Transocean (NYSE:RIG) Stock Rating Upgraded by Fearnley Fonds

Transocean (NYSE:RIG) was upgraded by stock analysts at Fearnley Fonds from a “hold” rating to a “strong-buy” rating in a research report issued on Friday,Zacks.com reports.

A number of other research firms have also weighed in on RIG. Barclays upgraded shares of Transocean from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $6.00 to $8.00 in a research report on Thursday, May 7th. TD Cowen raised their price objective on shares of Transocean from $5.50 to $6.00 and gave the company a “hold” rating in a research report on Wednesday, May 6th. Morgan Stanley lifted their target price on shares of Transocean from $5.00 to $7.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 15th. Susquehanna cut their price target on Transocean from $8.00 to $7.00 and set a “positive” rating for the company in a research note on Wednesday, July 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Transocean in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $6.82.

Transocean Stock Up 2.0%

RIG stock opened at $5.26 on Friday. Transocean has a twelve month low of $2.76 and a twelve month high of $7.66. The company has a quick ratio of 1.20, a current ratio of 1.59 and a debt-to-equity ratio of 0.56. The stock has a market cap of $5.88 billion, a P/E ratio of -2.80, a PEG ratio of 3.68 and a beta of 1.32. The business’s 50-day moving average price is $5.38 and its 200-day moving average price is $5.90.

Transocean (NYSE:RIG) last released its earnings results on Wednesday, August 5th. The offshore drilling services provider reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.02. Transocean had a negative net margin of 40.24% and a positive return on equity of 2.60%. The company had revenue of $966.00 million during the quarter, compared to analyst estimates of $956.64 million. During the same period in the prior year, the firm posted ($1.06) EPS. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. On average, equities research analysts forecast that Transocean will post 0.13 EPS for the current year.

Insiders Place Their Bets

In related news, Director Chad C. Deaton bought 35,000 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The stock was bought at an average cost of $4.95 per share, with a total value of $173,250.00. Following the completion of the purchase, the director owned 237,421 shares of the company’s stock, valued at approximately $1,175,233.95. The trade was a 17.29% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 9.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its stake in shares of Transocean by 27.0% during the first quarter. EverSource Wealth Advisors LLC now owns 6,536 shares of the offshore drilling services provider’s stock worth $43,000 after acquiring an additional 1,391 shares during the last quarter. Fruth Investment Management boosted its stake in Transocean by 2.8% in the 4th quarter. Fruth Investment Management now owns 90,378 shares of the offshore drilling services provider’s stock worth $373,000 after purchasing an additional 2,500 shares in the last quarter. Annandale Capital LLC boosted its stake in Transocean by 17.7% in the 4th quarter. Annandale Capital LLC now owns 16,600 shares of the offshore drilling services provider’s stock worth $69,000 after purchasing an additional 2,500 shares in the last quarter. Townsend & Associates Inc grew its position in Transocean by 16.0% during the 4th quarter. Townsend & Associates Inc now owns 29,000 shares of the offshore drilling services provider’s stock worth $126,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its stake in Transocean by 20.0% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 24,175 shares of the offshore drilling services provider’s stock valued at $75,000 after purchasing an additional 4,026 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

About Transocean

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.