other equities research analysts have also issued reports on the company. Royal Bank Of Canada reissued a “sell” rating and set a $13.00 price target on shares of Transocean LTD in a research report on Monday, May 15th. Credit Suisse Group reaffirmed a “buy” rating on shares of Transocean LTD in a research report on Wednesday, July 19th. Sanford C. Bernstein lowered Transocean LTD from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $16.50 to $9.00 in a research report on Thursday, July 6th. Odeon Capital Group LLC initiated coverage on Transocean LTD in a research report on Wednesday, May 17th. They issued a “sell” rating and a $8.00 target price on the stock. Finally, B. Riley dropped their target price on Transocean LTD from $21.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, May 9th. Ten equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have issued a buy rating to the stock. Transocean LTD has an average rating of “Hold” and a consensus target price of $12.37.

Shares of Transocean LTD (NYSE RIG) opened at 8.10 on Friday. Transocean LTD has a 52-week low of $7.20 and a 52-week high of $16.66. The firm’s 50-day moving average is $8.27 and its 200 day moving average is $10.42. The stock’s market cap is $3.17 billion.

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In related news, CAO Howard E. Davis acquired 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The stock was acquired at an average cost of $7.32 per share, with a total value of $292,800.00. Following the completion of the purchase, the chief accounting officer now directly owns 21,793 shares in the company, valued at $159,524.76. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.33% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the company. Principal Financial Group Inc. boosted its stake in shares of Transocean LTD by 6.5% in the first quarter. Principal Financial Group Inc. now owns 626,397 shares of the offshore drilling services provider’s stock worth $7,798,000 after buying an additional 38,355 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Transocean LTD by 21.6% in the first quarter. Wells Fargo & Company MN now owns 481,855 shares of the offshore drilling services provider’s stock worth $6,000,000 after buying an additional 85,486 shares during the period. WFG Advisors LP boosted its stake in shares of Transocean LTD by 40.7% in the first quarter. WFG Advisors LP now owns 8,856 shares of the offshore drilling services provider’s stock worth $110,000 after buying an additional 2,562 shares during the period. Hartford Investment Management Co. boosted its stake in shares of Transocean LTD by 0.6% in the first quarter. Hartford Investment Management Co. now owns 103,575 shares of the offshore drilling services provider’s stock worth $1,290,000 after buying an additional 654 shares during the period. Finally, Cibc World Markets Corp boosted its stake in shares of Transocean LTD by 51.9% in the first quarter. Cibc World Markets Corp now owns 40,648 shares of the offshore drilling services provider’s stock worth $506,000 after buying an additional 13,893 shares during the period. 67.84% of the stock is owned by institutional investors and hedge funds.

About Transocean LTD

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 LTD (NYSE:RIG)

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