Several brokerages have updated their recommendations and price targets on shares of Transocean (NYSE: RIG) in the last few weeks:

  • 10/12/2017 – Transocean was upgraded by analysts at Citigroup Inc. from a “neutral” rating to a “buy” rating.
  • 10/10/2017 – Transocean was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 10/10/2017 – Transocean is now covered by analysts at Deutsche Bank AG. They set a “buy” rating and a $13.00 price target on the stock.
  • 10/5/2017 – Transocean was given a new $11.00 price target on by analysts at Royal Bank Of Canada. They now have a “hold” rating on the stock.
  • 10/3/2017 – Transocean was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $12.00 price target on the stock. According to Zacks, “Despite a difficult operating backdrop, Transocean has managed to beat estimates in each of the last 16 quarters. The offshore rig company's outperformance has been due to sustained cost cuts and impressive revenue efficiency. The recent bullish backdrop surrounding oil has further lifted the sentiment in the stock, which has rallied more than 8% in the past year, handily outperforming the Zacks Oil & Gas-Drilling industry's 15.7% decline. As it is, we are a fan of Transocean's technologically advanced and versatile drilling fleet , strong backlog and considerable pricing power. Finally, with a broad client base that includes most of the exploration and production biggies, we believe Transocean offers substantial upside potential from the current price levels.”
  • 9/30/2017 – Transocean had its “buy” rating reaffirmed by analysts at Nordea Equity Research. They now have a $14.00 price target on the stock.
  • 9/25/2017 – Transocean was upgraded by analysts at UBS AG from a “neutral” rating to a “buy” rating. They now have a $15.00 price target on the stock, up previously from $9.00.
  • 9/22/2017 – Transocean had its “hold” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $9.00 price target on the stock.
  • 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.

Transocean Ltd. (NYSE RIG) opened at 10.61 on Thursday. Transocean Ltd. has a 12-month low of $7.20 and a 12-month high of $16.66. The company’s market cap is $4.15 billion. The firm has a 50-day moving average price of $9.32 and a 200-day moving average price of $9.57.

In other news, CAO Howard E. Davis bought 40,000 shares of the stock in a transaction on Thursday, August 17th. The stock was acquired at an average cost of $7.32 per share, for a total transaction of $292,800.00. Following the acquisition, the chief accounting officer now owns 21,793 shares of the company’s stock, valued at $159,524.76. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.33% of the stock is currently owned by corporate insiders.

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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