Transocean (NYSE:RIG) Upgraded to “Sell” by StockNews.com

StockNews.com upgraded shares of Transocean (NYSE:RIG) to a sell rating in a research report report published on Monday.

Other equities research analysts also recently issued reports about the stock. Bank of America boosted their target price on shares of Transocean from $5.50 to $6.00 and gave the stock an underperform rating in a research report on Monday, April 15th. Susquehanna upgraded shares of Transocean from a neutral rating to a positive rating and boosted their price target for the stock from $5.50 to $9.00 in a report on Monday, April 8th. Evercore ISI cut their price target on shares of Transocean from $9.00 to $7.00 and set an outperform rating on the stock in a report on Wednesday, May 1st. Finally, Benchmark restated a buy rating and set a $8.00 price target on shares of Transocean in a report on Friday. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $7.22.

Transocean Stock Up 0.9 %

Shares of NYSE:RIG traded up $0.04 during midday trading on Monday, hitting $5.06. 20,642,974 shares of the company’s stock were exchanged, compared to its average volume of 18,131,852. The company has a current ratio of 1.36, a quick ratio of 1.04 and a debt-to-equity ratio of 0.63. The stock has a 50 day moving average price of $5.41 and a 200-day moving average price of $5.56. Transocean has a 12 month low of $4.45 and a 12 month high of $8.88.

Transocean (NYSE:RIG) last posted its earnings results on Wednesday, July 31st. The offshore drilling services provider reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.07). The business had revenue of $861.00 million for the quarter, compared to the consensus estimate of $862.25 million. Transocean had a negative return on equity of 4.76% and a negative net margin of 11.34%. The company’s revenue was up 18.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.15) earnings per share. Analysts anticipate that Transocean will post -0.04 EPS for the current year.

Insider Buying and Selling at Transocean

In related news, Director (Cyprus) Ltd Perestroika bought 2,000,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were purchased at an average cost of $6.01 per share, for a total transaction of $12,020,000.00. Following the completion of the purchase, the director now directly owns 87,574,894 shares in the company, valued at $526,325,112.94. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 13.16% of the company’s stock.

Institutional Trading of Transocean

Institutional investors have recently modified their holdings of the business. OLD Point Trust & Financial Services N A purchased a new stake in shares of Transocean during the 4th quarter valued at approximately $25,000. VisionPoint Advisory Group LLC bought a new stake in Transocean during the 4th quarter worth approximately $28,000. Nisa Investment Advisors LLC bought a new stake in Transocean during the 2nd quarter worth approximately $30,000. Private Trust Co. NA increased its holdings in Transocean by 1,489.8% during the 4th quarter. Private Trust Co. NA now owns 8,537 shares of the offshore drilling services provider’s stock worth $54,000 after acquiring an additional 8,000 shares during the period. Finally, Fiducient Advisors LLC bought a new stake in Transocean during the 1st quarter worth approximately $63,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

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.