An issue of Transocean LTD (NYSE:RIG) bonds rose 2% as a percentage of their face value during trading on Thursday. The high-yield issue of debt has a 6.8% coupon and is set to mature on March 15, 2038. The bonds in the issue are now trading at $85.00 and were trading at $80.25 one week ago. Price moves in a company’s bonds in credit markets sometimes anticipate parallel moves in its stock price.

RIG has been the subject of several research reports. ValuEngine cut Transocean from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. Zacks Investment Research cut Transocean from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Nordea Equity Research reissued a “buy” rating and set a $14.00 price target on shares of Transocean in a report on Saturday, September 30th. Jefferies Group reissued a “hold” rating and set a $9.00 price target on shares of Transocean in a report on Friday, September 22nd. Finally, initiated coverage on Transocean in a report on Thursday, October 19th. They set a “hold” rating and a $12.00 price target for the company. Eleven investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have assigned a buy rating to the company. Transocean has a consensus rating of “Hold” and a consensus price target of $12.19.

Transocean LTD (NYSE RIG) opened at $11.61 on Friday. The firm has a market capitalization of $4,540.00, a price-to-earnings ratio of -1.63 and a beta of 1.79. The company has a quick ratio of 2.13, a current ratio of 2.36 and a debt-to-equity ratio of 0.51. Transocean LTD has a fifty-two week low of $7.20 and a fifty-two week high of $16.16.

Transocean (NYSE:RIG) last announced its quarterly earnings data on Wednesday, November 1st. The offshore drilling services provider reported $0.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.20. The firm had revenue of $808.00 million during 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%. The company’s quarterly revenue was down 10.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.25 EPS. equities research analysts anticipate that Transocean LTD will post -0.34 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Transocean by 0.6% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 29,052 shares of the offshore drilling services provider’s stock valued at $239,000 after purchasing an additional 175 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Transocean by 0.5% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 49,298 shares of the offshore drilling services provider’s stock valued at $406,000 after purchasing an additional 226 shares during the last quarter. Thrivent Financial For Lutherans increased its stake in shares of Transocean by 2.4% in the 2nd quarter. Thrivent Financial For Lutherans now owns 14,840 shares of the offshore drilling services provider’s stock valued at $122,000 after purchasing an additional 350 shares during the last quarter. Stifel Financial Corp increased its stake in shares of Transocean by 0.5% in the 2nd quarter. Stifel Financial Corp now owns 81,518 shares of the offshore drilling services provider’s stock valued at $664,000 after purchasing an additional 410 shares during the last quarter. Finally, State of Tennessee Treasury Department increased its stake in shares of Transocean by 0.5% in the 2nd quarter. State of Tennessee Treasury Department now owns 106,955 shares of the offshore drilling services provider’s stock valued at $880,000 after purchasing an additional 545 shares during the last quarter. 72.88% of the stock is owned by hedge funds and other institutional investors.

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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.

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