Transocean (RIG) Projected to Post Quarterly Earnings on Monday

Transocean (NYSE:RIG) is projected to issue its quarterly earnings data after the market closes on Monday, February 17th. Analysts expect the company to announce earnings of $0.02 per share and revenue of $962.28 million for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

Transocean Trading Down 2.6 %

NYSE RIG opened at $3.54 on Friday. Transocean has a 12 month low of $3.40 and a 12 month high of $6.88. The firm has a market capitalization of $3.10 billion, a P/E ratio of -4.71, a PEG ratio of 0.75 and a beta of 2.70. The business has a fifty day simple moving average of $3.84 and a 200 day simple moving average of $4.28. The company has a current ratio of 1.64, a quick ratio of 1.34 and a debt-to-equity ratio of 0.64.

Analyst Ratings Changes

RIG has been the subject of several research analyst reports. Susquehanna decreased their target price on Transocean from $7.00 to $6.50 and set a “positive” rating for the company in a research report on Friday, November 1st. JPMorgan Chase & Co. raised Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 target price for the company in a research report on Friday, December 6th. TD Cowen cut 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 downgraded Transocean from an “outperform” rating to an “in-line” rating and cut their price target for the stock from $6.00 to $5.00 in a research note on Wednesday, January 15th. Finally, StockNews.com upgraded Transocean to a “sell” rating in a research note on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $5.94.

Insiders Place Their Bets

In other 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 completion of the sale, the executive vice president now owns 313,072 shares in the company, valued at approximately $1,205,327.20. This trade represents a 6.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 64,000 shares of company stock worth $259,600 in the last quarter. 13.16% of the stock is owned by company insiders.

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.