Transocean Ltd. (NYSE:RIG) had its price objective boosted by equities research analysts at Jefferies Group LLC from $10.50 to $11.00 in a research report issued to clients and investors on Friday. The firm currently has a “hold” rating on the offshore drilling services provider’s stock. Jefferies Group LLC’s target price would suggest a potential upside of 1.10% from the stock’s current price.

Other research analysts have also recently issued reports about the company. Evercore ISI restated a “buy” rating and set a $18.00 target price on shares of Transocean in a report on Thursday, August 10th. ValuEngine upgraded Transocean from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. Zacks Investment Research upgraded Transocean from a “hold” rating to a “buy” rating and set a $9.50 target price on the stock in a report on Wednesday, August 2nd. Credit Suisse Group restated a “buy” rating on shares of Transocean in a report on Wednesday, July 19th. Finally, Pareto Securities upgraded Transocean from a “hold” rating to a “buy” rating in a report on Friday, August 18th. Ten research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $12.25.

Transocean (NYSE RIG) traded up $0.26 during mid-day trading on Friday, reaching $10.88. The company had a trading volume of 13,363,139 shares, compared to its average volume of 13,702,768. The company has a current ratio of 2.36, a quick ratio of 2.03 and a debt-to-equity ratio of 0.51. Transocean has a 12 month low of $7.20 and a 12 month high of $16.66. The firm has a market cap of $4,256.40, a PE ratio of 13.60 and a beta of 1.81.

Transocean (NYSE:RIG) last posted its quarterly earnings data on Wednesday, November 1st. The offshore drilling services provider reported $0.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.20. The company had revenue of $808.00 million for the quarter, compared to analysts’ expectations of $703.13 million. Transocean had a positive return on equity of 2.10% and a negative net margin of 84.09%. Transocean’s revenue was down 10.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.25 EPS. equities research analysts anticipate that Transocean will post -0.29 earnings per share for the current fiscal year.

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

A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. increased its holdings in Transocean by 12.1% in the second quarter. BlackRock Inc. now owns 25,538,929 shares of the offshore drilling services provider’s stock valued at $210,185,000 after buying an additional 2,756,207 shares during the last quarter. State Street Corp increased its holdings in Transocean by 7.5% in the second quarter. State Street Corp now owns 22,918,962 shares of the offshore drilling services provider’s stock valued at $188,616,000 after buying an additional 1,593,179 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Transocean by 1.7% in the second quarter. Dimensional Fund Advisors LP now owns 12,593,894 shares of the offshore drilling services provider’s stock valued at $103,650,000 after buying an additional 210,390 shares during the last quarter. Contrarius Investment Management Ltd increased its holdings in Transocean by 96.8% in the second quarter. Contrarius Investment Management Ltd now owns 9,740,030 shares of the offshore drilling services provider’s stock valued at $80,160,000 after buying an additional 4,790,469 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC increased its holdings in Transocean by 129.6% in the second quarter. Thompson Siegel & Walmsley LLC now owns 6,299,461 shares of the offshore drilling services provider’s stock valued at $51,844,000 after buying an additional 3,556,281 shares during the last quarter. 68.65% of the stock is currently owned by hedge funds and other institutional investors.

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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