Transocean Ltd. (NYSE:RIG) Receives $4.26 Consensus Target Price from Analysts

Transocean Ltd. (NYSE:RIG) has been given a consensus rating of “Hold” by the ten research firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $4.3111.

Several equities analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Transocean from a “sell” rating to a “hold” rating in a research note on Sunday, August 10th. Barclays lifted their price objective on shares of Transocean from $4.00 to $4.50 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Transocean in a report on Wednesday, October 8th.

Transocean Stock Performance

Shares of RIG opened at $3.91 on Tuesday. Transocean has a 1 year low of $1.97 and a 1 year high of $4.68. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.26 and a quick ratio of 0.99. The stock’s fifty day moving average price is $3.40 and its two-hundred day moving average price is $2.97. The firm has a market cap of $4.30 billion, a PE ratio of -1.19 and a beta of 2.65.

Transocean (NYSE:RIG) last announced its quarterly earnings data on Wednesday, October 29th. The offshore drilling services provider reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.02. Transocean had a positive return on equity of 0.43% and a negative net margin of 75.71%.The company had revenue of ($1,894.00) million during the quarter, compared to analyst estimates of $1.01 billion. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, equities research analysts forecast that Transocean will post 0.14 EPS for the current year.

Insider Buying and Selling

In related news, CEO Keelan Adamson sold 40,942 shares of the business’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $4.00, for a total transaction of $163,768.00. Following the sale, the chief executive officer directly owned 1,370,152 shares in the company, valued at approximately $5,480,608. The trade was a 2.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director (Cyprus) Ltd Perestroika bought 4,000,000 shares of the business’s stock in a transaction on Friday, September 26th. The stock was bought at an average price of $3.05 per share, with a total value of $12,200,000.00. Following the purchase, the director owned 95,074,894 shares in the company, valued at $289,978,426.70. This trade represents a 4.39% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 12.27% of the stock is owned by company insiders.

Institutional Trading of Transocean

A number of large investors have recently modified their holdings of RIG. Cornerstone Investment Partners LLC purchased a new position in shares of Transocean during the third quarter worth about $177,000. Cibc World Market Inc. lifted its position in Transocean by 23.9% during the third quarter. Cibc World Market Inc. now owns 4,882,994 shares of the offshore drilling services provider’s stock valued at $15,235,000 after purchasing an additional 941,537 shares during the last quarter. Madison Asset Management LLC lifted its position in Transocean by 1.8% during the third quarter. Madison Asset Management LLC now owns 3,030,000 shares of the offshore drilling services provider’s stock valued at $9,454,000 after purchasing an additional 55,000 shares during the last quarter. Stratos Wealth Partners LTD. grew its stake in Transocean by 124.7% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 27,517 shares of the offshore drilling services provider’s stock worth $86,000 after buying an additional 15,269 shares in the last quarter. Finally, Bryce Point Capital LLC bought a new position in shares of Transocean in the 3rd quarter worth $111,000. Institutional investors own 67.73% of the company’s stock.

About Transocean

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.