Transocean Ltd. (NYSE:RIG) was upgraded by equities research analysts at Capital One Financial Corporation from an “equal weight” rating to an “overweight” rating in a report issued on Thursday. The brokerage currently has a $12.00 price objective on the offshore drilling services provider’s stock. Capital One Financial Corporation’s target price indicates a potential upside of 40.19% from the stock’s previous close.

Other analysts have also issued reports about the stock. R. F. Lafferty cut their target price on shares of Transocean from $21.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, May 15th. B. Riley cut their target price on shares of Transocean from $21.00 to $16.00 and set a “buy” rating for the company in a research note on Tuesday, May 9th. Credit Suisse Group reissued a “buy” rating on shares of Transocean in a research note on Wednesday, July 19th. Zacks Investment Research raised shares of Transocean from a “hold” rating to a “buy” rating and set a $9.50 target price for the company in a research note on Wednesday, August 2nd. Finally, Evercore ISI reissued a “buy” rating and set a $18.00 target price on shares of Transocean in a research note on Thursday, August 10th. Ten equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Transocean presently has an average rating of “Hold” and an average target price of $12.35.

Transocean (NYSE:RIG) opened at 8.56 on Thursday. The stock’s market capitalization is $3.35 billion. Transocean has a 52 week low of $7.20 and a 52 week high of $16.66. The stock’s 50 day moving average is $8.29 and its 200-day moving average is $10.24.

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In other news, CAO Howard E. Davis bought 40,000 shares of the stock in a transaction that occurred on Thursday, August 17th. The shares were acquired at an average cost of $7.32 per share, for a total transaction of $292,800.00. Following the purchase, the chief accounting officer now owns 21,793 shares of the company’s stock, valued at approximately $159,524.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.33% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Transocean by 0.6% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 29,052 shares of the offshore drilling services provider’s stock worth $239,000 after buying an additional 175 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Transocean by 0.5% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 49,298 shares of the offshore drilling services provider’s stock worth $406,000 after buying an additional 226 shares during the last quarter. Thrivent Financial For Lutherans raised its position in Transocean by 2.4% in the second quarter. Thrivent Financial For Lutherans now owns 14,840 shares of the offshore drilling services provider’s stock worth $122,000 after buying an additional 350 shares during the last quarter. Louisiana State Employees Retirement System raised its position in Transocean by 1.7% in the second quarter. Louisiana State Employees Retirement System now owns 24,300 shares of the offshore drilling services provider’s stock worth $200,000 after buying an additional 400 shares during the last quarter. Finally, Stifel Financial Corp raised its position in Transocean by 0.5% in the second quarter. Stifel Financial Corp now owns 81,518 shares of the offshore drilling services provider’s stock worth $664,000 after buying an additional 410 shares during the last quarter. Institutional investors and hedge funds own 67.84% of the company’s stock.

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 on a dayrate basis to drill oil and gas wells. As of February 9, 2017, it owned or had partial ownership interests in and operated 56 mobile offshore drilling units.

Analyst Recommendations for Transocean (NYSE:RIG)

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