Analysts Set Transocean Ltd. (NYSE:RIG) Target Price at $4.59

Shares of Transocean Ltd. (NYSE:RIG - Get Free Report) have been assigned an average recommendation of "Hold" from the nine research firms that are currently covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $4.59.

Several research firms recently weighed in on RIG. Morgan Stanley reduced their price target on shares of Transocean from $5.00 to $4.00 and set an "equal weight" rating for the company in a research report on Thursday, March 27th. Citigroup reduced their price target on shares of Transocean from $4.50 to $3.50 and set a "neutral" rating for the company in a research report on Wednesday, March 19th. Susquehanna reduced their price target on shares of Transocean from $5.00 to $4.00 and set a "positive" rating for the company in a research report on Monday, April 14th. Barclays reduced their price target on shares of Transocean from $4.00 to $3.50 and set an "overweight" rating for the company in a research report on Monday, April 7th. Finally, Evercore ISI downgraded shares of Transocean from an "outperform" rating to an "in-line" rating and dropped their price objective for the company from $6.00 to $5.00 in a report on Wednesday, January 15th.

Transocean Trading Up 3.3 %

NYSE RIG traded up $0.07 during trading hours on Friday, hitting $2.21. 8,448,812 shares of the company's stock were exchanged, compared to its average volume of 35,561,992. The stock has a 50-day simple moving average of $2.86 and a 200 day simple moving average of $3.64. Transocean has a 1-year low of $1.97 and a 1-year high of $6.38. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of -3.03, 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 (NYSE:RIG - Get Free Report) last released its earnings results on Monday, February 17th. The offshore drilling services provider reported ($0.09) EPS for the quarter, missing the consensus estimate 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%. On average, equities analysts forecast that Transocean will post 0.14 EPS for the current fiscal year.

Insider Buying and Selling

In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of the company's stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $2.23, for a total value of $49,060.00. Following the sale, the executive vice president now owns 362,841 shares in the company, valued at approximately $809,135.43. This represents a 5.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 13.16% of the stock is owned by insiders.

Institutional Investors Weigh In On Transocean

A number of institutional investors have recently made changes to their positions in the company. Stifel Financial Corp raised its position in Transocean by 3.8% in the third quarter. Stifel Financial Corp now owns 152,149 shares of the offshore drilling services provider's stock worth $647,000 after acquiring an additional 5,636 shares during the period. Orion Portfolio Solutions LLC bought a new position in Transocean in the third quarter worth approximately $46,000. Barclays PLC raised its position in Transocean by 60.1% in the third quarter. Barclays PLC now owns 1,623,924 shares of the offshore drilling services provider's stock worth $6,902,000 after acquiring an additional 609,681 shares during the period. Geode Capital Management LLC raised its position in Transocean by 4.1% in the third quarter. Geode Capital Management LLC now owns 17,245,298 shares of the offshore drilling services provider's stock worth $73,307,000 after acquiring an additional 680,242 shares during the period. Finally, Franklin Resources Inc. bought a new position in Transocean in the third quarter worth approximately $157,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

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.