Transocean (NYSE:RIG) Rating Increased to Hold at Wall Street Zen

Transocean (NYSE:RIG - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Friday.

A number of other analysts have also commented on the company. BTIG Research set a $5.00 price target on Transocean and gave the stock a "buy" rating in a report on Monday, May 5th. Morgan Stanley dropped their price target on Transocean from $4.00 to $3.50 and set an "equal weight" rating on the stock in a report on Friday, May 16th. Barclays dropped their price target on Transocean from $4.00 to $3.50 and set an "overweight" rating on the stock in a report on Monday, April 7th. Finally, Susquehanna dropped their price target on Transocean from $5.00 to $4.00 and set a "positive" rating on the stock in a report on Monday, April 14th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $4.58.

Transocean Trading Up 6.6%

Transocean stock traded up $0.18 during trading hours on Friday, hitting $2.82. The stock had a trading volume of 17,537,324 shares, compared to its average volume of 29,625,392. The company has a quick ratio of 1.06, a current ratio of 1.33 and a debt-to-equity ratio of 0.58. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of -2.96, a P/E/G ratio of 5.62 and a beta of 2.50. Transocean has a one year low of $1.97 and a one year high of $5.98. The business's 50 day simple moving average is $2.75 and its 200-day simple moving average is $3.00.

Transocean (NYSE:RIG - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The offshore drilling services provider reported ($0.10) EPS for the quarter, beating analysts' consensus estimates of ($0.12) by $0.02. The firm had revenue of $906.00 million during the quarter, compared to analysts' expectations of $884.92 million. Transocean had a negative return on equity of 0.94% and a negative net margin of 18.79%. The company's revenue for the quarter was up 18.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.03) earnings per share. On average, equities analysts predict that Transocean will post 0.14 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Roderick James Mackenzie sold 22,000 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $2.78, for a total transaction of $61,160.00. Following the transaction, the executive vice president directly owned 340,841 shares in the company, valued at $947,537.98. This trade represents a 6.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 12.54% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Transocean

Hedge funds have recently made changes to their positions in the company. Optiver Holding B.V. raised its stake in shares of 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 worth $32,000 after purchasing an additional 2,933 shares during the last quarter. Parallel Advisors LLC grew its holdings in Transocean by 154.8% during the first quarter. Parallel Advisors LLC now owns 8,810 shares of the offshore drilling services provider's stock valued at $28,000 after purchasing an additional 5,353 shares during the period. Townsend & Associates Inc bought a new stake in Transocean during the first quarter valued at about $32,000. Costello Asset Management INC bought a new stake in Transocean during the first quarter valued at about $32,000. Finally, Guardian Wealth Advisors LLC NC bought a new position in shares of Transocean in the fourth quarter worth about $40,000. 67.73% of the stock is currently owned by institutional investors.

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.