Transocean Ltd. (NYSE:RIG)‘s stock had its “market perform” rating reaffirmed by stock analysts at Wells Fargo & Company in a research note issued on Saturday.

Other analysts have also recently issued reports about the stock. R. F. Lafferty reduced their target price on shares of Transocean from $21.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, May 15th. B. Riley reduced their target price on shares of Transocean from $21.00 to $16.00 and set a “buy” rating for the company in a research note on Tuesday, May 9th. Credit Suisse Group AG set a $18.00 target price on shares of Transocean and gave the company a “buy” rating in a research note on Thursday, April 20th. Deutsche Bank AG reduced their target price on shares of Transocean from $8.00 to $7.00 and set a “hold” rating for the company in a research note on Tuesday, April 18th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $14.00 target price (up from $13.00) on shares of Transocean in a research note on Tuesday, April 11th. Fifteen equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the company’s stock. Transocean has a consensus rating of “Hold” and a consensus price target of $12.86.

Transocean (NYSE RIG) traded down 2.74% during midday trading on Friday, hitting $8.51. 13,180,894 shares of the stock traded hands. The firm has a market cap of $3.33 billion, a P/E ratio of 5.12 and a beta of 1.67. Transocean has a 1-year low of $7.67 and a 1-year high of $16.66. The company has a 50-day moving average price of $8.45 and a 200-day moving average price of $11.62.

Transocean (NYSE:RIG) last posted its earnings results on Wednesday, May 3rd. The offshore drilling services provider reported $0.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.09. The firm had revenue of $785 million during the quarter, compared to analysts’ expectations of $737.51 million. Transocean had a net margin of 17.28% and a return on equity of 2.57%. Analysts predict that Transocean will post ($0.43) EPS for the current year.

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In other news, SVP David A. Tonnel sold 9,450 shares of the business’s stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $11.28, for a total value of $106,596.00. Following the sale, the senior vice president now owns 54,845 shares in the company, valued at approximately $618,651.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of RIG. Prospera Financial Services Inc increased its stake in shares of Transocean by 13.2% in the second quarter. Prospera Financial Services Inc now owns 20,952 shares of the offshore drilling services provider’s stock valued at $170,000 after buying an additional 2,450 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Transocean by 1.7% in the second quarter. Louisiana State Employees Retirement System now owns 24,300 shares of the offshore drilling services provider’s stock valued at $200,000 after buying an additional 400 shares in the last quarter. Foundation Resource Management Inc. increased its stake in shares of Transocean by 0.5% in the second quarter. Foundation Resource Management Inc. now owns 229,263 shares of the offshore drilling services provider’s stock valued at $1,887,000 after buying an additional 1,084 shares in the last quarter. LS Investment Advisors LLC increased its stake in shares of Transocean by 46.5% in the second quarter. LS Investment Advisors LLC now owns 23,656 shares of the offshore drilling services provider’s stock valued at $195,000 after buying an additional 7,505 shares in the last quarter. Finally, Exane Derivatives increased its stake in shares of Transocean by 12.2% in the second quarter. Exane Derivatives now owns 48,860 shares of the offshore drilling services provider’s stock valued at $402,000 after buying an additional 5,325 shares in the last quarter. Institutional investors own 67.52% of the company’s stock.

Transocean Company Profile

Transocean Ltd. is an international provider of offshore contract drilling services for oil and gas wells. The Company’s primary business is to contract its drilling rigs, related equipment and work crews on a dayrate basis to drill oil and gas wells. As of February 9, 2017, it owned or had partial ownership interests in and operated 56 mobile offshore drilling units.

Analyst Recommendations for Transocean (NYSE:RIG)

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