Transocean Ltd. (NYSE:RIG) Receives $5.75 Average PT from Brokerages

Shares of Transocean Ltd. (NYSE:RIG) have been assigned an average rating of “Hold” from the ten ratings firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $5.75.

Several brokerages have recently issued reports on RIG. JPMorgan Chase & Co. raised Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 price objective on the stock in a report on Friday, December 6th. Benchmark restated a “hold” rating on shares of Transocean in a report on Tuesday, December 3rd. Barclays dropped their price target on Transocean from $4.50 to $4.00 and set an “overweight” rating for the company in a research report on Tuesday, February 25th. StockNews.com upgraded Transocean to a “sell” rating in a research report on Tuesday, November 12th. Finally, Evercore ISI cut Transocean from an “outperform” rating to an “in-line” rating and dropped their target price for the stock from $6.00 to $5.00 in a report on Wednesday, January 15th.

Insider Activity at Transocean

In related news, EVP Roderick James Mackenzie sold 22,000 shares of the business’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 transaction, the executive vice president now owns 313,072 shares in the company, valued at $1,205,327.20. The trade was a 6.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 13.16% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Transocean

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RIG. Twin Tree Management LP acquired a new stake in Transocean in the 4th quarter worth approximately $27,000. Optiver Holding B.V. increased its holdings in shares of Transocean by 53.6% during 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 in the last quarter. Blue Trust Inc. increased its stake in shares of Transocean by 96.2% in 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 in the last quarter. Adero Partners LLC acquired a new stake in Transocean in the fourth quarter valued at approximately $38,000. Finally, Stratos Wealth Partners LTD. purchased a new position in shares of Transocean during the 4th quarter valued at approximately $40,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Transocean Stock Performance

NYSE:RIG opened at $2.67 on Thursday. The stock has a 50-day moving average price of $3.72 and a 200 day moving average price of $4.11. The company has a current ratio of 1.47, a quick ratio of 1.34 and a debt-to-equity ratio of 0.60. Transocean has a 12-month low of $2.65 and a 12-month high of $6.88. The stock has a market capitalization of $2.35 billion, a P/E ratio of -3.66, a P/E/G ratio of 0.86 and a beta of 2.70.

Transocean (NYSE:RIG) last announced its quarterly earnings results on Monday, February 17th. The offshore drilling services provider reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $952.00 million during the quarter, compared to the consensus estimate of $962.28 million. Equities research analysts forecast that Transocean will post 0.14 EPS for the current fiscal year.

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.