Transocean LTD (RIG) Upgraded to Sell by BidaskClub
Transocean LTD (NYSE:RIG) was upgraded by stock analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued to investors on Saturday.
Several other equities analysts have also weighed in on RIG. Barclays PLC increased their target price on Transocean LTD from $8.00 to $10.00 and gave the company an “underweight” rating in a research note on Monday, May 1st. UBS AG reissued a “neutral” rating and issued a $12.00 target price (down previously from $15.00) on shares of Transocean LTD in a research note on Friday, May 5th. Royal Bank Of Canada reissued a “sell” rating and issued a $13.00 target price on shares of Transocean LTD in a research note on Friday, May 5th. R. F. Lafferty cut their target price on Transocean LTD from $21.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday, May 8th. Finally, B. Riley cut their target price on Transocean LTD from $21.00 to $16.00 and set a “buy” rating on the stock in a research note on Tuesday, May 9th. Ten equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have assigned a buy rating to the stock. Transocean LTD presently has an average rating of “Hold” and an average price target of $12.37.
Transocean LTD (NYSE RIG) opened at 8.10 on Friday. The stock’s 50 day moving average is $8.27 and its 200-day moving average is $10.42. Transocean LTD has a 1-year low of $7.20 and a 1-year high of $16.66. The firm’s market capitalization is $3.17 billion.
In other Transocean LTD news, CAO Howard E. Davis acquired 40,000 shares of the business’s stock in a transaction dated Thursday, August 17th. The stock was bought at an average cost of $7.32 per share, with a total value of $292,800.00. Following the completion of the transaction, the chief accounting officer now directly owns 21,793 shares in the company, valued at approximately $159,524.76. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.33% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. WFG Advisors LP boosted its stake in Transocean LTD by 60.3% in the second quarter. WFG Advisors LP now owns 14,194 shares of the offshore drilling services provider’s stock worth $117,000 after buying an additional 5,338 shares during the last quarter. Toronto Dominion Bank boosted its stake in Transocean LTD by 26.9% in the second quarter. Toronto Dominion Bank now owns 127,856 shares of the offshore drilling services provider’s stock worth $1,052,000 after buying an additional 27,064 shares during the last quarter. Cetera Investment Advisers acquired a new stake in Transocean LTD during the second quarter worth about $1,302,000. Koch Industries Inc. acquired a new stake in Transocean LTD during the second quarter worth about $319,000. Finally, Piedmont Investment Advisors LLC boosted its stake in Transocean LTD by 16.7% in the second quarter. Piedmont Investment Advisors LLC now owns 283,454 shares of the offshore drilling services provider’s stock worth $2,333,000 after buying an additional 40,624 shares during the last quarter. 67.84% of the stock is owned by institutional investors.
Transocean LTD 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.
Receive News & Ratings for Transocean LTD Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Transocean LTD and related companies with Analyst Ratings Network's FREE daily email newsletter.