Analysts Set Transocean Ltd. (NYSE:RIG) Target Price at $4.26

Key Points

• Transocean Ltd. (NYSE:RIG) has received a consensus recommendation of "Hold" from nine analysts, with six analysts rating it as a hold and three as a buy.
• The company’s average twelve-month price target is $4.26, reflecting bullish expectations among some analysts despite recent performance.
• Institutional investors continue to buy into Transocean, with Osaic Holdings Inc. increasing its stake by 96.6% in the second quarter.

Shares of Transocean Ltd. (NYSE:RIG - Get Free Report) have been assigned an average rating of "Hold" from the nine brokerages that are presently covering the firm, Marketbeat reports. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $4.2556.

Several brokerages have recently issued reports on RIG. Wall Street Zen upgraded Transocean from a "sell" rating to a "hold" rating in a research report on Sunday, August 10th. Barclays boosted their price objective on Transocean from $3.50 to $4.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 13th.

Transocean Stock Performance

Shares of NYSE RIG traded down $0.14 during midday trading on Monday, hitting $3.32. 43,976,785 shares of the company's stock were exchanged, compared to its average volume of 23,892,552. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.26 and a quick ratio of 0.99. The stock's 50 day moving average price is $3.01 and its 200-day moving average price is $2.80. The firm has a market cap of $3.13 billion, a P/E ratio of -1.78, a PEG ratio of 6.66 and a beta of 2.79. Transocean has a twelve month low of $1.97 and a twelve month high of $4.74.

Institutional Investors Weigh In On Transocean

Institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its position in Transocean by 154.8% in the first quarter. Parallel Advisors LLC now owns 8,810 shares of the offshore drilling services provider's stock worth $28,000 after purchasing an additional 5,353 shares during the period. Townsend & Associates Inc acquired a new stake in Transocean in the first quarter worth approximately $32,000. Costello Asset Management INC acquired a new stake in Transocean in the first quarter worth approximately $32,000. Josh Arnold Investment Consultant LLC acquired a new stake in Transocean in the second quarter worth approximately $26,000. Finally, Blueshift Asset Management LLC acquired a new stake in Transocean in the second quarter worth approximately $27,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

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.