Traders Buy Large Volume of Put Options on Transocean LTD (RIG)
Shares of Transocean LTD (NYSE:RIG) were the recipient of unusually large options trading on Tuesday. Stock investors bought 27,901 put options on the company, AR Network reports. This represents an increase of approximately 205% compared to the average volume of 9,138 put options.
A number of analysts have recently weighed in on RIG shares. Analysts at Susquehanna cut their price target on shares of Transocean LTD from $37.00 to $34.00 in a research note on Monday. Separately, analysts at Goldman Sachs cut their price target on shares of Transocean LTD to $29.00 in a research note on Friday. Finally, 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. Five research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $43.64.
Transocean LTD (NYSE:RIG) traded up 2.77% during mid-day trading on Tuesday, hitting $38.52. The stock had a trading volume of 8,737,850 shares. Transocean LTD has a one year low of $37.33 and a one year high of $55.74. The stock has a 50-day moving average of $40.95 and a 200-day moving average of $41.95. The company has a market cap of $13.952 billion and a P/E ratio of 7.49.
Transocean LTD (NYSE:RIG) last announced its earnings results 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. On average, analysts predict that Transocean LTD will post $4.58 earnings per share for the current fiscal year.
The company also recently announced a dividend, which is scheduled for Wednesday, September 17th. Shareholders of record on Friday, August 22nd will be paid 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.
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.