Transocean Ltd. (RIG) Given a $11.00 Price Target by Royal Bank Of Canada Analysts
Transocean Ltd. (NYSE:RIG) received a $11.00 price target from analysts at Royal Bank Of Canada in a research report issued to clients and investors on Thursday. The brokerage presently has a “hold” rating on the offshore drilling services provider’s stock. Royal Bank Of Canada’s price target would indicate a potential upside of 4.36% from the company’s current price.
A number of other analysts also recently issued reports on the company. Pareto Securities raised Transocean from a “hold” rating to a “buy” rating in a research report on Friday, August 18th. Zacks Investment Research raised Transocean from a “hold” rating to a “buy” rating and set a $9.50 price target on the stock in a research report on Wednesday, August 2nd. Goldman Sachs Group, Inc. (The) raised Transocean from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $8.57 to $9.75 in a research report on Wednesday, August 9th. Seaport Global Securities restated a “sell” rating on shares of Transocean in a report on Wednesday, July 26th. Finally, BidaskClub upgraded Transocean from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Ten analysts have rated the stock with a sell rating, twelve have given a hold rating and fifteen have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $12.41.
Transocean (RIG) traded up 2.43% on Thursday, reaching $10.54. The company had a trading volume of 13,428,721 shares. The firm has a 50 day moving average price of $8.97 and a 200-day moving average price of $9.64. The stock’s market capitalization is $4.12 billion. Transocean has a 12 month low of $7.20 and a 12 month high of $16.66. Transocean also saw some unusual options trading on Monday. Stock investors bought 16,695 call options on the company. This represents an increase of 121% compared to the typical daily volume of 7,543 call options.
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In other Transocean news, CAO Howard E. Davis bought 40,000 shares of the business’s stock in a transaction on Thursday, August 17th. The shares were acquired at an average price of $7.32 per share, with a total value of $292,800.00. Following the transaction, the chief accounting officer now owns 21,793 shares of the company’s stock, valued at approximately $159,524.76. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.33% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Contrarius Investment Management Ltd lifted its stake in shares of Transocean by 96.8% in the 2nd quarter. Contrarius Investment Management Ltd now owns 9,740,030 shares of the offshore drilling services provider’s stock valued at $80,160,000 after purchasing an additional 4,790,469 shares during the period. Teachers Advisors LLC grew its holdings in shares of Transocean by 796.2% during the first quarter. Teachers Advisors LLC now owns 4,355,168 shares of the offshore drilling services provider’s stock worth $54,222,000 after buying an additional 3,869,219 shares in the last quarter. Thompson Siegel & Walmsley LLC grew its holdings in shares of Transocean by 129.6% during the second quarter. Thompson Siegel & Walmsley LLC now owns 6,299,461 shares of the offshore drilling services provider’s stock worth $51,844,000 after buying an additional 3,556,281 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Transocean by 12.1% during the second quarter. BlackRock Inc. now owns 25,538,929 shares of the offshore drilling services provider’s stock worth $210,185,000 after buying an additional 2,756,207 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of Transocean by 215.5% during the second quarter. Marshall Wace LLP now owns 2,365,570 shares of the offshore drilling services provider’s stock worth $18,925,000 after buying an additional 1,615,825 shares in the last quarter. Institutional investors and hedge funds own 67.81% 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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