Shares of Transocean Ltd. (NYSE:RIG - Get Free Report) have been given a consensus rating of "Hold" by the ten ratings firms that are presently covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $4.58.
Several equities research analysts recently weighed in on the company. Barclays reduced their target price on Transocean from $4.00 to $3.50 and set an "overweight" rating for the company in a report on Monday, April 7th. BTIG Research set a $5.00 target price on Transocean and gave the stock a "buy" rating in a report on Monday, May 5th. Citigroup reduced their target price on Transocean from $4.50 to $3.50 and set a "neutral" rating for the company in a report on Wednesday, March 19th. Morgan Stanley reduced their target price on Transocean from $4.00 to $3.50 and set an "equal weight" rating for the company in a report on Friday. Finally, SEB Equity Research set a $2.80 target price on Transocean in a report on Wednesday, March 5th.
Read Our Latest Report on RIG
Insider Activity
In other news, EVP Roderick James Mackenzie sold 22,000 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $2.78, for a total transaction of $61,160.00. Following the sale, the executive vice president now directly owns 340,841 shares in the company, valued at approximately $947,537.98. The trade was a 6.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 12.27% of the stock is currently owned by company insiders.
Institutional Trading of Transocean
A number of institutional investors and hedge funds have recently modified their holdings of RIG. Barclays PLC grew its position in Transocean by 60.1% in the third quarter. Barclays PLC now owns 1,623,924 shares of the offshore drilling services provider's stock valued at $6,902,000 after acquiring an additional 609,681 shares during the period. Harbor Capital Advisors Inc. grew its position in Transocean by 28.0% in the fourth quarter. Harbor Capital Advisors Inc. now owns 42,803 shares of the offshore drilling services provider's stock valued at $161,000 after acquiring an additional 9,361 shares during the period. Pallas Capital Advisors LLC grew its position in Transocean by 25.6% in the fourth quarter. Pallas Capital Advisors LLC now owns 15,332 shares of the offshore drilling services provider's stock valued at $57,000 after acquiring an additional 3,127 shares during the period. FNY Investment Advisers LLC bought a new stake in Transocean in the fourth quarter valued at $150,000. Finally, 180 Wealth Advisors LLC grew its position in Transocean by 32.6% in the fourth quarter. 180 Wealth Advisors LLC now owns 116,736 shares of the offshore drilling services provider's stock valued at $438,000 after acquiring an additional 28,715 shares during the period. 67.73% of the stock is currently owned by institutional investors.
Transocean Stock Down 1.7%
Shares of Transocean stock traded down $0.05 during trading on Tuesday, hitting $2.62. 35,194,978 shares of the stock traded hands, compared to its average volume of 25,925,294. The stock has a market cap of $2.31 billion, a P/E ratio of -3.58, a PEG ratio of 0.86 and a beta of 2.52. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.34 and a current ratio of 1.47. Transocean has a twelve month low of $1.97 and a twelve month high of $6.38. The company has a fifty day moving average price of $2.61 and a two-hundred day moving average price of $3.41.
Transocean (NYSE:RIG - Get Free Report) last posted its earnings results on Monday, April 28th. The offshore drilling services provider reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.02. Transocean had a negative return on equity of 0.52% and a negative net margin of 14.53%. The firm 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 company earned ($0.03) EPS. The company's revenue for the quarter was up 18.7% on a year-over-year basis. Equities research analysts predict that Transocean will post 0.14 EPS for the current fiscal year.
Transocean Company Profile
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Get Free ReportTransocean 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.
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