JPMorgan Chase & Co. Lowers Transocean Price Target to $50.00 (RIG)
Investment analysts at JPMorgan Chase & Co. lowered their price target on shares of Transocean (NYSE:RIG) from $54.00 to $50.00 in a note issued to investors on Wednesday, Analyst Ratings News reports. JPMorgan Chase & Co.’s price objective suggests a potential upside of 16.28% from the company’s current price.
RIG has been the subject of a number of other recent research reports. Analysts at Simmons downgraded shares of Transocean from an “overweight” rating to an “underweight” rating in a research note on Wednesday, January 29th. Separately, analysts at Wells Fargo & Co. downgraded shares of Transocean from an “outperform” rating to a “market perform” rating in a research note on Friday, January 24th. Finally, analysts at Clarkson Capital downgraded shares of Transocean from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 23rd. Eight investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $22,780.90.
Shares of Transocean (NYSE:RIG) opened at 42.44 on Wednesday. Transocean has a 52 week low of $41.44 and a 52 week high of $56.21. The stock’s 50-day moving average is $45.51 and its 200-day moving average is $47.38. The company has a market cap of $15.303 billion and a P/E ratio of 9.60.
The company also recently announced a dividend, which is scheduled for Wednesday, March 19th. Investors of record on Friday, February 21st will be paid a dividend of $0.56 per share. The ex-dividend date is Wednesday, February 19th.
Transocean Ltd. (NYSE:RIG) is an international provider of offshore contract drilling services for oil and gas wells.
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