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Transocean LTD (NYSE: RIG) was the recipient of a ratings changes during the seven days:

  • Transocean LTD had its “neutral” rating reaffirmed by analysts at Zacks. They now have a $42.00 price target on the stock. Zacks‘ analyst wrote, “We are maintaining our Neutral recommendation on Transocean shares, despite high debt. The company recently reported strong second quarter earnings on higher dayrates and reduced operating and maintenance costs. Moreover, Transocean expects a significantly lower operating cost in 2014 relative to the prior two years that is expected to drive its bottom line to a great extent. Transocean also has a technologically advanced and versatile offshore drilling fleet, strong backlog and considerable pricing power. Nevertheless, we expect Transocean shares to remain soft until it fully works its way through claims related to the BP oil spill. “
  • Transocean LTD had its price target lowered by analysts at Goldman Sachs to $29.00.
  • Transocean LTD had its price target lowered by analysts at Cowen and Company from $46.00 to $43.00. They now have an “outperform” rating on the stock.
  • Transocean LTD had its price target lowered by analysts at Susquehanna from $37.00 to $34.00.

Shares of Transocean LTD (NYSE:RIG) opened at 38.52 on Wednesday. Transocean LTD has a 1-year low of $37.33 and a 1-year high of $55.74. The stock’s 50-day moving average is $40.80 and its 200-day moving average is $41.92. The company has a market cap of $13.952 billion and a price-to-earnings ratio of 7.49. Transocean LTD also was the recipient of unusually large options trading on Tuesday. Traders purchased 27,901 put options on the stock. This is an increase of approximately 205% compared to the average daily volume of 9,138 put options.

Transocean LTD (NYSE:RIG) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $1.61 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $1.08 earnings per share. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. Analysts expect that Transocean LTD will post $4.58 EPS 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 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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