Transocean Ltd. (NYSE:RIG - Get Free Report)'s stock price reached a new 52-week low on Monday . The company traded as low as $3.30 and last traded at $3.32, with a volume of 1087511 shares traded. The stock had previously closed at $3.36.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on the stock. StockNews.com upgraded shares of Transocean to a "sell" rating in a report on Tuesday, November 12th. TD Cowen reduced their target price on Transocean from $6.50 to $5.50 and set a "hold" rating on the stock in a report on Wednesday, January 8th. JPMorgan Chase & Co. upgraded Transocean from an "underweight" rating to a "neutral" rating and set a $5.00 price target for the company in a research note on Friday, December 6th. Benchmark reaffirmed a "hold" rating on shares of Transocean in a research note on Tuesday, December 3rd. Finally, Barclays decreased their target price on Transocean from $4.50 to $4.00 and set an "overweight" rating for the company in a report on Tuesday. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $5.75.
View Our Latest Stock Analysis on Transocean
Transocean Trading Down 1.8 %
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 business has a 50 day simple moving average of $3.75 and a two-hundred day simple moving average of $4.15. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of -4.16, a price-to-earnings-growth ratio of 0.86 and a beta of 2.70.
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 analysts' expectations of $962.28 million. Transocean had a negative net margin of 14.53% and a negative return on equity of 0.52%. As a group, equities analysts anticipate that Transocean Ltd. will post 0.14 EPS for the current year.
Insiders Place Their Bets
In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of the company's stock in a transaction that occurred on 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 owns 313,072 shares in the company, valued at $1,205,327.20. This represents a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 13.16% of the stock is owned by company insiders.
Institutional Investors Weigh In On Transocean
A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted 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 worth $295,544,000 after purchasing an additional 931,684 shares during the period. Primecap Management Co. CA lifted its position in shares of Transocean by 0.4% in the 3rd quarter. Primecap Management Co. CA now owns 56,342,169 shares of the offshore drilling services provider's stock worth $239,454,000 after buying an additional 222,680 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Transocean by 2.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 40,008,596 shares of the offshore drilling services provider's stock valued at $150,029,000 after buying an additional 809,864 shares during the period. State Street Corp boosted its stake in Transocean by 11.0% in the third quarter. State Street Corp now owns 19,594,121 shares of the offshore drilling services provider's stock valued at $83,275,000 after acquiring an additional 1,944,723 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of Transocean by 51.5% in 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 purchasing an additional 6,542,271 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.
About Transocean
(
Get Free Report)
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.
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