Share on StockTwits

Transocean LTD (NYSE:RIG) saw a significant increase in short interest during the month of June. As of June 13th, there was short interest totalling 56,295,599 shares, an increase of 7.2% from the May 30th total of 52,538,330 shares, Stock Ratings Network.com reports. Based on an average trading volume of 3,887,777 shares, the days-to-cover ratio is presently 14.5 days. Currently, 16.2% of the shares of the stock are sold short.

A number of research firms have recently commented on RIG. Analysts at Cowen and Company reiterated an “outperform” rating on shares of Transocean LTD in a research note on Monday, June 16th. They now have a $46.00 price target on the stock. Separately, analysts at TheStreet upgraded shares of Transocean LTD from a “hold” rating to a “buy” rating in a research note on Wednesday, June 11th. Finally, analysts at Johnson Rice reiterated an “underweight” rating on shares of Transocean LTD in a research note on Tuesday, June 3rd. Five investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $45.90.

Transocean LTD (NYSE:RIG) opened at 44.34 on Monday. Transocean LTD has a 52-week low of $38.47 and a 52-week high of $55.74. The stock’s 50-day moving average is $43.36 and its 200-day moving average is $43.44. The company has a market cap of $16.051 billion and a P/E ratio of 10.54.

Transocean LTD (NYSE:RIG) last posted its quarterly earnings results 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 $4.30 earnings per share for the current fiscal year.

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.