Transocean Ltd. (NYSE:RIG) Receives Average Rating of "Hold" from Analysts

Shares of Transocean Ltd. (NYSE:RIG - Get Free Report) have been assigned a consensus rating of "Hold" from the ten ratings firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $5.23.

RIG has been the subject of a number of research analyst reports. TD Cowen decreased their price target on Transocean from $6.50 to $5.50 and set a "hold" rating for the company in a research note on Wednesday, January 8th. Evercore ISI cut shares of Transocean from an "outperform" rating to an "in-line" rating and lowered their target price for the stock from $6.00 to $5.00 in a research note on Wednesday, January 15th. Citigroup lowered their price objective on shares of Transocean from $4.50 to $3.50 and set a "neutral" rating for the company in a research note on Wednesday, March 19th. Barclays cut their target price on Transocean from $4.50 to $4.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 25th. Finally, SEB Equity Research set a $2.80 price target on Transocean in a research note on Wednesday, March 5th.

Transocean Stock Down 2.6 %

NYSE:RIG traded down $0.09 during mid-day trading on Monday, reaching $3.15. The company's stock had a trading volume of 30,090,049 shares, compared to its average volume of 21,779,988. 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 firm has a market capitalization of $2.76 billion, a PE ratio of -4.31, a price-to-earnings-growth ratio of 0.86 and a beta of 2.72. Transocean has a 1 year low of $2.55 and a 1 year high of $6.88. The stock has a fifty day moving average of $3.48 and a 200-day moving average of $3.92.

Remove Ads

Transocean (NYSE:RIG - Get Free Report) last released its quarterly 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). Transocean had a negative return on equity of 0.52% and a negative net margin of 14.53%. The firm had revenue of $952.00 million during the quarter, compared to analysts' expectations of $962.28 million. Equities research analysts forecast that Transocean will post 0.14 earnings per share for the current year.

Insider Transactions at Transocean

In other news, EVP Roderick James Mackenzie sold 22,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $3.85, for a total value of $84,700.00. Following the completion of the transaction, the executive vice president now owns 313,072 shares of the company's stock, valued at approximately $1,205,327.20. This trade represents a 6.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 13.16% of the company's stock.

Institutional Trading of Transocean

Several hedge funds have recently modified their holdings of RIG. Vanguard Group Inc. raised its holdings in Transocean by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 78,811,863 shares of the offshore drilling services provider's stock valued at $295,544,000 after acquiring an additional 931,684 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Transocean by 2.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 40,008,596 shares of the offshore drilling services provider's stock worth $150,029,000 after buying an additional 809,864 shares during the last quarter. State Street Corp lifted its stake in Transocean by 11.0% during the third quarter. State Street Corp now owns 19,594,121 shares of the offshore drilling services provider's stock worth $83,275,000 after purchasing an additional 1,944,723 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Transocean by 51.5% during the 4th quarter. American Century Companies Inc. now owns 19,257,437 shares of the offshore drilling services provider's stock worth $72,215,000 after buying an additional 6,542,271 shares during the last quarter. Finally, Pilgrim Global Advisors LLC purchased a new position in shares of Transocean during the third quarter worth about $77,473,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

About Transocean

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.