Transocean Ltd. (NYSE:RIG) Receives Average Rating of “Hold” from Brokerages

Shares of Transocean Ltd. (NYSE:RIG) have been assigned a consensus rating of “Hold” from the eleven ratings firms that are presently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, four have given a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $6.6786.

A number of research analysts have weighed in on the company. Morgan Stanley lifted their target price on Transocean from $5.00 to $7.00 and gave the company an “equal weight” rating in a report on Wednesday, April 15th. Barclays cut their price objective on shares of Transocean from $8.00 to $7.00 and set an “overweight” rating for the company in a research report on Wednesday. TD Cowen boosted their price objective on shares of Transocean from $5.50 to $6.00 and gave the company a “hold” rating in a research note on Wednesday, May 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Transocean in a report on Friday, July 17th. Finally, Fearnley Fonds upgraded shares of Transocean from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th.

Insider Buying and Selling at Transocean

In other news, Director Chad C. Deaton purchased 35,000 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The shares were purchased at an average price of $4.95 per share, with a total value of $173,250.00. Following the completion of 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 position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 9.70% of the company’s stock.

Hedge Funds Weigh In On Transocean

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Transocean by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 97,006,263 shares of the offshore drilling services provider’s stock valued at $400,636,000 after acquiring an additional 2,487,015 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Transocean by 12.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 48,819,576 shares of the offshore drilling services provider’s stock valued at $323,682,000 after acquiring an additional 5,349,264 shares during the last quarter. Dalal Street LLC grew its holdings in shares of Transocean by 10.6% during the fourth quarter. Dalal Street LLC now owns 27,040,133 shares of the offshore drilling services provider’s stock worth $111,676,000 after purchasing an additional 2,597,801 shares in the last quarter. Morgan Stanley increased its position in shares of Transocean by 9.4% in the fourth quarter. Morgan Stanley now owns 24,790,325 shares of the offshore drilling services provider’s stock worth $102,384,000 after purchasing an additional 2,135,964 shares during the last quarter. Finally, State Street Corp increased its position in shares of Transocean by 13.1% in the fourth quarter. State Street Corp now owns 24,725,897 shares of the offshore drilling services provider’s stock worth $102,118,000 after purchasing an additional 2,856,372 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Transocean Price Performance

Transocean stock opened at $5.71 on Thursday. The firm has a market capitalization of $6.38 billion, a P/E ratio of -3.04, a PEG ratio of 3.74 and a beta of 1.32. Transocean has a one year low of $2.76 and a one year high of $7.66. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.59 and a quick ratio of 1.27. The business has a fifty day moving average price of $5.35 and a 200-day moving average price of $5.94.

Transocean (NYSE:RIG) last released its quarterly earnings data on Wednesday, August 5th. The offshore drilling services provider reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. The company had revenue of $966.00 million for the quarter, compared to analyst estimates of $956.64 million. Transocean had a positive return on equity of 2.60% and a negative net margin of 40.24%.The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.06) EPS. As a group, equities research analysts forecast that Transocean will post 0.14 EPS for the current year.

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.