Wall Street Zen Upgrades Transocean (NYSE:RIG) to "Hold"

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

Other equities analysts also recently issued reports about the company. BTIG Research set a $5.00 price objective on Transocean and gave the stock a "buy" rating in a report on Monday, May 5th. Barclays cut their price target on shares of Transocean from $4.00 to $3.50 and set an "overweight" rating on the stock in a report on Monday, April 7th. Morgan Stanley decreased their price objective 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. Finally, Susquehanna cut their target price on shares of Transocean from $5.00 to $4.00 and set a "positive" rating on the stock in a research note on Monday, April 14th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Transocean has an average rating of "Hold" and a consensus price target of $4.58.

Transocean Trading Up 1.2%

RIG stock traded up $0.03 on Friday, hitting $2.63. 25,223,383 shares of the company were exchanged, compared to its average volume of 29,610,760. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.33 and a quick ratio of 1.06. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of -2.77, a price-to-earnings-growth ratio of 5.56 and a beta of 2.50. Transocean has a twelve month low of $1.97 and a twelve month high of $5.98. The business's fifty day moving average is $2.75 and its two-hundred day moving average is $3.01.

Transocean (NYSE:RIG - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The offshore drilling services provider reported ($0.10) EPS for the quarter, topping analysts' consensus estimates of ($0.12) by $0.02. The business had revenue of $906.00 million during the quarter, compared to the consensus estimate of $884.92 million. Transocean had a negative return on equity of 0.94% and a negative net margin of 18.79%. The business's revenue for the quarter was up 18.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.03) EPS. As a group, research analysts forecast that Transocean will post 0.14 earnings per share for the current year.

Insider Transactions at Transocean

In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $2.78, for a total value of $61,160.00. Following the transaction, the executive vice president owned 340,841 shares in the company, valued at $947,537.98. The trade was a 6.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 12.27% of the stock is owned by company insiders.

Institutional Trading of Transocean

Several large investors have recently modified their holdings of the business. Parallel Advisors LLC boosted its holdings in Transocean by 154.8% in 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 last quarter. Verum Partners LLC purchased a new position in shares of Transocean during the 2nd quarter valued at approximately $28,000. Stockman Wealth Management Inc. purchased a new position in shares of Transocean during the 2nd quarter valued at approximately $28,000. Optiver Holding B.V. grew its position in shares of Transocean by 53.6% during the fourth quarter. Optiver Holding B.V. now owns 8,400 shares of the offshore drilling services provider's stock worth $32,000 after buying an additional 2,933 shares in the last quarter. Finally, Townsend & Associates Inc bought a new stake in shares of Transocean in the first quarter worth $32,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

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.

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