Transocean Target of Unusually High Options Trading (RIG)
Shares of Transocean (NYSE:RIG) was the target of unusually large options trading activity on Friday. Stock investors purchased 19,541 put options on the stock, Analyst Ratings News reports. This is an increase of approximately 561% compared to the typical daily volume of 2,957 put options.
A number of analysts have recently weighed in on RIG shares. Analysts at ISI Group downgraded shares of Transocean to a “neutral” rating in a research note to investors on Monday. Separately, analysts at UBS AG initiated coverage on shares of Transocean in a research note to investors on Wednesday, January 8th. They set a “neutral” rating and a $54.00 price target on the stock. They noted that the move was a valuation call. Finally, analysts at DNB Markets downgraded shares of Transocean from a “hold” rating to a “sell” rating in a research note to investors on Wednesday, January 8th. They now have a $45.00 price target on the stock, down previously from $50.00. Six analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Transocean has an average rating of “Hold” and a consensus target price of $22,781.08.
Shares of Transocean (NYSE:RIG) traded down 1.08% on Friday, hitting $46.69. The stock had a trading volume of 6,599,459 shares. Transocean has a one year low of $44.19 and a one year high of $59.50. The stock has a 50-day moving average of $48.64 and a 200-day moving average of $48.12. The company has a market cap of $16.836 billion and a P/E ratio of 10.51.
Transocean (NYSE:RIG) last issued its quarterly earnings data on Thursday, November 7th. The company reported $1.37 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.18 by $0.19. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter last year, the company posted $1.37 earnings per share. Transocean’s revenue was up 5.2% compared to the same quarter last year. Analysts expect that Transocean will post $4.17 EPS 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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