Transocean Ltd. (NYSE:RIG) Given Consensus Recommendation of "Hold" by Analysts

Transocean Ltd. (NYSE:RIG - Get Free Report) has been given an average rating of "Hold" by the ten research firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $5.75.

RIG has been the subject of a number of research reports. Barclays decreased their target price 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. Evercore ISI downgraded Transocean from an "outperform" rating to an "in-line" rating and dropped their price objective for the stock from $6.00 to $5.00 in a report on Wednesday, January 15th. Benchmark restated a "hold" rating on shares of Transocean in a report on Tuesday, December 3rd. 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. Finally, JPMorgan Chase & Co. raised 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.

Transocean Price Performance

NYSE:RIG traded down $0.09 during mid-day trading on Thursday, reaching $2.96. 32,399,740 shares of the stock were exchanged, compared to its average volume of 28,552,021. Transocean has a 1-year low of $2.95 and a 1-year high of $6.88. The company has a current ratio of 1.47, a quick ratio of 1.34 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $2.60 billion, a PE ratio of -4.05, a PEG ratio of 0.86 and a beta of 2.70. The business has a fifty day moving average price of $3.74 and a 200 day moving average price of $4.13.

Remove Ads

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

Insider Buying and Selling at Transocean

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

Institutional Trading of Transocean

A number of institutional investors and hedge funds have recently modified their holdings of the company. Oppenheimer Asset Management Inc. boosted its stake in Transocean by 10.9% during the third quarter. Oppenheimer Asset Management Inc. now owns 25,170 shares of the offshore drilling services provider's stock worth $107,000 after buying an additional 2,469 shares in the last quarter. Optiver Holding B.V. lifted its holdings 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 acquiring an additional 2,933 shares during the period. Ballentine Partners LLC boosted its position in shares of Transocean by 19.4% during the 4th quarter. Ballentine Partners LLC now owns 18,247 shares of the offshore drilling services provider's stock valued at $68,000 after acquiring an additional 2,963 shares in the last quarter. Van Den Berg Management I Inc. increased its stake in Transocean by 11.9% in the fourth 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 acquiring an additional 3,000 shares during the period. Finally, Pallas Capital Advisors LLC raised its position in Transocean by 25.6% in the fourth quarter. Pallas Capital Advisors LLC now owns 15,332 shares of the offshore drilling services provider's stock worth $57,000 after purchasing an additional 3,127 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

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.