Transocean LTD (NYSE:RIG) has earned an average rating of “Hold” from the sixteen ratings firms that are currently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $8.46.

Several research analysts have recently issued reports on the company. Citigroup lifted their price target on Transocean from $4.90 to $7.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Morgan Stanley decreased their price objective on shares of Transocean from $10.00 to $8.00 and set an “overweight” rating on the stock in a research report on Monday, October 7th. Royal Bank of Canada cut shares of Transocean from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $17.00 to $9.00 in a research note on Wednesday, September 25th. UBS Group set a $10.00 target price on shares of Transocean and gave the company a “buy” rating in a report on Monday, August 26th. Finally, Fearnley Fonds downgraded shares of Transocean from a “buy” rating to a “hold” rating and set a $6.00 target price for the company. in a report on Monday, October 21st.

RIG stock traded up $0.31 during midday trading on Tuesday, hitting $5.63. 22,735,332 shares of the stock were exchanged, compared to its average volume of 14,070,354. The stock’s 50-day moving average price is $4.94 and its 200-day moving average price is $5.34. The stock has a market cap of $3.26 billion, a price-to-earnings ratio of -7.13 and a beta of 1.91. Transocean has a fifty-two week low of $3.76 and a fifty-two week high of $9.79. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.21 and a current ratio of 2.53.

Transocean (NYSE:RIG) last posted its earnings results on Monday, October 28th. The offshore drilling services provider reported ($0.38) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.40) by $0.02. The company had revenue of $784.00 million for the quarter, compared to the consensus estimate of $773.64 million. Transocean had a negative return on equity of 6.26% and a negative net margin of 47.50%. Transocean’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.06 earnings per share. Research analysts anticipate that Transocean will post -1.27 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in the business. Treasurer of the State of North Carolina lifted its position in shares of Transocean by 11.8% in the second quarter. Treasurer of the State of North Carolina now owns 284,798 shares of the offshore drilling services provider’s stock valued at $1,826,000 after acquiring an additional 29,980 shares in the last quarter. Louisiana State Employees Retirement System increased its position in Transocean by 6.5% during the 3rd quarter. Louisiana State Employees Retirement System now owns 138,300 shares of the offshore drilling services provider’s stock worth $618,000 after purchasing an additional 8,500 shares in the last quarter. SG Americas Securities LLC raised its stake in Transocean by 325.0% in the 3rd quarter. SG Americas Securities LLC now owns 540,940 shares of the offshore drilling services provider’s stock valued at $2,418,000 after purchasing an additional 413,659 shares during the last quarter. Alps Advisors Inc. raised its stake in Transocean by 7.3% in the 2nd quarter. Alps Advisors Inc. now owns 95,205 shares of the offshore drilling services provider’s stock valued at $610,000 after purchasing an additional 6,444 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Transocean by 3.2% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,013,768 shares of the offshore drilling services provider’s stock valued at $25,729,000 after purchasing an additional 124,521 shares during the last quarter. 70.65% of the stock is owned by institutional investors.

About Transocean

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. The company primarily offers drilling rigs, related equipment, and work crews; and ultra-deepwater and harsh environment drilling services. As of February 18, 2019, it owned or had partial ownership interests in, and operated 48 mobile offshore drilling units that consist of 31 ultra-deepwater floaters, 13 harsh environment floaters, and 4 midwater floaters.

Read More: What is the significance of a dead cat bounce?

Analyst Recommendations for Transocean (NYSE:RIG)

Receive News & Ratings for Transocean Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Transocean and related companies with MarketBeat.com's FREE daily email newsletter.