Transocean Ltd. (NYSE:RIG) was downgraded by equities researchers at TheStreet from a “c-” rating to a “d” rating in a report issued on Friday, November 3rd.
RIG has been the subject of a number of other research reports. Jefferies Group LLC set a $9.00 price objective on Transocean and gave the company a “hold” rating in a research report on Wednesday, August 16th. Sanford C. Bernstein lowered Transocean from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $16.50 to $9.00 in a research report on Thursday, July 6th. Royal Bank Of Canada raised Transocean from an “underperform” rating to a “sector perform” rating and set a $11.00 price objective for the company in a research report on Friday, August 25th. R. F. Lafferty set a $15.00 price objective on Transocean and gave the company a “buy” rating in a research report on Saturday, August 26th. Finally, Capital One Financial Corporation upgraded Transocean from an “equal weight” rating to an “overweight” rating and set a $12.00 target price on the stock in a research note on Thursday, August 31st. Ten equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and fifteen have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $12.31.
Transocean (NYSE RIG) traded down $0.24 on Friday, hitting $10.47. The stock had a trading volume of 13,071,900 shares, compared to its average volume of 14,110,390. The stock has a market cap of $4,000.00, a PE ratio of 13.39 and a beta of 1.81. Transocean has a 1 year low of $7.20 and a 1 year high of $16.66. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.36 and a quick ratio of 2.13.
Transocean (NYSE:RIG) last released its quarterly earnings results on Wednesday, November 1st. The offshore drilling services provider reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.20. The business had revenue of $808.00 million during the quarter, compared to analyst estimates of $703.13 million. Transocean had a positive return on equity of 2.10% and a negative net margin of 84.09%. Transocean’s quarterly revenue was down 10.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.25 EPS. research analysts expect that Transocean will post -0.34 EPS for the current fiscal year.
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Several hedge funds have recently bought and sold shares of RIG. Contrarius Investment Management Ltd boosted its stake in shares of Transocean by 96.8% during the 2nd quarter. Contrarius Investment Management Ltd now owns 9,740,030 shares of the offshore drilling services provider’s stock worth $80,160,000 after acquiring an additional 4,790,469 shares in the last quarter. Thompson Siegel & Walmsley LLC boosted its stake in shares of Transocean by 129.6% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 6,299,461 shares of the offshore drilling services provider’s stock worth $51,844,000 after acquiring an additional 3,556,281 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Transocean by 12.1% during the 2nd quarter. BlackRock Inc. now owns 25,538,929 shares of the offshore drilling services provider’s stock worth $210,185,000 after acquiring an additional 2,756,207 shares in the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of Transocean during the 3rd quarter worth about $26,661,000. Finally, Principal Financial Group Inc. boosted its stake in shares of Transocean by 310.7% during the 3rd quarter. Principal Financial Group Inc. now owns 2,536,811 shares of the offshore drilling services provider’s stock worth $27,296,000 after acquiring an additional 1,919,171 shares in the last quarter. 70.31% of the stock is currently owned by institutional investors and hedge funds.
Transocean Company Profile
Transocean Ltd. is an international provider of offshore contract drilling services for oil and gas wells. The Company’s primary business is to contract its drilling rigs, related equipment and work crews on a dayrate basis to drill oil and gas wells. As of February 9, 2017, it owned or had partial ownership interests in and operated 56 mobile offshore drilling units.
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