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Equities research analysts at Goldman Sachs lowered their price target on shares of Transocean LTD (NYSE:RIG) to $29.00 in a research note issued to investors on Friday. Goldman Sachs’ price objective suggests a potential downside of 25.01% from the company’s current price.

Several other analysts have also recently commented on the stock. Analysts at Cowen and Company cut their price target on shares of Transocean LTD from $46.00 to $43.00 in a research note on Friday. They now have an “outperform” rating on the stock. Separately, 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. Finally, 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. Five equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $43.77.

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 price-to-earnings ratio of 7.73. Transocean LTD also saw unusually large options trading activity on Tuesday. Investors acquired 11,405 call options on the company. This is an increase of 118% compared to the average daily volume of 5,228 call options.

Transocean LTD (NYSE:RIG) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $1.61 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $1.08 earnings per share. The company’s quarterly revenue was down 1.5% on a year-over-year basis. Analysts expect that Transocean LTD will post $4.52 EPS for the current fiscal year.

The company also recently declared a dividend, which is scheduled for Wednesday, September 17th. Stockholders 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.

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

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