Transocean Ltd. (RIG) Given a $9.00 Price Target by Jefferies Group LLC Analysts
Transocean Ltd. (NYSE:RIG) received a $9.00 price target from equities researchers at Jefferies Group LLC in a research report issued on Wednesday. The brokerage presently has a “hold” rating on the offshore drilling services provider’s stock. Jefferies Group LLC’s price objective suggests a potential upside of 20.32% from the stock’s current price. Jefferies Group also issued estimates for Transocean’s Q3 2017 earnings at $0.03 EPS, Q4 2017 earnings at ($0.19) EPS, FY2017 earnings at ($0.35) EPS, FY2018 earnings at ($0.80) EPS, FY2018 earnings at ($0.45) EPS, FY2019 earnings at ($0.55) EPS and FY2021 earnings at ($0.60) EPS.
Other equities analysts have also issued research reports about the company. Royal Bank Of Canada reissued a “sell” rating and set a $13.00 target price on shares of Transocean in a research note on Monday, May 15th. UBS AG reissued a “neutral” rating and set a $12.00 target price (down previously from $15.00) on shares of Transocean in a research note on Friday, May 5th. Barclays PLC increased their target price on Transocean from $8.00 to $10.00 and gave the stock an “underweight” rating in a research note on Monday, May 1st. Evercore ISI reissued a “buy” rating and set a $18.00 target price on shares of Transocean in a research note on Thursday, August 10th. Finally, Odeon Capital Group LLC initiated coverage on Transocean in a research note on Wednesday, May 17th. They set a “sell” rating and a $8.00 target price on the stock. Eleven equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twelve have assigned a buy rating to the company. Transocean presently has an average rating of “Hold” and a consensus price target of $12.42.
Transocean (NYSE:RIG) traded up 2.75% during mid-day trading on Wednesday, hitting $7.48. The stock had a trading volume of 22,122,966 shares. The firm’s 50-day moving average price is $8.37 and its 200 day moving average price is $10.64. The company’s market cap is $2.93 billion. Transocean has a one year low of $7.20 and a one year high of $16.66.
A number of hedge funds have recently bought and sold shares of RIG. Public Employees Retirement Association of Colorado boosted its stake in Transocean by 12.7% in the second quarter. Public Employees Retirement Association of Colorado now owns 12,340 shares of the offshore drilling services provider’s stock worth $102,000 after buying an additional 1,394 shares during the last quarter. FNY Partners Fund LP bought a new stake in Transocean during the first quarter worth $108,000. WFG Advisors LP boosted its stake in Transocean by 40.7% in the first quarter. WFG Advisors LP now owns 8,856 shares of the offshore drilling services provider’s stock worth $110,000 after buying an additional 2,562 shares during the last quarter. Capstone Investment Advisors Netherlands B.V. bought a new stake in Transocean during the second quarter worth $111,000. Finally, Advisor Partners LLC bought a new stake in Transocean during the second quarter worth $112,000. 69.31% of the stock is owned by institutional investors.
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.
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