Susquehanna Cuts Transocean (NYSE:RIG) Price Target to $4.00

Transocean (NYSE:RIG - Get Free Report) had its price objective decreased by analysts at Susquehanna from $5.00 to $4.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a "positive" rating on the offshore drilling services provider's stock. Susquehanna's target price points to a potential upside of 75.82% from the stock's current price.

RIG has been the subject of several other research reports. Morgan Stanley cut their target price on Transocean from $5.00 to $4.00 and set an "equal weight" rating for the company in a research note on Thursday, March 27th. Barclays cut their price objective on Transocean from $4.00 to $3.50 and set an "overweight" rating on the stock in a research report on Monday, April 7th. SEB Equity Research set a $2.80 price objective on Transocean in a report on Wednesday, March 5th. TD Cowen lowered their price objective on Transocean from $6.50 to $5.50 and set a "hold" rating for the company in a research note on Wednesday, January 8th. Finally, Evercore ISI downgraded shares of Transocean from an "outperform" rating to an "in-line" rating and reduced their price target for the company from $6.00 to $5.00 in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $4.59.

Transocean Price Performance

NYSE:RIG traded up $0.12 on Monday, hitting $2.28. The company had a trading volume of 44,828,532 shares, compared to its average volume of 24,108,666. The firm has a 50 day moving average of $2.92 and a two-hundred day moving average of $3.68. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of -3.12, a PEG ratio of 0.86 and a beta of 2.29. The company has a current ratio of 1.47, a quick ratio of 1.34 and a debt-to-equity ratio of 0.60. Transocean has a 52 week low of $1.97 and a 52 week high of $6.38.

Transocean (NYSE:RIG - Get Free Report) last released its earnings results on Monday, February 17th. The offshore drilling services provider reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.11). The firm had revenue of $952.00 million during the quarter, compared to analyst estimates of $962.28 million. Transocean had a negative net margin of 14.53% and a negative return on equity of 0.52%. On average, research analysts anticipate that Transocean will post 0.14 earnings per share for the current year.

Insider Buying and Selling at Transocean

In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of the business's stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $2.23, for a total transaction of $49,060.00. Following the completion of the sale, the executive vice president now directly owns 362,841 shares in the company, valued at approximately $809,135.43. The trade was a 5.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 13.16% of the company's stock.

Institutional Trading of Transocean

Several large investors have recently added to or reduced their stakes in RIG. Optiver Holding B.V. boosted its position in shares of Transocean by 53.6% during the 4th quarter. Optiver Holding B.V. now owns 8,400 shares of the offshore drilling services provider's stock worth $32,000 after purchasing an additional 2,933 shares during the period. Ballentine Partners LLC raised its holdings in Transocean by 19.4% during the fourth quarter. Ballentine Partners LLC now owns 18,247 shares of the offshore drilling services provider's stock worth $68,000 after purchasing an additional 2,963 shares in the last quarter. Van Den Berg Management I Inc. grew its position in shares of Transocean by 11.9% in the 4th quarter. Van Den Berg Management I Inc. now owns 28,155 shares of the offshore drilling services provider's stock valued at $106,000 after buying an additional 3,000 shares during the last quarter. Pallas Capital Advisors LLC raised its stake in Transocean by 25.6% during the 4th quarter. Pallas Capital Advisors LLC now owns 15,332 shares of the offshore drilling services provider's stock worth $57,000 after acquiring an additional 3,127 shares in the last quarter. Finally, Nomura Holdings Inc. lifted its holdings in shares of Transocean by 11.6% in the 4th quarter. Nomura Holdings Inc. now owns 32,651 shares of the offshore drilling services provider's stock valued at $122,000 after purchasing an additional 3,390 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other 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.