Transocean Ltd. (NYSE:RIG) – Research analysts at Capital One Financial Corporation decreased their Q4 2017 earnings estimates for Transocean in a research note issued on Monday. Capital One Financial Corporation analyst J. Gibney now forecasts that the offshore drilling services provider will earn ($0.10) per share for the quarter, down from their previous forecast of ($0.09). Capital One Financial Corporation currently has a “Overweight” rating and a $12.00 target price on the stock. Capital One Financial Corporation also issued estimates for Transocean’s FY2018 earnings at ($0.25) EPS.

RIG has been the subject of a number of other reports. Clarkson Capital raised Transocean from a “neutral” rating to a “buy” rating and set a $11.00 price target for the company in a research report on Friday, September 1st. Credit Suisse Group reissued a “buy” rating on shares of Transocean in a research report on Wednesday, July 19th. R. F. Lafferty set a $15.00 price target on Transocean and gave the company a “buy” rating in a research report on Saturday, August 26th. Sanford C. Bernstein lowered Transocean from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $16.50 to $9.00 in a research report on Thursday, July 6th. Finally, BidaskClub lowered Transocean from a “sell” rating to a “strong sell” rating in a research report on Friday, June 23rd. Ten investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $12.62.

COPYRIGHT VIOLATION WARNING: “Q4 2017 EPS Estimates for Transocean Ltd. (RIG) Cut by Analyst” was reported by American Banking News and is the property of of American Banking News. If you are viewing this report on another site, it was illegally stolen and republished in violation of US and international copyright & trademark laws. The legal version of this report can be viewed at https://www.americanbankingnews.com/2017/10/11/q4-2017-eps-estimates-for-transocean-ltd-rig-cut-by-analyst.html.

Transocean (NYSE RIG) opened at 10.52 on Wednesday. Transocean has a 1-year low of $7.20 and a 1-year high of $16.66. The company has a 50 day moving average of $9.23 and a 200 day moving average of $9.57. The company’s market capitalization is $4.12 billion.

Large investors have recently added to or reduced their stakes in the business. Prudential Financial Inc. raised its holdings in shares of Transocean by 53.1% in the 2nd quarter. Prudential Financial Inc. now owns 2,290,673 shares of the offshore drilling services provider’s stock valued at $18,853,000 after acquiring an additional 794,927 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Transocean by 6.5% in the 1st quarter. Principal Financial Group Inc. now owns 626,397 shares of the offshore drilling services provider’s stock valued at $7,798,000 after acquiring an additional 38,355 shares in the last quarter. Thompson Siegel & Walmsley LLC raised its holdings in shares of Transocean by 129.6% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 6,299,461 shares of the offshore drilling services provider’s stock valued at $51,844,000 after acquiring an additional 3,556,281 shares in the last quarter. OZ Management LP purchased a new stake in shares of Transocean in the 2nd quarter valued at about $1,053,000. Finally, Commerzbank Aktiengesellschaft FI raised its holdings in shares of Transocean by 87.2% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 1,190,757 shares of the offshore drilling services provider’s stock valued at $9,800,000 after acquiring an additional 554,527 shares in the last quarter. 67.81% of the stock is currently owned by hedge funds and other institutional investors.

In related news, CAO Howard E. Davis acquired 40,000 shares of the company’s stock in a transaction that occurred 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 acquisition, the chief accounting officer now owns 21,793 shares of the company’s stock, valued at approximately $159,524.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.33% 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.

Earnings History and Estimates for Transocean (NYSE:RIG)

Receive News & Ratings for Transocean Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Transocean Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.