Brokerages Set Transocean Ltd. (NYSE:RIG) Target Price at $4.63

Transocean Ltd. (NYSE:RIG) has earned a consensus rating of “Hold” from the ten analysts that are currently covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $4.58.

RIG has been the topic of a number of research reports. Susquehanna cut their price objective on Transocean from $5.00 to $4.00 and set a “positive” rating on the stock in a report on Monday, April 14th. SEB Equity Research set a $2.80 price objective on Transocean in a report on Wednesday, March 5th. Morgan Stanley cut their price objective on Transocean from $4.00 to $3.50 and set an “equal weight” rating on the stock in a report on Friday. BTIG Research set a $5.00 price objective on Transocean and gave the company a “buy” rating in a report on Monday, May 5th. Finally, Barclays cut their price objective on Transocean from $4.00 to $3.50 and set an “overweight” rating on the stock in a report on Monday, April 7th.

Transocean Stock Performance

NYSE RIG opened at $2.62 on Tuesday. The company has a market cap of $2.31 billion, a P/E ratio of -3.58, a P/E/G ratio of 0.86 and a beta of 2.52. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.34 and a current ratio of 1.47. The business’s 50 day moving average price is $2.61 and its 200-day moving average price is $3.42. Transocean has a fifty-two week low of $1.97 and a fifty-two week high of $6.38.

Transocean (NYSE:RIG) last issued its earnings results on Monday, April 28th. The offshore drilling services provider reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.02. The business had revenue of $906.00 million during the quarter, compared to analysts’ expectations of $884.92 million. Transocean had a negative return on equity of 0.52% and a negative net margin of 14.53%. The business’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.03) EPS. Sell-side analysts predict that Transocean will post 0.14 earnings per share for the current year.

Insider Transactions at Transocean

In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of the stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $2.23, for a total transaction of $49,060.00. Following the transaction, the executive vice president now owns 362,841 shares in the company, valued at approximately $809,135.43. This represents a 5.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 12.27% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in Transocean by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 78,811,863 shares of the offshore drilling services provider’s stock valued at $295,544,000 after acquiring an additional 931,684 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Transocean by 1.6% during the first quarter. Dimensional Fund Advisors LP now owns 40,660,439 shares of the offshore drilling services provider’s stock valued at $128,894,000 after purchasing an additional 651,843 shares in the last quarter. American Century Companies Inc. grew its position in shares of Transocean by 10.9% in the first quarter. American Century Companies Inc. now owns 21,348,095 shares of the offshore drilling services provider’s stock valued at $67,673,000 after purchasing an additional 2,090,658 shares during the period. Van ECK Associates Corp increased its stake in shares of Transocean by 33.9% during the fourth quarter. Van ECK Associates Corp now owns 15,393,873 shares of the offshore drilling services provider’s stock worth $57,727,000 after purchasing an additional 3,895,880 shares in the last quarter. Finally, Keybank National Association OH raised its position in shares of Transocean by 14.2% during the 1st quarter. Keybank National Association OH now owns 13,480,351 shares of the offshore drilling services provider’s stock worth $42,733,000 after purchasing an additional 1,672,958 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Transocean Company Profile

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. The company operates a fleet of mobile offshore drilling units, consisting of ultra-deepwater floaters and harsh environment floaters.