Several brokerages have updated their recommendations and price targets on shares of Transocean (NYSE: RIG) in the last few weeks:

  • 10/2/2018 – Transocean was upgraded by analysts at ValuEngine from a “buy” rating to a “strong-buy” rating.
  • 10/1/2018 – Transocean was given a new $14.00 price target on by analysts at Piper Jaffray Companies. They now have a “hold” rating on the stock.
  • 9/20/2018 – Transocean was upgraded by analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating.
  • 9/19/2018 – Transocean was upgraded by analysts at Wells Fargo & Co from a “market perform” rating to an “outperform” rating. They now have a $16.00 price target on the stock, up previously from $13.00.
  • 9/19/2018 – Transocean was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 9/18/2018 – Transocean is now covered by analysts at Morgan Stanley. They set an “overweight” rating and a $15.00 price target on the stock.
  • 9/17/2018 – Transocean is now covered by analysts at BTIG Research. They set a “buy” rating and a $18.00 price target on the stock.
  • 9/10/2018 – Transocean was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 9/5/2018 – Transocean was given a new $15.00 price target on by analysts at UBS Group AG. They now have a “buy” rating on the stock.
  • 9/4/2018 – Transocean had its “sell” rating reaffirmed by analysts at JPMorgan Chase & Co..
  • 9/4/2018 – Transocean was downgraded by analysts at ValuEngine from a “strong-buy” rating to a “buy” rating.
  • 8/17/2018 – Transocean had its “hold” rating reaffirmed by analysts at Piper Jaffray Companies. They now have a $13.30 price target on the stock.
  • 8/10/2018 – Transocean had its “sell” rating reaffirmed by analysts at BMO Capital Markets. They now have a $8.00 price target on the stock.
  • 8/9/2018 – Transocean had its price target raised by analysts at Barclays PLC from $7.00 to $8.00. They now have an “underweight” rating on the stock.

RIG traded down $0.07 during trading on Friday, reaching $13.66. The company had a trading volume of 10,160,434 shares, compared to its average volume of 14,208,149. The company has a market cap of $6.44 billion, a PE ratio of -227.67 and a beta of 1.47. Transocean LTD has a 52 week low of $8.70 and a 52 week high of $14.34. The company has a quick ratio of 1.35, a current ratio of 1.49 and a debt-to-equity ratio of 0.63.

Transocean (NYSE:RIG) last issued its quarterly earnings results on Monday, July 30th. The offshore drilling services provider reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.13. The company had revenue of $790.00 million during the quarter, compared to the consensus estimate of $768.68 million. Transocean had a negative return on equity of 2.00% and a negative net margin of 99.38%. Transocean’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, research analysts anticipate that Transocean LTD will post -0.85 earnings per share for the current fiscal year.

In related news, Director Vincent J. Intrieri purchased 10,000 shares of the stock in a transaction that occurred on Thursday, August 16th. The stock was bought at an average cost of $10.62 per share, for a total transaction of $106,200.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at $106,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 14.09% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. United Services Automobile Association lifted its position in Transocean by 41.4% in the second quarter. United Services Automobile Association now owns 1,914,495 shares of the offshore drilling services provider’s stock worth $25,731,000 after buying an additional 560,408 shares during the last quarter. Royal London Asset Management Ltd. purchased a new stake in Transocean in the second quarter worth $187,000. Hellman Jordan Management Co. Inc. MA purchased a new stake in Transocean in the second quarter worth $643,000. Energy Opportunities Capital Management LLC purchased a new stake in Transocean in the second quarter worth $2,582,000. Finally, Odey Asset Management Group Ltd increased its stake in Transocean by 2.7% in the second quarter. Odey Asset Management Group Ltd now owns 6,042,430 shares of the offshore drilling services provider’s stock worth $81,210,000 after purchasing an additional 158,931 shares during the period. Institutional investors own 70.74% of the company’s stock.

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. The company primarily offers deepwater and harsh environment drilling services. As of February 20, 2018, it owned or had partial ownership interests in, and operated 47 mobile offshore drilling units that consist of 27 ultra-deepwater floaters, 12 harsh environment floaters, 2 deepwater floaters, 6 midwater floaters, and 2 high-specification jackups.

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