Transocean Ltd. (NYSE:RIG) Receives Average Recommendation of “Hold” from Analysts

Transocean Ltd. (NYSE:RIG) has received a consensus rating of “Hold” from the ten ratings firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $5.03.

A number of equities research analysts recently commented on the company. TD Cowen decreased their price target on Transocean from $6.50 to $5.50 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Morgan Stanley decreased their target price on Transocean from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Thursday. Barclays cut their price target on Transocean from $4.50 to $4.00 and set an “overweight” rating for the company in a report on Tuesday, February 25th. Evercore ISI lowered shares of Transocean from an “outperform” rating to an “in-line” rating and decreased their price objective for the stock from $6.00 to $5.00 in a report on Wednesday, January 15th. Finally, JPMorgan Chase & Co. raised shares of Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 target price for the company in a research note on Friday, December 6th.

Insider Buying and Selling at Transocean

In other news, EVP Roderick James Mackenzie sold 22,000 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $4.05, for a total transaction of $89,100.00. Following the completion of the transaction, the executive vice president now directly owns 229,596 shares in the company, valued at approximately $929,863.80. The trade was a 8.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 13.16% of the company’s stock.

Institutional Trading of Transocean

A number of hedge funds have recently modified their holdings of RIG. Atria Investments Inc acquired a new stake in Transocean in the third quarter worth $51,000. Intech Investment Management LLC acquired a new stake in Transocean during the 3rd quarter worth $670,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Transocean by 7.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,606,320 shares of the offshore drilling services provider’s stock valued at $49,327,000 after purchasing an additional 826,229 shares in the last quarter. Cerity Partners LLC lifted its stake in Transocean by 20.4% in the third quarter. Cerity Partners LLC now owns 99,114 shares of the offshore drilling services provider’s stock valued at $421,000 after buying an additional 16,812 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Transocean by 334.2% in the third quarter. The Manufacturers Life Insurance Company now owns 1,660,176 shares of the offshore drilling services provider’s stock valued at $7,056,000 after buying an additional 1,277,814 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Transocean Stock Performance

Transocean stock opened at $3.20 on Monday. The firm has a market capitalization of $2.82 billion, a P/E ratio of -4.38, a P/E/G ratio of 0.86 and a beta of 2.72. The stock has a fifty day moving average price of $3.40 and a two-hundred day moving average price of $3.90. Transocean has a 52-week low of $2.55 and a 52-week high of $6.88. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.47 and a quick ratio of 1.34.

Transocean (NYSE:RIG) last announced its 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). The firm had revenue of $952.00 million for the quarter, compared to analyst estimates of $962.28 million. Transocean had a negative return on equity of 0.52% and a negative net margin of 14.53%. As a group, analysts anticipate that Transocean will post 0.14 EPS for the current fiscal year.

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.