Transocean Ltd. (RIG) Raised to Buy at Zephirin Group
A number of other equities analysts have also commented on RIG. Jefferies Group reaffirmed a hold rating on shares of Transocean in a research note on Sunday, July 10th. Credit Suisse Group AG reaffirmed a sell rating on shares of Transocean in a research note on Saturday, July 9th. Clarkson Capital reaffirmed a neutral rating and issued a $12.00 price objective on shares of Transocean in a research note on Thursday, August 4th. Vetr reaffirmed a buy rating and issued a $10.74 price objective on shares of Transocean in a research note on Thursday, August 18th. Finally, Royal Bank Of Canada decreased their price objective on shares of Transocean from $14.00 to $11.00 and set a sector perform rating for the company in a research note on Friday, August 12th. Eleven research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have given a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $10.11.
Shares of Transocean (NYSE:RIG) opened at 9.14 on Monday. The company’s 50-day moving average is $10.00 and its 200-day moving average is $10.44. The stock has a market capitalization of $3.34 billion, a PE ratio of 2.67 and a beta of 1.90. Transocean has a 12 month low of $7.67 and a 12 month high of $17.19.
Transocean (NYSE:RIG) last issued its earnings results on Wednesday, August 3rd. The offshore drilling services provider reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.18. The firm earned $943 million during the quarter. Transocean had a net margin of 21.91% and a return on equity of 8.46%. The company’s quarterly revenue was down 49.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.11 earnings per share. Equities research analysts expect that Transocean will post $0.95 earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in RIG. Meiji Yasuda Asset Management Co Ltd. bought a new position in shares of Transocean during the first quarter worth $108,000. Simmons Bank bought a new position in shares of Transocean during the first quarter worth $110,000. Lee Danner & Bass Inc. bought a new position in shares of Transocean during the second quarter worth $119,000. Mariner Wealth Advisors LLC bought a new position in shares of Transocean during the second quarter worth $120,000. Finally, Capstone Investment Advisors LLC bought a new position in shares of Transocean during the second quarter worth $121,000. 71.55% of the stock is owned by institutional investors.
Transocean Company Profile
Transocean Ltd. is an international provider of offshore contract drilling services for oil and gas wells. The Company’s primary business is to contract its drilling rigs, related equipment and work crews primarily on a day rate basis to drill oil and gas wells. The Company operates through the contract drilling services segment.
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