ValuEngine Upgrades Transocean Ltd. (RIG) to “Buy”

Transocean Ltd. (NYSE:RIG) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Thursday, November 2nd.

A number of other brokerages have also recently weighed in on RIG. Piper Jaffray Companies restated a “hold” rating and issued a $7.35 price objective on shares of Transocean in a research note on Sunday, October 22nd. Cowen and Company set a $8.00 price objective on shares of Transocean and gave the stock a “hold” rating in a research note on Wednesday, October 18th. started coverage on shares of Transocean in a research note on Thursday, October 19th. They issued a “hold” rating and a $12.00 price objective for the company. BMO Capital Markets set a $7.00 price objective on shares of Transocean and gave the stock a “sell” rating in a research note on Wednesday, October 18th. Finally, Zacks Investment Research cut shares of Transocean from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Ten investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have given a buy rating to the company’s stock. Transocean currently has an average rating of “Hold” and an average price target of $12.31.

Transocean (NYSE:RIG) opened at $10.18 on Thursday. Transocean has a 1 year low of $7.20 and a 1 year high of $16.66. The firm has a market cap of $3,980.00, a P/E ratio of 12.94 and a beta of 1.81. The company has a quick ratio of 2.13, a current ratio of 2.36 and a debt-to-equity ratio of 0.51.

Transocean (NYSE:RIG) last announced its quarterly earnings data on Wednesday, November 1st. The offshore drilling services provider reported $0.16 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.20. Transocean had a negative net margin of 84.09% and a positive return on equity of 2.10%. The firm had revenue of $808.00 million for the quarter, compared to the consensus estimate of $703.13 million. During the same period in the previous year, the firm posted $0.25 earnings per share. The firm’s revenue was down 10.8% on a year-over-year basis. research analysts predict that Transocean will post -0.32 EPS for the current year.

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Several large investors have recently added to or reduced their stakes in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Transocean by 0.6% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 29,052 shares of the offshore drilling services provider’s stock valued at $239,000 after buying an additional 175 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in Transocean by 0.5% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 49,298 shares of the offshore drilling services provider’s stock worth $406,000 after purchasing an additional 226 shares during the period. Thrivent Financial For Lutherans boosted its position in Transocean by 2.4% during the second quarter. Thrivent Financial For Lutherans now owns 14,840 shares of the offshore drilling services provider’s stock worth $122,000 after purchasing an additional 350 shares during the period. Louisiana State Employees Retirement System boosted its position in Transocean by 1.7% during the second quarter. Louisiana State Employees Retirement System now owns 24,300 shares of the offshore drilling services provider’s stock worth $200,000 after purchasing an additional 400 shares during the period. Finally, Stifel Financial Corp boosted its position in Transocean by 0.5% during the second quarter. Stifel Financial Corp now owns 81,518 shares of the offshore drilling services provider’s stock worth $664,000 after purchasing an additional 410 shares during the period. 70.60% of the stock is owned by institutional investors and hedge funds.

About Transocean

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Transocean (NYSE:RIG)

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