Transocean LTD (NYSE:RIG)’s share price was down 5.4% during trading on Monday . The stock traded as low as $6.93 and last traded at $7.06. Approximately 16,132,524 shares traded hands during trading, an increase of 20% from the average daily volume of 13,475,604 shares. The stock had previously closed at $7.46.

Several equities analysts have recently issued reports on the company. Barclays raised Transocean from an “underweight” rating to an “overweight” rating and set a $10.00 price target for the company in a research report on Wednesday, February 20th. Zacks Investment Research lowered Transocean from a “hold” rating to a “sell” rating in a research report on Tuesday, February 26th. Finally, Goldman Sachs Group assumed coverage on Transocean in a research report on Sunday, March 10th. They issued a “buy” rating and a $11.00 price target for the company. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $13.86.

The firm has a market capitalization of $4.32 billion, a P/E ratio of -9.39 and a beta of 1.76. The company has a quick ratio of 2.37, a current ratio of 2.72 and a debt-to-equity ratio of 0.70.

Transocean (NYSE:RIG) last released its quarterly earnings data on Monday, April 29th. The offshore drilling services provider reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.01). Transocean had a negative return on equity of 2.70% and a negative net margin of 62.97%. The business had revenue of $754.00 million during the quarter, compared to the consensus estimate of $745.43 million. During the same quarter in the previous year, the business posted ($0.48) earnings per share. Transocean’s quarterly revenue was up 13.6% compared to the same quarter last year. On average, equities analysts expect that Transocean LTD will post -0.89 EPS for the current year.

In other Transocean news, Director Vincent J. Intrieri acquired 10,000 shares of Transocean stock in a transaction that occurred on Tuesday, May 7th. The stock was bought at an average cost of $7.35 per share, for a total transaction of $73,500.00. Following the acquisition, the director now owns 19,900 shares of the company’s stock, valued at $146,265. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP David A. Tonnel sold 16,561 shares of Transocean stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $9.25, for a total value of $153,189.25. Following the completion of the sale, the senior vice president now owns 111,936 shares of the company’s stock, valued at $1,035,408. The disclosure for this sale can be found here. 11.05% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. We Are One Seven LLC bought a new stake in Transocean in the 4th quarter worth about $31,000. Icon Wealth Partners LLC bought a new stake in shares of Transocean during the 1st quarter valued at about $38,000. Nisa Investment Advisors LLC bought a new stake in shares of Transocean during the 1st quarter valued at about $44,000. NuWave Investment Management LLC grew its stake in shares of Transocean by 2,193.1% during the 4th quarter. NuWave Investment Management LLC now owns 8,324 shares of the offshore drilling services provider’s stock valued at $57,000 after purchasing an additional 7,961 shares during the period. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of Transocean during the 1st quarter valued at about $70,000. Institutional investors own 75.64% of the company’s stock.

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Transocean Company Profile (NYSE:RIG)

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. The company primarily offers drilling rigs, related equipment, and work crews; and ultra-deepwater and harsh environment drilling services. As of February 18, 2019, it owned or had partial ownership interests in, and operated 48 mobile offshore drilling units that consist of 31 ultra-deepwater floaters, 13 harsh environment floaters, and 4 midwater floaters.

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