Brokerages Set Transocean Ltd. (NYSE:RIG) PT at $5.23

Shares of Transocean Ltd. (NYSE:RIG) have earned a consensus rating of “Hold” from the ten brokerages that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $5.23.

Several equities research analysts have issued reports on the company. Barclays dropped their price objective on Transocean from $4.50 to $4.00 and set an “overweight” rating on the stock in a report on Tuesday, February 25th. Evercore ISI cut shares of Transocean from an “outperform” rating to an “in-line” rating and cut their price target for the company from $6.00 to $5.00 in a report on Wednesday, January 15th. SEB Equity Research set a $2.80 price objective on shares of Transocean in a report on Wednesday, March 5th. Benchmark reissued a “hold” rating on shares of Transocean in a research report on Tuesday, December 3rd. Finally, TD Cowen reduced their price target on shares of Transocean from $6.50 to $5.50 and set a “hold” rating on the stock in a research report on Wednesday, January 8th.

Transocean Price Performance

RIG opened at $3.22 on Monday. Transocean has a twelve month low of $2.55 and a twelve month high of $6.88. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of -4.40, a PEG ratio of 0.86 and a beta of 2.72. 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 company has a fifty day simple moving average of $3.44 and a 200 day simple moving average of $3.91.

Transocean (NYSE:RIG) last announced its 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. Equities research analysts expect that Transocean will post 0.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other 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 completion of the transaction, the executive vice president now directly owns 313,072 shares of the company’s stock, valued at approximately $1,205,327.20. This represents a 6.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.16% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Twin Tree Management LP bought a new stake in Transocean in the fourth quarter valued at $27,000. Optiver Holding B.V. lifted its position in Transocean by 53.6% in the 4th quarter. Optiver Holding B.V. now owns 8,400 shares of the offshore drilling services provider’s stock valued at $32,000 after purchasing an additional 2,933 shares during the last quarter. Blue Trust Inc. boosted its stake in Transocean by 96.2% during the 4th quarter. Blue Trust Inc. now owns 9,841 shares of the offshore drilling services provider’s stock valued at $37,000 after purchasing an additional 4,826 shares during the period. Adero Partners LLC bought a new position in Transocean in the 4th quarter worth about $38,000. Finally, Stratos Wealth Partners LTD. acquired a new stake in shares of Transocean in the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds 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.