Transocean Ltd. (NYSE:RIG) Receives Consensus Rating of “Hold” from Analysts

Shares of Transocean Ltd. (NYSE:RIG) have been given an average recommendation of “Hold” by the eleven research firms that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $6.8214.

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Transocean in a report on Tuesday, April 21st. Clarkson Capital cut Transocean from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 19th. Morgan Stanley boosted their price target on Transocean from $5.00 to $7.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 15th. Barclays upgraded Transocean from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $6.00 to $8.00 in a research note on Thursday, May 7th. Finally, TD Cowen lifted their target price on Transocean from $5.50 to $6.00 and gave the stock a “hold” rating in a report on Wednesday, May 6th.

Transocean Stock Performance

RIG stock traded up $0.06 during trading on Friday, reaching $5.20. The company had a trading volume of 46,079,046 shares, compared to its average volume of 33,471,348. The company has a market cap of $5.80 billion, a price-to-earnings ratio of -1.74 and a beta of 1.30. Transocean has a twelve month low of $2.53 and a twelve month high of $7.66. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.54. The firm has a 50-day simple moving average of $5.97 and a 200-day simple moving average of $5.76.

Transocean (NYSE:RIG) last issued its quarterly earnings results on Monday, May 4th. The offshore drilling services provider reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.10). The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.02 billion. Transocean had a negative net margin of 66.79% and a positive return on equity of 0.88%. The company’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.10) EPS. As a group, sell-side analysts expect that Transocean will post 0.16 earnings per share for the current year.

Insider Transactions at Transocean

In other Transocean news, Director Chad C. Deaton acquired 35,000 shares of the firm’s stock in a transaction on Thursday, July 2nd. The stock was acquired at an average cost of $4.95 per share, for a total transaction of $173,250.00. Following the purchase, the director owned 237,421 shares in the company, valued at approximately $1,175,233.95. The trade was a 17.29% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 9.70% of the company’s stock.

Institutional Trading of Transocean

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wealthcare Advisory Partners LLC acquired a new position in Transocean during the second quarter valued at $52,000. Assenagon Asset Management S.A. acquired a new stake in Transocean during the 2nd quarter worth about $37,477,000. Hardin Capital Partners LLC purchased a new position in shares of Transocean during the 2nd quarter valued at about $54,000. NewEdge Advisors LLC raised its stake in shares of Transocean by 64.9% during the 1st quarter. NewEdge Advisors LLC now owns 276,083 shares of the offshore drilling services provider’s stock valued at $1,830,000 after buying an additional 108,631 shares during the last quarter. Finally, Kentucky Retirement Systems acquired a new position in shares of Transocean in the 1st quarter valued at about $186,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Transocean Company Profile

Transocean Ltd. is a leading international provider of offshore contract drilling services for the oil and gas industry. The company specializes in the operation of mobile drilling units, including ultra-deepwater drillships, semisubmersible rigs and high-specification jackup rigs. Transocean’s fleet is designed to meet complex drilling requirements, from ultra-deepwater well construction to shelf exploration and development projects.

The company’s core services encompass the full spectrum of offshore drilling operations, including project and engineering management, marine operations, drilling supervision, and maintenance support.