Transocean Ltd. (NYSE:RIG - Get Free Report) shares rose 7.8% during mid-day trading on Tuesday . The stock traded as high as $2.76 and last traded at $2.75. Approximately 25,229,070 shares changed hands during mid-day trading, a decline of 5% from the average daily volume of 26,665,622 shares. The stock had previously closed at $2.55.
Analyst Upgrades and Downgrades
RIG has been the subject of several research analyst reports. BTIG Research set a $5.00 price objective on Transocean and gave the company a "buy" rating in a research report on Monday, May 5th. Morgan Stanley cut their target price on Transocean from $4.00 to $3.50 and set an "equal weight" rating on the stock in a research note on Friday, May 16th. SEB Equity Research set a $2.80 target price on Transocean in a research note on Wednesday, March 5th. Citigroup cut their target price on Transocean from $4.50 to $3.50 and set a "neutral" rating on the stock in a research note on Wednesday, March 19th. Finally, Susquehanna cut their target price on Transocean from $5.00 to $4.00 and set a "positive" rating on the stock in a research note on Monday, April 14th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $4.58.
View Our Latest Report on RIG
Transocean Trading Up 2.2%
The company has a market cap of $2.43 billion, a P/E ratio of -3.77, a PEG ratio of 0.86 and a beta of 2.54. 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 business has a 50 day moving average price of $2.43 and a 200-day moving average price of $3.23.
Transocean (NYSE:RIG - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The offshore drilling services provider reported ($0.10) earnings per share (EPS) for the quarter, topping 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 company had revenue of $906.00 million for the quarter, compared to analysts' expectations of $884.92 million. During the same quarter in the prior year, the business posted ($0.03) EPS. The business's revenue was up 18.7% compared to the same quarter last year. Analysts forecast that Transocean Ltd. will post 0.14 earnings per share for the current fiscal year.
Insider Transactions at Transocean
In related news, EVP Roderick James Mackenzie sold 22,000 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $2.78, for a total value of $61,160.00. Following the sale, the executive vice president now owns 340,841 shares in the company, valued at approximately $947,537.98. This represents a 6.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 12.27% of the company's stock.
Institutional Investors Weigh In On Transocean
Large investors have recently added to or reduced their stakes in the business. Twin Tree Management LP bought a new stake in Transocean in the 4th quarter valued at $27,000. Optiver Holding B.V. raised its stake in Transocean by 53.6% in the 4th quarter. Optiver Holding B.V. now owns 8,400 shares of the offshore drilling services provider's stock valued at $32,000 after acquiring an additional 2,933 shares during the period. Parallel Advisors LLC raised its stake in Transocean by 154.8% in the 1st quarter. Parallel Advisors LLC now owns 8,810 shares of the offshore drilling services provider's stock valued at $28,000 after acquiring an additional 5,353 shares during the period. Blue Trust Inc. raised its stake in Transocean by 96.2% in the 4th quarter. Blue Trust Inc. now owns 9,841 shares of the offshore drilling services provider's stock valued at $37,000 after acquiring an additional 4,826 shares during the period. Finally, Townsend & Associates Inc bought a new stake in Transocean in the 1st quarter valued at $32,000. Institutional investors own 67.73% of the company's stock.
About Transocean
(
Get Free Report)
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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