Transocean (NYSE:RIG) Announces Quarterly Earnings Results

Transocean (NYSE:RIG - Get Free Report) posted its quarterly earnings data on Monday. The offshore drilling services provider reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.02, Zacks reports. Transocean had a negative net margin of 14.53% and a negative return on equity of 0.52%.

Transocean Price Performance

Shares of Transocean stock traded down $0.05 during trading on Monday, reaching $2.28. The company's stock had a trading volume of 30,047,429 shares, compared to its average volume of 24,516,385. Transocean has a one year low of $1.97 and a one year high of $6.38. The stock has a 50-day moving average price of $2.79 and a two-hundred day moving average price of $3.59. The company has a current ratio of 1.47, a quick ratio of 1.34 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $2.01 billion, a P/E ratio of -3.12, a price-to-earnings-growth ratio of 0.86 and a beta of 2.29.

Insider Buying and Selling at Transocean

In other news, EVP Roderick James Mackenzie sold 22,000 shares of Transocean stock in a transaction on Friday, April 11th. The stock was sold at an average price of $2.23, for a total value of $49,060.00. Following the completion of the sale, the executive vice president now directly owns 362,841 shares of the company's stock, valued at approximately $809,135.43. This trade represents a 5.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 13.16% of the company's stock.

Analyst Upgrades and Downgrades

RIG has been the topic of several research reports. SEB Equity Research set a $2.80 price target on Transocean in a research note on Wednesday, March 5th. Susquehanna cut their target price on Transocean from $5.00 to $4.00 and set a "positive" rating for the company in a research note on Monday, April 14th. TD Cowen decreased their price target on shares of Transocean from $6.50 to $5.50 and set a "hold" rating on the stock in a research note on Wednesday, January 8th. Barclays decreased their target price 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. Finally, Evercore ISI cut shares of Transocean from an "outperform" rating to an "in-line" rating and cut their price target for the stock from $6.00 to $5.00 in a research note on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $4.59.

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.

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