Transocean Ltd. (NYSE:RIG) has been assigned a $11.00 price objective by stock analysts at Royal Bank Of Canada in a note issued to investors on Thursday. The brokerage currently has a “hold” rating on the offshore drilling services provider’s stock. Royal Bank Of Canada’s target price would suggest a potential upside of 4.36% from the stock’s current price.

Several other brokerages also recently commented on RIG. Nordea Equity Research restated a “buy” rating and issued a $14.00 target price on shares of Transocean in a research note on Saturday, September 30th. 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 research note on Tuesday. Jefferies Group LLC restated a “hold” rating and issued a $9.00 target price on shares of Transocean in a research note on Friday, September 22nd. UBS AG upgraded shares of Transocean from a “neutral” rating to a “buy” rating and boosted their target price for the company from $9.00 to $15.00 in a research note on Monday, September 25th. Finally, BidaskClub upgraded shares of Transocean from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Ten research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $12.41.

Transocean (NYSE:RIG) traded up 2.43% during mid-day trading on Thursday, hitting $10.54. 13,428,721 shares of the company were exchanged. The stock’s 50 day moving average is $8.97 and its 200-day moving average is $9.64. The company’s market cap is $4.12 billion. Transocean has a 12-month low of $7.20 and a 12-month high of $16.66. Transocean also saw some unusual options trading activity on Monday. Stock investors bought 16,695 call options on the stock. This represents an increase of approximately 121% compared to the typical daily volume of 7,543 call options.

ILLEGAL ACTIVITY WARNING: This news story was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this news story on another domain, it was copied illegally and reposted in violation of U.S. & international copyright & trademark legislation. The legal version of this news story can be read at https://www.thecerbatgem.com/2017/10/05/royal-bank-of-canada-reiterates-11-00-price-target-for-transocean-ltd-rig.html.

In other Transocean news, CAO Howard E. Davis acquired 40,000 shares of Transocean stock in a transaction that occurred on Thursday, August 17th. The shares were 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 of the company’s stock, valued at approximately $159,524.76. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.33% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Prudential Financial Inc. boosted its stake in shares of Transocean by 53.1% during the second quarter. Prudential Financial Inc. now owns 2,290,673 shares of the offshore drilling services provider’s stock valued at $18,853,000 after purchasing an additional 794,927 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Transocean by 6.5% during 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 acquiring an additional 38,355 shares during the last quarter. Thompson Siegel & Walmsley LLC raised its position in shares of Transocean by 129.6% during the second quarter. Thompson Siegel & Walmsley LLC now owns 6,299,461 shares of the offshore drilling services provider’s stock worth $51,844,000 after acquiring an additional 3,556,281 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Transocean by 21.6% during 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 acquiring an additional 85,486 shares during the last quarter. Finally, OZ Management LP bought a new position in shares of Transocean during the second quarter worth about $1,053,000. 67.81% of the stock is currently owned by hedge funds and other institutional investors.

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)

Receive News & Stock Ratings for Transocean Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Transocean Ltd. and related stocks with our FREE daily email newsletter.