Transocean Sees Unusually High Options Volume (RIG)
Transocean (NYSE:RIG) was the target of some unusual options trading on Tuesday. Stock traders purchased 34,627 call options on the company, American Banking and Market News reports. This is an increase of 860% compared to the typical volume of 3,607 call options.
A number of research firms have recently commented on RIG. Analysts at JPMorgan Chase & Co. raised their price target on shares of Transocean from $50.00 to $52.00 in a research note to investors on Monday. They now have a “neutral” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Transocean in a research note to investors on Thursday, October 17th. They now have a $47.00 price target on the stock. Finally, analysts at RBC Capital cut their price target on shares of Transocean from $57.00 to $55.00 in a research note to investors on Thursday, October 17th. They now have an “outperform” rating on the stock. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $25,052.05.
Transocean (NYSE:RIG) opened at 49.35 on Wednesday. Transocean has a 1-year low of $43.65 and a 1-year high of $59.50. The stock’s 50-day moving average is $46.9 and its 200-day moving average is $49.96. The company has a market cap of $17.786 billion and a price-to-earnings ratio of 25.49.
Transocean (NYSE:RIG) last announced its earnings results on Wednesday, August 7th. The company reported $1.08 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $1.08. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the prior year, the company posted $0.72 earnings per share. The company’s quarterly revenue was up 2.9% on a year-over-year basis. On average, analysts predict that Transocean will post $3.97 earnings per share for the current fiscal year.
Transocean Ltd. (NYSE:RIG) is an international provider of offshore contract drilling services for oil and gas wells.
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