Transocean Ltd. (NYSE:RIG) Receives Average Recommendation of “Hold” from Analysts

Shares of Transocean Ltd. (NYSE:RIG) have earned an average recommendation of “Hold” from the ten brokerages that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $7.70.

Several research analysts have recently issued reports on RIG shares. Morgan Stanley decreased their price target on Transocean from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Monday, February 26th. Evercore ISI reduced their price target on shares of Transocean from $9.00 to $7.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Susquehanna upgraded shares of Transocean from a “neutral” rating to a “positive” rating and raised their price objective for the company from $5.50 to $9.00 in a research note on Monday, April 8th. Citigroup cut their target price on Transocean from $9.00 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, February 21st. Finally, Benchmark reiterated a “buy” rating and set a $8.00 price target on shares of Transocean in a research report on Tuesday, April 30th.

Transocean Stock Up 1.0 %

Shares of NYSE:RIG opened at $5.73 on Friday. The company has a market capitalization of $4.69 billion, a price-to-earnings ratio of -11.01 and a beta of 2.83. The company has a 50 day moving average of $5.81 and a two-hundred day moving average of $5.90. Transocean has a 52-week low of $4.45 and a 52-week high of $8.88. The company has a quick ratio of 1.04, a current ratio of 1.35 and a debt-to-equity ratio of 0.65.

Transocean (NYSE:RIG) last issued its quarterly earnings results on Monday, April 29th. The offshore drilling services provider reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.10. Transocean had a negative return on equity of 4.67% and a negative net margin of 13.27%. The firm had revenue of $767.00 million during the quarter, compared to the consensus estimate of $781.86 million. During the same quarter in the prior year, the business posted ($0.38) earnings per share. Transocean’s revenue for the quarter was up 18.2% on a year-over-year basis. As a group, analysts forecast that Transocean will post 0.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. OLD Point Trust & Financial Services N A bought a new stake in shares of Transocean during the 4th quarter worth approximately $25,000. VisionPoint Advisory Group LLC bought a new stake in shares of Transocean during the 4th quarter worth approximately $28,000. Private Trust Co. NA lifted its stake in Transocean by 1,489.8% in the 4th quarter. Private Trust Co. NA now owns 8,537 shares of the offshore drilling services provider’s stock valued at $54,000 after purchasing an additional 8,000 shares during the last quarter. Csenge Advisory Group bought a new position in Transocean in the 3rd quarter valued at approximately $83,000. Finally, Joseph P. Lucia & Associates LLC bought a new position in Transocean in the 3rd quarter valued at approximately $87,000. 67.73% of the stock is currently 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.