Transocean (NYSE:RIG) Price Target Lowered to $4.00 at Susquehanna

Transocean (NYSE:RIG - Get Free Report) had its target price dropped by research analysts at Susquehanna from $5.00 to $4.00 in a report released on Monday,Benzinga reports. The firm currently has a "positive" rating on the offshore drilling services provider's stock. Susquehanna's price target points to a potential upside of 75.82% from the stock's previous close.

A number of other brokerages have also weighed in on RIG. Citigroup cut their price target on shares of Transocean from $4.50 to $3.50 and set a "neutral" rating on the stock in a research note on Wednesday, March 19th. Morgan Stanley cut their price target on Transocean from $5.00 to $4.00 and set an "equal weight" rating on the stock in a report on Thursday, March 27th. SEB Equity Research set a $2.80 target price on Transocean in a research report on Wednesday, March 5th. TD Cowen decreased their price target on shares of Transocean from $6.50 to $5.50 and set a "hold" rating for the company in a research note on Wednesday, January 8th. Finally, Barclays reduced their target price on shares of Transocean from $4.00 to $3.50 and set an "overweight" rating for the company in a report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Transocean currently has a consensus rating of "Hold" and an average price target of $4.59.

Transocean Price Performance

Shares of RIG traded up $0.12 during mid-day trading on Monday, hitting $2.28. 44,828,532 shares of the company traded hands, compared to its average volume of 24,108,666. The company has a current ratio of 1.47, a quick ratio of 1.34 and a debt-to-equity ratio of 0.60. The business has a 50-day moving average of $2.92 and a 200 day moving average of $3.68. Transocean has a one year low of $1.97 and a one year high of $6.38. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of -3.12, a PEG ratio of 0.86 and a beta of 2.29.

Transocean (NYSE:RIG - Get Free Report) last posted its quarterly earnings results on Monday, February 17th. The offshore drilling services provider reported ($0.09) earnings per share 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 the consensus estimate of $962.28 million. Transocean had a negative return on equity of 0.52% and a negative net margin of 14.53%. As a group, equities analysts expect that Transocean will post 0.14 earnings per share for the current fiscal year.

Insider Activity at Transocean

In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of the firm's stock in a transaction on Friday, April 11th. The stock was sold at an average price of $2.23, for a total transaction of $49,060.00. Following the transaction, the executive vice president now owns 362,841 shares in the company, valued at $809,135.43. This trade represents a 5.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 13.16% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Transocean

Several institutional investors and hedge funds have recently bought and sold shares of RIG. Twin Tree Management LP acquired a new stake in shares of Transocean during the 4th quarter worth approximately $27,000. Parallel Advisors LLC boosted its holdings in shares of Transocean by 154.8% in the 1st quarter. Parallel Advisors LLC now owns 8,810 shares of the offshore drilling services provider's stock valued at $28,000 after purchasing an additional 5,353 shares in the last quarter. Optiver Holding B.V. raised its holdings in shares of Transocean by 53.6% during the 4th quarter. Optiver Holding B.V. now owns 8,400 shares of the offshore drilling services provider's stock worth $32,000 after buying an additional 2,933 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Transocean by 96.2% during the 4th quarter. Blue Trust Inc. now owns 9,841 shares of the offshore drilling services provider's stock worth $37,000 after buying an additional 4,826 shares during the last quarter. Finally, Adero Partners LLC bought a new position in Transocean in the fourth quarter valued at about $38,000. Institutional investors own 67.73% of the company's stock.

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.