Several analysts have recently updated their ratings and price targets for Transocean (NYSE: RIG):

  • 9/1/2017 – Transocean was upgraded by analysts at Clarkson Capital from a “neutral” rating to a “buy” rating. They now have a $11.00 price target on the stock.
  • 9/1/2017 – Transocean had its “hold” rating reaffirmed by analysts at Royal Bank Of Canada. They now have a $11.00 price target on the stock.
  • 8/31/2017 – Transocean was upgraded by analysts at Capital One Financial Corporation from an “equal weight” rating to an “overweight” rating. They now have a $12.00 price target on the stock.
  • 8/26/2017 – Transocean was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 8/26/2017 – Transocean was given a new $15.00 price target on by analysts at R. F. Lafferty. They now have a “buy” rating on the stock.
  • 8/25/2017 – Transocean was upgraded by analysts at Royal Bank Of Canada from an “underperform” rating to a “sector perform” rating. They now have a $11.00 price target on the stock.
  • 8/19/2017 – Transocean had its “reduce” rating reaffirmed by analysts at Instinet. They now have a $7.00 price target on the stock, down previously from $8.00.
  • 8/18/2017 – Transocean was upgraded by analysts at Pareto Securities from a “hold” rating to a “buy” rating.
  • 8/17/2017 – Transocean was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 8/17/2017 – Transocean had its price target lowered by analysts at Nomura from $8.00 to $7.00. They now have a “reduce” rating on the stock.
  • 8/16/2017 – Transocean was given a new $9.00 price target on by analysts at Jefferies Group LLC. They now have a “hold” rating on the stock.
  • 8/15/2017 – Transocean was upgraded by analysts at Bank of America Corporation from an “underperform” rating to a “neutral” rating. They now have a $9.00 price target on the stock, up previously from $7.00.
  • 8/10/2017 – Transocean had its “buy” rating reaffirmed by analysts at Evercore ISI. They now have a $18.00 price target on the stock.
  • 8/9/2017 – Transocean was upgraded by analysts at Goldman Sachs Group, Inc. (The) from a “sell” rating to a “neutral” rating. They now have a $9.75 price target on the stock, up previously from $8.57.
  • 8/6/2017 – Transocean was given a new $9.00 price target on by analysts at Barclays PLC. They now have a “sell” rating on the stock.
  • 8/2/2017 – Transocean was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $9.50 price target on the stock. According to Zacks, “Despite a difficult operating environment, Transocean has maintained its excellent track record of earnings surprise history, beating estimates in the last 15 quarters. As it is, we are a fan of Transocean's technologically advanced and versatile drilling fleet, strong backlog and considerable pricing power. With the market for offshore rigs unlikely to turn around anytime soon, the company has been selling/stacking older rigs as well as investing in high-specification rigs in order to improve the quality of its fleet. We also appreciate the agressive cost cut initiatives the company is undertaking to shore up its financials. Strong liquidity and managable leverage gives it enough financial flexibility to make acquisitions ang grow internally . All these factors account for our bullish stance on the prospects of the stock.”
  • 7/26/2017 – Transocean had its “sell” rating reaffirmed by analysts at Seaport Global Securities.
  • 7/22/2017 – Transocean had its “market perform” rating reaffirmed by analysts at Wells Fargo & Company.
  • 7/19/2017 – Transocean had its “buy” rating reaffirmed by analysts at Credit Suisse Group.
  • 7/18/2017 – Transocean had its “hold” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $9.50 price target on the stock, down previously from $11.50.

Transocean Ltd. (RIG) traded up 0.11% on Thursday, reaching $9.22. 22,582,988 shares of the company’s stock were exchanged. Transocean Ltd. has a 52 week low of $7.20 and a 52 week high of $16.66. The stock’s 50 day moving average is $8.31 and its 200 day moving average is $9.98. The company’s market cap is $3.61 billion.

In other news, CAO Howard E. Davis purchased 40,000 shares of Transocean stock in a transaction dated Thursday, August 17th. The shares were bought at an average cost of $7.32 per share, for a total transaction of $292,800.00. Following the completion of the acquisition, the chief accounting officer now owns 21,793 shares in the company, valued at approximately $159,524.76. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.33% of the company’s stock.

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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