Transocean (NYSE:RIG) Trading Down 8.4%

Transocean Ltd. (NYSE:RIG - Get Free Report) traded down 8.4% during mid-day trading on Tuesday . The stock traded as low as $5.26 and last traded at $5.33. 12,261,868 shares were traded during mid-day trading, a decline of 31% from the average session volume of 17,690,680 shares. The stock had previously closed at $5.82.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Barclays lowered their target price on Transocean from $7.00 to $6.00 and set an "equal weight" rating for the company in a research note on Thursday, February 22nd. Bank of America upped their target price on shares of Transocean from $5.50 to $6.00 and gave the stock an "underperform" rating in a research note on Monday, April 15th. Benchmark reiterated a "buy" rating and issued a $8.00 price target on shares of Transocean in a research note on Tuesday. Citigroup dropped their price objective on shares of Transocean from $9.00 to $7.00 and set a "buy" rating on the stock in a research report on Wednesday, February 21st. Finally, StockNews.com raised shares of Transocean to a "sell" rating in a research report on Tuesday, February 20th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $7.78.

Transocean Stock Performance

The stock has a 50 day moving average of $5.73 and a two-hundred day moving average of $5.98. The stock has a market capitalization of $4.27 billion, a PE ratio of -4.11 and a beta of 2.77. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.22.

Transocean (NYSE:RIG - Get Free Report) last posted its quarterly earnings results on Monday, April 29th. The offshore drilling services provider reported ($0.03) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.13) by $0.10. Transocean had a negative net margin of 33.69% and a negative return on equity of 7.13%. The company had revenue of $767.00 million during the quarter, compared to the consensus estimate of $781.86 million. During the same period last year, the firm earned ($0.38) EPS. The company's revenue for the quarter was up 18.2% on a year-over-year basis. Research analysts expect that Transocean Ltd. will post 0.05 EPS for the current fiscal year.

Institutional Investors Weigh In On Transocean

A number of hedge funds and other institutional investors have recently made changes to their positions in RIG. Murphy Pohlad Asset Management LLC boosted its holdings in Transocean by 1.7% in the first quarter. Murphy Pohlad Asset Management LLC now owns 96,150 shares of the offshore drilling services provider's stock valued at $604,000 after acquiring an additional 1,600 shares during the last quarter. Traynor Capital Management Inc. lifted its stake in shares of Transocean by 5.2% in the 1st quarter. Traynor Capital Management Inc. now owns 33,257 shares of the offshore drilling services provider's stock valued at $209,000 after purchasing an additional 1,650 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in shares of Transocean by 16.2% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 14,371 shares of the offshore drilling services provider's stock worth $118,000 after purchasing an additional 2,000 shares during the period. 180 Wealth Advisors LLC raised its holdings in Transocean by 7.4% in the fourth quarter. 180 Wealth Advisors LLC now owns 31,496 shares of the offshore drilling services provider's stock valued at $197,000 after buying an additional 2,170 shares during the period. Finally, Valeo Financial Advisors LLC raised its holdings in Transocean by 12.9% in the third quarter. Valeo Financial Advisors LLC now owns 23,600 shares of the offshore drilling services provider's stock valued at $194,000 after buying an additional 2,700 shares during the period. 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.