Credit Suisse Group reissued their buy rating on shares of Transocean Ltd. (NYSE:RIG) in a research note published on Wednesday morning.

Several other equities research analysts also recently weighed in on RIG. Jefferies Group LLC decreased their target price on Transocean from $14.50 to $13.00 and set a hold rating for the company in a research report on Tuesday, March 21st. Sanford C. Bernstein downgraded Transocean from an outperform rating to a market perform rating and decreased their target price for the stock from $16.50 to $9.00 in a research report on Thursday, July 6th. Royal Bank Of Canada reaffirmed a sell rating and issued a $13.00 target price on shares of Transocean in a research report on Monday, May 15th. R. F. Lafferty decreased their target price on Transocean from $21.00 to $16.00 and set a buy rating for the company in a research report on Monday, May 15th. Finally, B. Riley decreased their target price on Transocean from $21.00 to $16.00 and set a buy rating for the company in a research report on Tuesday, May 9th. Fifteen research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have assigned a buy rating to the company’s stock. Transocean currently has a consensus rating of Hold and an average price target of $12.86.

Transocean (NYSE RIG) opened at 8.51 on Wednesday. The stock has a 50 day moving average price of $8.45 and a 200 day moving average price of $11.62. Transocean has a 52 week low of $7.67 and a 52 week high of $16.66. The stock has a market cap of $3.33 billion, a PE ratio of 5.12 and a beta of 1.67.

Transocean (NYSE:RIG) last announced its quarterly earnings results on Wednesday, May 3rd. The offshore drilling services provider reported $0.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.09. The company had revenue of $785 million during the quarter, compared to analyst estimates of $737.51 million. Transocean had a return on equity of 2.57% and a net margin of 17.28%. On average, equities analysts predict that Transocean will post ($0.43) earnings per share for the current year.

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In related news, SVP David A. Tonnel sold 9,450 shares of the firm’s stock in a transaction that occurred on Thursday, April 27th. The stock was sold at an average price of $11.28, for a total value of $106,596.00. Following the sale, the senior vice president now directly owns 54,845 shares in the company, valued at approximately $618,651.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.33% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of the stock. Prospera Financial Services Inc boosted its stake in Transocean by 13.2% in the second quarter. Prospera Financial Services Inc now owns 20,952 shares of the offshore drilling services provider’s stock valued at $170,000 after buying an additional 2,450 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake 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 valued at $200,000 after buying an additional 400 shares in the last quarter. Foundation Resource Management Inc. boosted its stake in Transocean by 0.5% in the second quarter. Foundation Resource Management Inc. now owns 229,263 shares of the offshore drilling services provider’s stock valued at $1,887,000 after buying an additional 1,084 shares in the last quarter. LS Investment Advisors LLC boosted its stake in Transocean by 46.5% in the second quarter. LS Investment Advisors LLC now owns 23,656 shares of the offshore drilling services provider’s stock valued at $195,000 after buying an additional 7,505 shares in the last quarter. Finally, Exane Derivatives boosted its stake in Transocean by 12.2% in the second quarter. Exane Derivatives now owns 48,860 shares of the offshore drilling services provider’s stock valued at $402,000 after buying an additional 5,325 shares in the last quarter. Hedge funds and other institutional investors own 67.52% 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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