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

Shares of Transocean Ltd. (NYSE:RIG) have earned a consensus recommendation of “Hold” from the ten brokerages that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $5.03.

Several equities research analysts have issued reports on RIG shares. TD Cowen lowered their price target on shares of Transocean from $6.50 to $5.50 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Barclays dropped their target price on Transocean from $4.50 to $4.00 and set an “overweight” rating on the stock in a report on Tuesday, February 25th. Morgan Stanley decreased their price target on Transocean from $5.00 to $4.00 and set an “equal weight” rating for the company in a research note on Thursday. Benchmark reiterated a “hold” rating on shares of Transocean in a research note on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. raised Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 price objective for the company in a report on Friday, December 6th.

Transocean Stock Down 3.2 %

NYSE:RIG opened at $3.20 on Monday. The company has a market cap of $2.82 billion, a PE ratio of -4.38, a PEG ratio of 0.86 and a beta of 2.72. The stock has a 50-day simple moving average of $3.40 and a 200 day simple moving average of $3.90. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.34 and a current ratio of 1.47. Transocean has a 52-week low of $2.55 and a 52-week high of $6.88.

Transocean (NYSE:RIG) last issued 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). The business had revenue of $952.00 million for the quarter, compared to the consensus estimate of $962.28 million. Transocean had a negative return on equity of 0.52% and a negative net margin of 14.53%. On average, sell-side analysts expect that Transocean will post 0.14 EPS for the current fiscal year.

Insider Activity at Transocean

In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were 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 directly owns 313,072 shares in the company, valued at $1,205,327.20. This trade represents a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 13.16% of the stock is owned by company insiders.

Hedge Funds Weigh In On Transocean

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Transocean by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 78,811,863 shares of the offshore drilling services provider’s stock valued at $295,544,000 after buying an additional 931,684 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Transocean by 2.1% in the fourth 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 acquiring an additional 809,864 shares in the last quarter. State Street Corp grew its stake in shares of 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 in the last quarter. American Century Companies Inc. increased its position in Transocean by 51.5% during the fourth quarter. American Century Companies Inc. now owns 19,257,437 shares of the offshore drilling services provider’s stock worth $72,215,000 after acquiring an additional 6,542,271 shares during the period. Finally, Pilgrim Global Advisors LLC acquired a new stake in Transocean in the 3rd quarter worth about $77,473,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

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.