Transocean Ltd. (NYSE:RIG) Receives $5.23 Average PT from Analysts

Transocean Ltd. (NYSE:RIG) has received a consensus rating of “Hold” from the ten ratings firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $5.03.

Several research firms have weighed in on RIG. Benchmark reaffirmed a “hold” rating on shares of Transocean in a research report on Tuesday, December 3rd. Evercore ISI lowered shares of Transocean from an “outperform” rating to an “in-line” rating and dropped their price target for the stock from $6.00 to $5.00 in a research report on Wednesday, January 15th. Barclays decreased their price objective on shares of Transocean from $4.50 to $4.00 and set an “overweight” rating for the company in a research report on Tuesday, February 25th. TD Cowen dropped their target price on shares of Transocean from $6.50 to $5.50 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. upgraded Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 price target for the company in a report on Friday, December 6th.

Insider Activity at Transocean

In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $3.85, for a total value of $84,700.00. Following the completion of the sale, the executive vice president now owns 313,072 shares of the company’s stock, valued at $1,205,327.20. The trade was a 6.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 13.16% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Transocean

Hedge funds and other institutional investors have recently made changes to their positions in the business. Pilgrim Global Advisors LLC bought a new position in Transocean during the 3rd quarter worth $77,473,000. American Century Companies Inc. increased its position in shares of Transocean by 51.5% in the fourth quarter. American Century Companies Inc. now owns 19,257,437 shares of the offshore drilling services provider’s stock worth $72,215,000 after purchasing an additional 6,542,271 shares during the period. Renaissance Technologies LLC acquired a new position in Transocean in the fourth quarter valued at about $16,608,000. SIR Capital Management L.P. bought a new stake in Transocean during the fourth quarter worth about $14,976,000. Finally, Van ECK Associates Corp grew its stake in 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 buying an additional 3,895,880 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Transocean Stock Performance

Shares of RIG stock opened at $3.20 on Monday. Transocean has a 12 month low of $2.55 and a 12 month high of $6.88. The company’s fifty day simple moving average is $3.40 and its 200-day simple moving average is $3.90. The firm has a market cap of $2.82 billion, a PE ratio of -4.38, a P/E/G ratio of 0.86 and a beta of 2.72. The company has a quick ratio of 1.34, a current ratio of 1.47 and a debt-to-equity ratio of 0.60.

Transocean (NYSE:RIG) last posted its quarterly earnings data on Monday, February 17th. The offshore drilling services provider reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.11). The business had revenue of $952.00 million for the quarter, compared to analyst estimates of $962.28 million. Transocean had a negative return on equity of 0.52% and a negative net margin of 14.53%. Equities research analysts expect that Transocean will post 0.14 EPS for the current fiscal year.

About Transocean

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.