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Equities researchers at Cowen and Company cut their price objective on shares of Transocean LTD (NYSE:RIG) from $46.00 to $43.00 in a research report issued on Friday. The firm currently has an “outperform” rating on the stock. Cowen and Company’s target price indicates a potential upside of 11.20% from the company’s current price.

Shares of Transocean LTD (NYSE:RIG) opened at 38.67 on Friday. Transocean LTD has a 52-week low of $38.01 and a 52-week high of $55.74. The stock’s 50-day moving average is $41.23 and its 200-day moving average is $42.01. The company has a market cap of $14.006 billion and a P/E ratio of 7.73. Transocean LTD also was the target of some unusual options trading activity on Tuesday. Stock traders bought 11,405 call options on the stock. This is an increase of 118% compared to the average daily volume of 5,228 call options.

Transocean LTD (NYSE:RIG) last released its earnings data on Wednesday, August 6th. The company reported $1.61 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.12 by $0.49. The company had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter last year, the company posted $1.08 earnings per share. Transocean LTD’s revenue was down 1.5% compared to the same quarter last year. On average, analysts predict that Transocean LTD will post $4.52 earnings per share for the current fiscal year.

The company also recently declared a dividend, which is scheduled for Wednesday, September 17th. Shareholders of record on Friday, August 22nd will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Wednesday, August 20th.

Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Transocean LTD in a research note on Thursday. They now have a $42.00 price target on the stock. Separately, analysts at RBC Capital cut their price target on shares of Transocean LTD from $45.00 to $42.00 in a research note on Friday, August 8th. Finally, analysts at Jefferies Group cut their price target on shares of Transocean LTD from $41.00 to $40.00 in a research note on Friday, August 8th. Five analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $43.77.

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

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