Transocean Ltd. (RIG) Scheduled to Post Earnings on Wednesday
Transocean Ltd. (NYSE:RIG) is scheduled to release its earnings data after the market closes on Wednesday, November 1st. Analysts expect Transocean to post earnings of ($0.12) per share for the quarter.
Transocean Ltd. (NYSE RIG) opened at 10.16 on Wednesday. Transocean Ltd. has a one year low of $7.20 and a one year high of $16.66. The stock’s market cap is $3.97 billion. The company’s 50-day moving average price is $9.88 and its 200-day moving average price is $9.42.
Several analysts have issued reports on RIG shares. Zacks Investment Research downgraded shares of Transocean from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. BMO Capital Markets set a $7.00 price objective on shares of Transocean and gave the stock a “sell” rating in a research note on Wednesday, October 18th. Nordea Equity Research reissued a “buy” rating and issued a $14.00 price objective on shares of Transocean in a research note on Saturday, September 30th. Citigroup Inc. raised shares of Transocean from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $13.00 to $14.00 in a research note on Thursday, October 12th. Finally, Royal Bank Of Canada set a $11.00 price objective on shares of Transocean and gave the stock a “hold” rating in a research note on Thursday, October 5th. Ten equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and fifteen have given a buy rating to the company. Transocean presently has an average rating of “Hold” and an average target price of $12.18.
In related news, CAO Howard E. Davis acquired 40,000 shares of the stock in a transaction dated 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 completion of the purchase, 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 available through this link. Insiders own 0.33% of the company’s stock.
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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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