ValuEngine Downgrades Transocean (RIG) to Strong Sell
ValuEngine cut shares of Transocean (NYSE:RIG) from a sell rating to a strong sell rating in a report issued on Thursday morning.
Other analysts have also recently issued reports about the company. Jefferies Group upgraded Transocean from a hold rating to a buy rating and set a $13.00 target price on the stock in a research report on Thursday, January 4th. TheStreet cut Transocean from a c- rating to a d rating in a research report on Friday, November 3rd. Susquehanna Bancshares set a $10.00 target price on Transocean and gave the company a hold rating in a research report on Friday, February 16th. Piper Jaffray Companies set a $11.00 target price on Transocean and gave the company a hold rating in a research report on Thursday, February 15th. Finally, Cowen set a $11.00 target price on Transocean and gave the company a hold rating in a research report on Thursday, January 11th. Nine research analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $12.12.
Shares of Transocean (RIG) opened at $9.48 on Thursday. The company has a current ratio of 3.36, a quick ratio of 3.06 and a debt-to-equity ratio of 0.56. Transocean has a 1 year low of $7.20 and a 1 year high of $14.05.
In other news, SVP David A. Tonnel sold 9,000 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $9.39, for a total transaction of $84,510.00. Following the completion of the sale, the senior vice president now directly owns 75,349 shares of the company’s stock, valued at approximately $707,527.11. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.31% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in RIG. Alyeska Investment Group L.P. bought a new stake in shares of Transocean during the 3rd quarter worth $26,661,000. Orbis Allan Gray Ltd bought a new stake in shares of Transocean during the 4th quarter worth $20,610,000. Principal Financial Group Inc. boosted its stake in shares of Transocean by 310.7% during the 3rd quarter. Principal Financial Group Inc. now owns 2,536,811 shares of the offshore drilling services provider’s stock worth $27,296,000 after acquiring an additional 1,919,171 shares in the last quarter. Schroder Investment Management Group boosted its stake in shares of Transocean by 132.5% during the 4th quarter. Schroder Investment Management Group now owns 2,802,851 shares of the offshore drilling services provider’s stock worth $29,935,000 after acquiring an additional 1,597,440 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Transocean by 28.5% during the 4th quarter. Renaissance Technologies LLC now owns 5,771,600 shares of the offshore drilling services provider’s stock worth $61,641,000 after acquiring an additional 1,278,900 shares in the last quarter. 62.95% of the stock is owned by institutional investors and hedge funds.
ILLEGAL ACTIVITY NOTICE: “ValuEngine Downgrades Transocean (RIG) to Strong Sell” was originally published by Watch List News and is owned by of Watch List News. If you are reading this story on another publication, it was illegally stolen and republished in violation of US & international trademark and copyright law. The legal version of this story can be read at https://www.watchlistnews.com/valuengine-downgrades-transocean-rig-to-strong-sell/1909551.html.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Transocean Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Transocean and related companies with MarketBeat.com's FREE daily email newsletter.