Traders Buy Large Volume of Call Options on Transocean LTD (RIG)
Shares of Transocean LTD (NYSE:RIG) were the target of some unusual options trading activity on Monday. Stock investors purchased 7,368 call options on the company, AnalystRatingsNetwork reports. This represents an increase of approximately 205% compared to the average volume of 2,414 call options.
Several analysts have recently commented on the stock. Analysts at Deutsche Bank downgraded shares of Transocean LTD from a “hold” rating to a “sell” rating in a research note on Monday. They now have a $27.00 price target on the stock, down previously from $45.00. Separately, analysts at Susquehanna cut their price target on shares of Transocean LTD from $38.00 to $37.00 in a research note on Tuesday, July 15th. Finally, analysts at BMO Capital Markets upgraded shares of Transocean LTD from an “underperform” rating to a “market perform” rating in a research note on Tuesday, July 15th. They now have a $43.00 price target on the stock, up previously from $34.00. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company. Transocean LTD currently has a consensus rating of “Hold” and a consensus target price of $44.43.
Shares of Transocean LTD (NYSE:RIG) traded down 2.35% on Monday, hitting $39.49. 9,404,888 shares of the company’s stock traded hands. Transocean LTD has a 52 week low of $38.47 and a 52 week high of $55.74. The stock has a 50-day moving average of $43.60 and a 200-day moving average of $42.. The company has a market cap of $14.295 billion and a P/E ratio of 9.53.
Transocean LTD (NYSE:RIG) last announced its earnings results on Wednesday, May 7th. The company reported $1.43 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.93 earnings per share. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, analysts predict that Transocean LTD will post $4.26 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.
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