Transocean Ltd. (RIG) Receives Average Rating of “Hold” from Brokerages
Transocean Ltd. (NYSE:RIG) has received an average rating of “Hold” from the forty brokerages that are currently covering the stock, MarketBeat Ratings reports. Sixteen research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have issued a buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $13.00.
A number of brokerages have weighed in on RIG. Morgan Stanley decreased their price target on shares of Transocean from $13.00 to $12.00 and set an “underweight” rating on the stock in a report on Friday, June 16th. BidaskClub upgraded shares of Transocean from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Jefferies Group LLC set a $12.00 price target on shares of Transocean and gave the company a “hold” rating in a report on Wednesday, May 24th. Odeon Capital Group LLC began coverage on shares of Transocean in a report on Wednesday, May 17th. They issued a “sell” rating and a $8.00 price target on the stock. Finally, Royal Bank Of Canada reiterated a “sell” rating and issued a $13.00 price target on shares of Transocean in a report on Monday, May 15th.
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Transocean (RIG) traded down 5.00% on Friday, reaching $7.79. The company had a trading volume of 18,753,788 shares. The stock has a market capitalization of $3.05 billion, a PE ratio of 4.68 and a beta of 1.70. The stock has a 50 day moving average price of $9.79 and a 200 day moving average price of $12.59. Transocean has a 52-week low of $7.67 and a 52-week high of $16.66.
Transocean (NYSE:RIG) last announced its quarterly earnings results on Wednesday, May 3rd. The offshore drilling services provider reported $0.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.09. The company had revenue of $785 million for the quarter, compared to analyst estimates of $737.51 million. Transocean had a net margin of 17.28% and a return on equity of 2.57%. Analysts expect that Transocean will post ($0.44) EPS for the current year.
In related news, SVP David A. Tonnel sold 9,450 shares of the business’s stock in a transaction dated Thursday, April 27th. The shares were sold at an average price of $11.28, for a total transaction of $106,596.00. Following the completion of the sale, the senior vice president now owns 54,845 shares of the company’s stock, valued at approximately $618,651.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.33% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Federated Investors Inc. PA purchased a new position in Transocean during the fourth quarter worth about $101,000. FNY Partners Fund LP bought a new stake in shares of Transocean during the first quarter worth $108,000. WFG Advisors LP raised its stake in shares of Transocean by 40.7% in the first quarter. WFG Advisors LP now owns 8,856 shares of the offshore drilling services provider’s stock worth $110,000 after buying an additional 2,562 shares in the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of Transocean during the first quarter worth $116,000. Finally, Ronald Blue & Co. LLC bought a new stake in shares of Transocean during the first quarter worth $125,000. 68.16% of the stock is owned by institutional investors and hedge funds.
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.
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