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Transocean (NYSE:RIG) was downgraded by equities researchers at EVA Dimensions from an “overweight” rating to a “hold” rating in a research report issued on Thursday, American Banking News reports.

A number of other analysts have also recently weighed in on RIG. Analysts at TheStreet downgraded shares of Transocean from a “buy” rating to a “hold” rating in a research note on Tuesday. Separately, analysts at Cowen and Company cut their price target on shares of Transocean from $60.00 to $52.00 in a research note on Thursday, February 20th. They now have an “outperform” rating on the stock. Finally, analysts at JPMorgan Chase & Co. cut their price target on shares of Transocean from $54.00 to $50.00 in a research note on Wednesday, February 19th. Eight analysts have rated the stock with a sell rating, eighteen have given a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $23,862.47.

Shares of Transocean (NYSE:RIG) traded down 1.66% during mid-day trading on Thursday, hitting $42.2946. 11,068,806 shares of the company’s stock traded hands. Transocean has a 52 week low of $41.44 and a 52 week high of $55.79. The stock has a 50-day moving average of $44.59 and a 200-day moving average of $47.16. The company has a market cap of $15.251 billion and a P/E ratio of 9.58.

Transocean (NYSE:RIG) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.18 by $0.45. The company had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the previous year, the company posted $0.91 earnings per share. The company’s revenue for the quarter was up 38.6% on a year-over-year basis. Analysts expect that Transocean will post $5.03 EPS for the current fiscal year.

The company also recently declared a dividend, which is scheduled for Wednesday, March 19th. Stockholders of record on Friday, February 21st will be given a dividend of $0.56 per share. The ex-dividend date of this dividend 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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