Transocean LTD (NYSE:RIG) Director Vincent J. Intrieri bought 10,000 shares of the business’s stock in a transaction dated Thursday, August 16th. The stock was purchased at an average price of $10.62 per share, for a total transaction of $106,200.00. Following the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $106,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

NYSE:RIG opened at $10.76 on Friday. The firm has a market capitalization of $5.80 billion, a P/E ratio of -179.33 and a beta of 1.49. Transocean LTD has a twelve month low of $7.20 and a twelve month high of $14.34. The company has a current ratio of 1.49, a quick ratio of 1.35 and a debt-to-equity ratio of 0.63.

Transocean (NYSE:RIG) last released its quarterly earnings results on Monday, July 30th. The offshore drilling services provider reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.13. The business had revenue of $790.00 million for the quarter, compared to analysts’ expectations of $768.68 million. Transocean had a negative net margin of 99.38% and a negative return on equity of 2.00%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. analysts predict that Transocean LTD will post -0.93 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the stock. Bank of Nova Scotia bought a new stake in Transocean in the second quarter valued at $754,000. Verition Fund Management LLC bought a new stake in Transocean in the second quarter valued at $167,000. Castleark Management LLC boosted its holdings in Transocean by 4,101.0% in the second quarter. Castleark Management LLC now owns 487,320 shares of the offshore drilling services provider’s stock valued at $6,550,000 after acquiring an additional 475,720 shares in the last quarter. Centaurus Financial Inc. bought a new stake in shares of Transocean during the 2nd quarter valued at $178,000. Finally, Platinum Investment Management Ltd. boosted its holdings in shares of Transocean by 80.3% during the 2nd quarter. Platinum Investment Management Ltd. now owns 8,714,500 shares of the offshore drilling services provider’s stock valued at $117,123,000 after buying an additional 3,882,400 shares in the last quarter. Institutional investors and hedge funds own 73.92% of the company’s stock.

Several research analysts have recently issued reports on RIG shares. ValuEngine upgraded shares of Transocean from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 2nd. Credit Suisse Group set a $16.00 target price on shares of Transocean and gave the stock a “buy” rating in a report on Friday, July 13th. Susquehanna Bancshares upgraded shares of Transocean from a “neutral” rating to a “positive” rating and raised their target price for the stock from $11.00 to $16.00 in a report on Monday, July 9th. UBS Group upgraded shares of Transocean from a “neutral” rating to a “positive” rating in a report on Monday, July 9th. Finally, Citigroup raised their target price on shares of Transocean from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Monday, April 30th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $12.34.

About Transocean

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. The company primarily offers deepwater and harsh environment drilling services. As of February 20, 2018, it owned or had partial ownership interests in, and operated 47 mobile offshore drilling units that consist of 27 ultra-deepwater floaters, 12 harsh environment floaters, 2 deepwater floaters, 6 midwater floaters, and 2 high-specification jackups.

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