Transocean Ltd. (NYSE:RIG - Get Free Report) shares rose 7.8% on Tuesday . The stock traded as high as $2.76 and last traded at $2.75. Approximately 25,229,070 shares were traded 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 Ratings Changes
RIG has been the subject of several recent research reports. Citigroup reduced 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. Barclays reduced their target price on shares of Transocean from $4.00 to $3.50 and set an "overweight" rating for the company in a research note on Monday, April 7th. Morgan Stanley reduced their target price on shares of Transocean from $4.00 to $3.50 and set an "equal weight" rating for the company in a research note on Friday, May 16th. SEB Equity Research set a $2.80 target price on shares of Transocean in a research note on Wednesday, March 5th. Finally, BTIG Research set a $5.00 price objective on shares of Transocean and gave the company a "buy" rating in a research note on Monday, May 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Transocean presently has an average rating of "Hold" and a consensus target price of $4.58.
View Our Latest Stock Analysis on Transocean
Transocean Trading Up 1.7%
The firm has a market capitalization of $2.37 billion, a P/E ratio of -3.68, a price-to-earnings-growth ratio of 0.86 and a beta of 2.52. The company has a quick ratio of 1.34, a current ratio of 1.47 and a debt-to-equity ratio of 0.60. The firm's 50-day simple moving average is $2.45 and its 200-day simple moving average is $3.25.
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, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $884.92 million. During the same period in the prior year, the firm earned ($0.03) EPS. The company's revenue was up 18.7% compared to the same quarter last year. Analysts anticipate that Transocean Ltd. will post 0.14 EPS for the current year.
Insider Activity at Transocean
In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of the company'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 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 this hyperlink. 12.27% of the stock is currently owned by insiders.
Institutional Trading of Transocean
Large investors have recently added to or reduced their stakes in the business. American Century Companies Inc. grew its stake in shares of Transocean by 51.5% during the 4th quarter. American Century Companies Inc. now owns 19,257,437 shares of the offshore drilling services provider's stock valued at $72,215,000 after acquiring an additional 6,542,271 shares during the period. Goldman Sachs Group Inc. raised its holdings in Transocean by 88.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 12,151,817 shares of the offshore drilling services provider's stock valued at $38,521,000 after buying an additional 5,719,637 shares during the period. Renaissance Technologies LLC purchased a new stake in Transocean in the fourth quarter worth $16,608,000. SIR Capital Management L.P. purchased a new stake in Transocean in the fourth quarter worth $14,976,000. Finally, Van ECK Associates Corp grew its position in shares of Transocean by 33.9% during the 4th quarter. Van ECK Associates Corp now owns 15,393,873 shares of the offshore drilling services provider's stock worth $57,727,000 after buying an additional 3,895,880 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.
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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