Analysts Set Transocean Ltd. (NYSE:RIG) Target Price at $4.58

Transocean Ltd. (NYSE:RIG - Get Free Report) has been assigned a consensus recommendation of "Hold" from the ten research firms that are currently covering the company, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $4.58.

A number of research firms have commented on RIG. Susquehanna cut their target price on shares of Transocean from $5.00 to $4.00 and set a "positive" rating for the company in a research report on Monday, April 14th. Citigroup cut their target price on shares of Transocean from $4.50 to $3.50 and set a "neutral" rating for the company in a research report on Wednesday, March 19th. BTIG Research set a $5.00 target price on shares of Transocean and gave the stock a "buy" rating in a research report on Monday, May 5th. Morgan Stanley cut their target price on shares of Transocean from $4.00 to $3.50 and set an "equal weight" rating for the company in a research report on Friday, May 16th. Finally, Barclays cut their target price on shares of Transocean from $4.00 to $3.50 and set an "overweight" rating for the company in a research report on Monday, April 7th.

Insiders Place Their Bets

In related news, EVP Roderick James Mackenzie sold 22,000 shares of the company's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $2.78, for a total value of $61,160.00. Following the completion of the transaction, the executive vice president owned 340,841 shares of the company's stock, valued at approximately $947,537.98. This represents a 6.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 12.27% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Fruth Investment Management boosted its holdings in Transocean by 5.6% in the 1st quarter. Fruth Investment Management now owns 91,065 shares of the offshore drilling services provider's stock worth $288,000 after buying an additional 4,800 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Transocean by 88.9% during the first quarter. Goldman Sachs Group Inc. now owns 12,151,817 shares of the offshore drilling services provider's stock valued at $38,521,000 after purchasing an additional 5,719,637 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Transocean by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 434,031 shares of the offshore drilling services provider's stock worth $1,376,000 after buying an additional 18,957 shares in the last quarter. Integrated Wealth Concepts LLC boosted its stake in Transocean by 12.1% during the first quarter. Integrated Wealth Concepts LLC now owns 69,637 shares of the offshore drilling services provider's stock valued at $221,000 after buying an additional 7,520 shares during the last quarter. Finally, Ion Asset Management Ltd. boosted its stake in Transocean by 7.5% during the first quarter. Ion Asset Management Ltd. now owns 4,300,000 shares of the offshore drilling services provider's stock valued at $13,631,000 after buying an additional 300,000 shares during the last quarter. Institutional investors own 67.73% of the company's stock.

Transocean Stock Down 1.1%

Shares of RIG stock traded down $0.03 during trading hours on Wednesday, hitting $2.77. 15,821,360 shares of the company's stock traded hands, compared to its average volume of 28,849,465. The stock's fifty day simple moving average is $2.68 and its two-hundred day simple moving average is $3.06. Transocean has a 12-month low of $1.97 and a 12-month high of $5.98. The stock has a market cap of $2.45 billion, a price-to-earnings ratio of -2.92, a PEG ratio of 1.83 and a beta of 2.50. The company has a quick ratio of 1.06, a current ratio of 1.33 and a debt-to-equity ratio of 0.58.

Transocean (NYSE:RIG - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The offshore drilling services provider reported ($0.10) earnings per share for the quarter, topping analysts' consensus estimates of ($0.12) by $0.02. Transocean had a negative net margin of 18.79% and a negative return on equity of 0.94%. The company had revenue of $906.00 million during the quarter, compared to analyst estimates of $884.92 million. During the same period in the previous year, the business earned ($0.03) EPS. The firm's revenue for the quarter was up 18.7% on a year-over-year basis. On average, analysts expect that Transocean will post 0.14 EPS for the current 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.