Transocean Ltd. (NYSE:RIG) Given Consensus Rating of “Hold” by Brokerages

Transocean Ltd. (NYSE:RIG) has been given a consensus recommendation of “Hold” by the ten analysts that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $7.70.

Several brokerages recently weighed in on RIG. Evercore ISI reduced their price target on Transocean from $9.00 to $7.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. Benchmark reiterated a “buy” rating and issued a $8.00 price target on shares of Transocean in a research note on Tuesday, April 30th. Morgan Stanley reduced their price objective on shares of Transocean from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Monday, February 26th. Susquehanna raised shares of Transocean from a “neutral” rating to a “positive” rating and lifted their target price for the stock from $5.50 to $9.00 in a report on Monday, April 8th. Finally, Bank of America lifted their target price on shares of Transocean from $5.50 to $6.00 and gave the stock an “underperform” rating in a report on Monday, April 15th.

Transocean Price Performance

Shares of RIG stock opened at $5.15 on Friday. The stock has a market cap of $4.22 billion, a price-to-earnings ratio of -9.90 and a beta of 2.82. The business’s fifty day moving average is $5.69 and its 200 day moving average is $5.71. Transocean has a twelve month low of $4.45 and a twelve month high of $8.88. The company has a quick ratio of 1.04, a current ratio of 1.35 and a debt-to-equity ratio of 0.65.

Transocean (NYSE:RIG) last issued its quarterly earnings results on Monday, April 29th. The offshore drilling services provider reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.10. The company had revenue of $767.00 million for the quarter, compared to analysts’ expectations of $781.86 million. Transocean had a negative return on equity of 4.67% and a negative net margin of 13.27%. The firm’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.38) earnings per share.

Insider Activity

In related news, Director (Cyprus) Ltd Perestroika acquired 2,000,000 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was purchased at an average cost of $6.01 per share, with a total value of $12,020,000.00. Following the completion of the acquisition, the director now directly owns 87,574,894 shares of the company’s stock, valued at $526,325,112.94. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 13.16% of the stock is owned by corporate insiders.

Institutional Trading of Transocean

Large investors have recently added to or reduced their stakes in the business. OLD Point Trust & Financial Services N A bought a new stake in Transocean during the fourth quarter valued at approximately $25,000. VisionPoint Advisory Group LLC bought a new stake in Transocean during the fourth quarter valued at approximately $28,000. Private Trust Co. NA grew its position in Transocean by 1,489.8% during the fourth quarter. Private Trust Co. NA now owns 8,537 shares of the offshore drilling services provider’s stock valued at $54,000 after buying an additional 8,000 shares during the period. Fiducient Advisors LLC bought a new stake in Transocean during the first quarter valued at approximately $63,000. Finally, Fermata Advisors LLC bought a new stake in Transocean during the first quarter valued at approximately $75,000. 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.