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Transocean (NYSE:RIG) was downgraded by equities researchers at ISI Group to a “neutral” rating in a research report issued on Monday, TheFlyOnTheWall.com reports.

Shares of Transocean (NYSE:RIG) opened at 46.69 on Monday. 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 $48.58 and a 200-day moving average of $48.1. The company has a market cap of $16.836 billion and a P/E ratio of 10.51. Transocean also saw some unusual options trading on Friday. Traders purchased 19,541 put options on the company. This is an increase of approximately 561% compared to the average volume of 2,957 put options.

Transocean (NYSE:RIG) last posted its quarterly earnings results 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.

Other equities research analysts have also recently issued reports about the stock. 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. Separately, 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. Finally, analysts at RBC Capital downgraded shares of Transocean from an “outperform” rating to a “sector perform” rating in a research note to investors on Wednesday, January 8th. They now have a $54.00 price target on the stock, down previously from $56.00. Six investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $22,781.08.

Transocean Ltd. (NYSE:RIG) is an international provider of offshore contract drilling services for oil and gas wells.

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