Transocean Ltd. (NYSE:RIG) Receives Average Rating of "Hold" from Brokerages

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

Several analysts have weighed in on RIG shares. Citigroup lowered their target price on shares of Transocean from $4.50 to $3.50 and set a "neutral" rating for the company in a research note on Wednesday, March 19th. Morgan Stanley lowered their price target 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. SEB Equity Research set a $2.80 price objective on shares of Transocean in a research report on Wednesday, March 5th. Susquehanna cut their price objective on shares of Transocean from $5.00 to $4.00 and set a "positive" rating on the stock in a research report on Monday, April 14th. Finally, Barclays cut their price objective on shares of Transocean from $4.00 to $3.50 and set an "overweight" rating on the stock in a research report on Monday, April 7th.

Transocean Stock Up 2.2%

RIG stock opened at $2.75 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.47 and a quick ratio of 1.34. Transocean has a 1-year low of $1.97 and a 1-year high of $5.98. The firm has a fifty day moving average price of $2.43 and a two-hundred day moving average price of $3.24. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of -3.77, a PEG ratio of 0.86 and a beta of 2.54.

Transocean (NYSE:RIG - Get Free Report) last released its earnings results on Monday, April 28th. The offshore drilling services provider reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.02. Transocean had a negative net margin of 14.53% and a negative return on equity of 0.52%. The firm had revenue of $906.00 million during the quarter, compared to analyst estimates of $884.92 million. During the same quarter in the previous year, the firm earned ($0.03) earnings per share. The firm's revenue for the quarter was up 18.7% compared to the same quarter last year. Research analysts predict that Transocean will post 0.14 EPS for the current year.

Insider Buying and Selling at Transocean

In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $2.78, for a total transaction of $61,160.00. Following the transaction, the executive vice president now owns 340,841 shares of the company's stock, valued at approximately $947,537.98. This trade represents a 6.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.27% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Transocean

Several hedge funds have recently made changes to their positions in the business. Fruth Investment Management grew its stake in shares of 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 purchasing an additional 4,800 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Transocean by 88.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 12,151,817 shares of the offshore drilling services provider's stock worth $38,521,000 after purchasing an additional 5,719,637 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Transocean by 4.6% in the 1st 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 purchasing an additional 18,957 shares during the last quarter. Integrated Wealth Concepts LLC grew its stake in shares of Transocean by 12.1% in the 1st quarter. Integrated Wealth Concepts LLC now owns 69,637 shares of the offshore drilling services provider's stock worth $221,000 after purchasing an additional 7,520 shares during the last quarter. Finally, Ion Asset Management Ltd. grew its stake in shares of Transocean by 7.5% in the 1st quarter. Ion Asset Management Ltd. now owns 4,300,000 shares of the offshore drilling services provider's stock worth $13,631,000 after purchasing an additional 300,000 shares during the last quarter. Institutional investors and hedge funds 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.

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