Transocean (NYSE:RIG) Shares Gap Up to $6.53

Transocean Ltd. (NYSE:RIG - Get Free Report) shares gapped up prior to trading on Monday . The stock had previously closed at $6.53, but opened at $6.77. Transocean shares last traded at $6.58, with a volume of 3,539,891 shares trading hands.

Analysts Set New Price Targets

RIG has been the topic of a number of recent research reports. Barclays dropped their price target on shares of Transocean from $7.00 to $6.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 22nd. Susquehanna upgraded shares of Transocean from a "neutral" rating to a "positive" rating and upped their price target for the company from $5.50 to $9.00 in a research note on Monday. Morgan Stanley dropped their price target on shares of Transocean from $8.00 to $7.00 and set an "equal weight" rating on the stock in a research note on Monday, February 26th. StockNews.com upgraded shares of Transocean to a "sell" rating in a research note on Tuesday, February 20th. Finally, Citigroup dropped their price target on shares of Transocean from $9.00 to $7.00 and set a "buy" rating on the stock in a research note on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $8.50.

Transocean Stock Up 0.3 %

The stock's fifty day moving average is $5.48 and its two-hundred day moving average is $6.20. The company has a current ratio of 1.52, a quick ratio of 1.22 and a debt-to-equity ratio of 0.68. The firm has a market cap of $5.37 billion, a P/E ratio of -5.14 and a beta of 2.77.

Transocean (NYSE:RIG - Get Free Report) last issued its quarterly earnings results on Monday, February 19th. The offshore drilling services provider reported ($0.09) EPS for the quarter, topping analysts' consensus estimates of ($0.21) by $0.12. The firm had revenue of $741.00 million for the quarter, compared to analyst estimates of $779.17 million. Transocean had a negative net margin of 33.69% and a negative return on equity of 7.13%. During the same quarter in the prior year, the firm earned ($0.49) EPS. As a group, research analysts anticipate that Transocean Ltd. will post 0.09 earnings per share for the current year.

Institutional Investors Weigh In On Transocean

A number of institutional investors have recently made changes to their positions in RIG. Bank of New York Mellon Corp boosted its stake in shares of Transocean by 1.1% in the 1st quarter. Bank of New York Mellon Corp now owns 754,540 shares of the offshore drilling services provider's stock valued at $3,449,000 after purchasing an additional 7,953 shares in the last quarter. Cetera Advisor Networks LLC boosted its position in Transocean by 53.7% during the 1st quarter. Cetera Advisor Networks LLC now owns 39,687 shares of the offshore drilling services provider's stock valued at $181,000 after buying an additional 13,867 shares during the period. BlackRock Inc. boosted its position in Transocean by 15.4% during the 1st quarter. BlackRock Inc. now owns 14,750,703 shares of the offshore drilling services provider's stock valued at $67,413,000 after buying an additional 1,972,278 shares during the period. Great West Life Assurance Co. Can lifted its position in shares of Transocean by 50.3% in the 1st quarter. Great West Life Assurance Co. Can now owns 94,062 shares of the offshore drilling services provider's stock worth $457,000 after purchasing an additional 31,461 shares during the period. Finally, Cibc World Market Inc. purchased a new stake in shares of Transocean in the 1st quarter worth about $86,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

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.