Share on StockTwits

Shares of Transocean LTD (NYSE:RIG) were the target of a large increase in short interest during the month of May. As of May 15th, there was short interest totalling 50,680,758 shares, an increase of 8.3% from the April 30th total of 46,794,142 shares, Stock Ratings Network.com reports. Based on an average daily volume of 5,031,039 shares, the short-interest ratio is currently 10.1 days. Approximately 14.5% of the company’s stock are sold short.

Several analysts have recently commented on the stock. Analysts at Johnson Rice reiterated an “underweight” rating on shares of Transocean LTD in a research note on Tuesday, June 3rd. Separately, analysts at Susquehanna reiterated a “neutral” rating on shares of Transocean LTD in a research note on Monday, May 19th. They now have a $41.00 price target on the stock, down previously from $43.00. Finally, analysts at Barclays cut their price target on shares of Transocean LTD from $45.00 to $42.00 in a research note on Friday, May 16th. They now have an “overweight” rating on the stock. Five investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $21,784.77.

Shares of Transocean LTD (NYSE:RIG) opened at 42.63 on Monday. Transocean LTD has a one year low of $38.47 and a one year high of $55.74. The stock has a 50-day moving average of $42.20 and a 200-day moving average of $44.31. The company has a market cap of $15.432 billion and a P/E ratio of 9.97.

Transocean LTD (NYSE:RIG) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.43 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.03 by $0.40. The company had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter last year, the company posted $0.93 earnings per share. Transocean LTD’s revenue was up 7.1% compared to the same quarter last year. On average, analysts predict that Transocean LTD will post $4.32 earnings per share for the current fiscal year.

The company also recently announced a dividend, which is scheduled for Wednesday, June 18th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.75 per share. The ex-dividend date is Wednesday, May 28th.

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

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.