Transocean Ltd. (NYSE:RIG) was upgraded by equities research analysts at Bank of America Corporation from an “underperform” rating to a “neutral” rating in a research note issued to investors on Tuesday, The Fly reports.

Several other research firms have also issued reports on RIG. Deutsche Bank AG reduced their price objective on shares of Transocean from $8.00 to $7.00 and set a “hold” rating for the company in a research note on Tuesday, April 18th. BMO Capital Markets reaffirmed a “sell” rating and issued a $10.00 price objective on shares of Transocean in a research note on Tuesday, April 18th. Credit Suisse Group AG set a $18.00 price objective on shares of Transocean and gave the company a “buy” rating in a research note on Thursday, April 20th. Royal Bank Of Canada reaffirmed an “underperform” rating and issued a $15.00 price objective on shares of Transocean in a research note on Tuesday, April 25th. Finally, R. F. Lafferty reduced their price objective on shares of Transocean from $21.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, May 8th. Twelve research analysts have rated the stock with a sell rating, fifteen have given a hold rating and ten have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $12.73.

Transocean (RIG) traded down 5.96% on Tuesday, reaching $7.89. The company’s stock had a trading volume of 45,485,933 shares. The stock has a 50 day moving average price of $8.44 and a 200-day moving average price of $10.78. The company’s market capitalization is $3.09 billion. Transocean has a 1-year low of $7.55 and a 1-year high of $16.66.

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Several institutional investors have recently made changes to their positions in the company. Chevy Chase Trust Holdings Inc. raised its position in shares of Transocean by 3.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 335,593 shares of the offshore drilling services provider’s stock worth $4,178,000 after buying an additional 10,278 shares during the last quarter. Capstone Asset Management Co. raised its position in shares of Transocean by 12.7% in the first quarter. Capstone Asset Management Co. now owns 73,330 shares of the offshore drilling services provider’s stock valued at $913,000 after buying an additional 8,270 shares in the last quarter. Perkins Capital Management Inc. acquired a new position in shares of Transocean during the first quarter valued at $743,000. Granite Investment Advisors LLC acquired a new position in shares of Transocean during the first quarter valued at $3,385,000. Finally, Hartford Investment Management Co. raised its position in shares of Transocean by 0.6% in the first quarter. Hartford Investment Management Co. now owns 103,575 shares of the offshore drilling services provider’s stock valued at $1,290,000 after buying an additional 654 shares in the last quarter. Institutional investors own 69.31% of the company’s stock.

About Transocean

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.

The Fly

Analyst Recommendations for Transocean (NYSE:RIG)

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