Transocean Ltd. (NYSE:RIG) Given Average Rating of "Hold" by Brokerages

Transocean Ltd. (NYSE:RIG - Get Free Report) has earned an average recommendation of "Hold" from the ten analysts that are presently covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $4.58.

Several equities analysts have recently issued reports on the company. Citigroup decreased their price objective on Transocean from $4.50 to $3.50 and set a "neutral" rating for the company in a research note on Wednesday, March 19th. Susquehanna decreased their price target on shares of Transocean from $5.00 to $4.00 and set a "positive" rating for the company in a research note on Monday, April 14th. BTIG Research set a $5.00 price objective on shares of Transocean and gave the company a "buy" rating in a research report on Monday, May 5th. SEB Equity Research set a $2.80 price objective on shares of Transocean in a report on Wednesday, March 5th. Finally, Barclays decreased their price objective 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.

Insider Activity

In other news, EVP Roderick James Mackenzie sold 22,000 shares of Transocean stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $2.23, for a total transaction of $49,060.00. Following the sale, the executive vice president now owns 362,841 shares in the company, valued at approximately $809,135.43. The trade was a 5.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 12.27% of the company's stock.

Institutional Trading of Transocean

A number of large investors have recently made changes to their positions in RIG. Optiver Holding B.V. lifted its stake in Transocean by 53.6% in the fourth quarter. Optiver Holding B.V. now owns 8,400 shares of the offshore drilling services provider's stock valued at $32,000 after buying an additional 2,933 shares during the last quarter. Van Den Berg Management I Inc. increased its holdings in shares of Transocean by 11.9% in the 4th quarter. Van Den Berg Management I Inc. now owns 28,155 shares of the offshore drilling services provider's stock valued at $106,000 after acquiring an additional 3,000 shares during the period. Nomura Holdings Inc. increased its holdings in shares of Transocean by 11.6% in the 4th quarter. Nomura Holdings Inc. now owns 32,651 shares of the offshore drilling services provider's stock valued at $122,000 after acquiring an additional 3,390 shares during the period. Mercer Global Advisors Inc. ADV raised its position in Transocean by 23.5% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 19,015 shares of the offshore drilling services provider's stock valued at $71,000 after purchasing an additional 3,620 shares during the last quarter. Finally, Avantax Advisory Services Inc. boosted its stake in Transocean by 4.2% during the 4th quarter. Avantax Advisory Services Inc. now owns 107,012 shares of the offshore drilling services provider's stock worth $401,000 after purchasing an additional 4,285 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

Transocean Stock Up 7.8%

Shares of NYSE:RIG traded up $0.23 during trading on Friday, hitting $3.10. The company's stock had a trading volume of 57,209,665 shares, compared to its average volume of 27,466,058. Transocean has a fifty-two week low of $1.97 and a fifty-two week high of $5.98. The business has a 50 day moving average price of $2.44 and a two-hundred day moving average price of $3.21. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.34 and a current ratio of 1.47. The company has a market capitalization of $2.73 billion, a PE ratio of -4.24, a P/E/G 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 (EPS) for the quarter, beating analysts' consensus estimates 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 last year, the business posted ($0.03) earnings per share. Transocean's revenue was up 18.7% compared to the same quarter last year. As a group, research analysts expect that Transocean will post 0.14 EPS for the current fiscal 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.