Analysts Set Transocean Ltd. (NYSE:RIG) PT at $6.82

Transocean Ltd. (NYSE:RIG) has been assigned an average recommendation of “Hold” from the eleven research firms that are currently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $6.8214.

A number of equities research analysts have recently weighed in on RIG shares. Susquehanna cut their price target on Transocean from $8.00 to $7.00 and set a “positive” rating for the company in a research note on Wednesday, July 8th. Morgan Stanley boosted their price target on Transocean from $5.00 to $7.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 15th. TD Cowen increased their price objective on Transocean from $5.50 to $6.00 and gave the stock a “hold” rating in a report on Wednesday, May 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Transocean in a research note on Tuesday, April 21st. Finally, Barclays raised shares of Transocean from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $6.00 to $8.00 in a research report on Thursday, May 7th.

Transocean Trading Up 0.3%

NYSE RIG opened at $5.13 on Friday. Transocean has a 1-year low of $2.59 and a 1-year high of $7.66. The company has a current ratio of 1.54, a quick ratio of 1.20 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $5.73 billion, a PE ratio of -1.72, a price-to-earnings-growth ratio of 3.01 and a beta of 1.30. The firm’s fifty day simple moving average is $5.85 and its 200-day simple moving average is $5.80.

Transocean (NYSE:RIG) last released its quarterly earnings data on Monday, May 4th. The offshore drilling services provider reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.10). Transocean had a negative net margin of 66.79% and a positive return on equity of 0.88%. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the business posted ($0.10) EPS. Transocean’s revenue for the quarter was up 19.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Transocean will post 0.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Transocean

In related news, Director Chad C. Deaton bought 35,000 shares of Transocean stock in a transaction that occurred on Thursday, July 2nd. The stock was purchased at an average cost of $4.95 per share, for a total transaction of $173,250.00. Following the acquisition, the director owned 237,421 shares in the company, valued at $1,175,233.95. This trade represents a 17.29% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 9.70% of the company’s stock.

Institutional Trading of Transocean

A number of institutional investors and hedge funds have recently modified their holdings of RIG. TD Waterhouse Canada Inc. grew its stake in Transocean by 22,432.1% in the 4th quarter. TD Waterhouse Canada Inc. now owns 6,309 shares of the offshore drilling services provider’s stock valued at $26,000 after buying an additional 6,281 shares during the last quarter. Josh Arnold Investment Consultant LLC acquired a new position in Transocean during the 2nd quarter worth $26,000. Flagship Harbor Advisors LLC acquired a new position in Transocean during the 4th quarter worth $27,000. Elevation Point Wealth Partners LLC bought a new stake in Transocean during the third quarter valued at about $31,000. Finally, Larson Financial Group LLC grew its position in shares of Transocean by 203.8% in the third quarter. Larson Financial Group LLC now owns 11,030 shares of the offshore drilling services provider’s stock valued at $34,000 after purchasing an additional 7,399 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Transocean Company Profile

Transocean Ltd. is a leading international provider of offshore contract drilling services for the oil and gas industry. The company specializes in the operation of mobile drilling units, including ultra-deepwater drillships, semisubmersible rigs and high-specification jackup rigs. Transocean’s fleet is designed to meet complex drilling requirements, from ultra-deepwater well construction to shelf exploration and development projects.

The company’s core services encompass the full spectrum of offshore drilling operations, including project and engineering management, marine operations, drilling supervision, and maintenance support.