Morgan Stanley Has Lowered Expectations for Transocean (NYSE:RIG) Stock Price

Transocean (NYSE:RIG - Get Free Report) had its target price cut by equities research analysts at Morgan Stanley from $5.00 to $4.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an "equal weight" rating on the offshore drilling services provider's stock. Morgan Stanley's price objective suggests a potential upside of 25.20% from the company's previous close.

RIG has been the topic of a number of other research reports. JPMorgan Chase & Co. upgraded Transocean from an "underweight" rating to a "neutral" rating and set a $5.00 price objective on the stock in a report on Friday, December 6th. SEB Equity Research set a $2.80 price target on shares of Transocean in a report on Wednesday, March 5th. Barclays reduced their price objective on shares of Transocean from $4.50 to $4.00 and set an "overweight" rating for the company in a research note on Tuesday, February 25th. TD Cowen lowered their target price on shares of Transocean from $6.50 to $5.50 and set a "hold" rating on the stock in a research report on Wednesday, January 8th. Finally, Benchmark reaffirmed a "hold" rating on shares of Transocean in a research report on Tuesday, December 3rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $5.03.

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Transocean Stock Down 3.2 %

Shares of RIG traded down $0.11 during mid-day trading on Thursday, reaching $3.20. The company's stock had a trading volume of 17,919,430 shares, compared to its average volume of 22,226,405. Transocean has a 1 year low of $2.55 and a 1 year high of $6.88. The company has a quick ratio of 1.34, a current ratio of 1.47 and a debt-to-equity ratio of 0.60. The company has a market cap of $2.82 billion, a price-to-earnings ratio of -4.38, a price-to-earnings-growth ratio of 0.86 and a beta of 2.72. The business has a fifty day moving average of $3.40 and a 200 day moving average of $3.90.

Transocean (NYSE:RIG - Get Free Report) last announced its quarterly earnings data on Monday, February 17th. The offshore drilling services provider reported ($0.09) EPS for the quarter, missing analysts' consensus estimates of $0.02 by ($0.11). The business had revenue of $952.00 million for the quarter, compared to analyst estimates of $962.28 million. Transocean had a negative return on equity of 0.52% and a negative net margin of 14.53%. As a group, analysts forecast that Transocean will post 0.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Roderick James Mackenzie sold 22,000 shares of the business's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $3.85, for a total value of $84,700.00. Following the sale, the executive vice president now owns 313,072 shares of the company's stock, valued at $1,205,327.20. The trade was a 6.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 13.16% of the stock is owned by company insiders.

Hedge Funds Weigh In On Transocean

Several institutional investors have recently added to or reduced their stakes in the company. Twin Tree Management LP bought a new position in shares of Transocean in the fourth quarter valued at about $27,000. Optiver Holding B.V. raised its stake in shares of Transocean by 53.6% in the fourth quarter. Optiver Holding B.V. now owns 8,400 shares of the offshore drilling services provider's stock worth $32,000 after acquiring an additional 2,933 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Transocean by 96.2% during the fourth quarter. Blue Trust Inc. now owns 9,841 shares of the offshore drilling services provider's stock worth $37,000 after purchasing an additional 4,826 shares in the last quarter. Adero Partners LLC bought a new stake in shares of Transocean during the fourth quarter valued at approximately $38,000. Finally, Stratos Wealth Partners LTD. acquired a new stake in shares of Transocean in the fourth quarter valued at approximately $40,000. 67.73% of the stock is owned by institutional investors.

Transocean Company Profile

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. The company operates a fleet of mobile offshore drilling units, consisting of ultra-deepwater floaters and harsh environment floaters.