Transocean (NYSE:RIG) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

Other analysts have also issued reports about the stock. R. F. Lafferty set a $15.00 target price on shares of Transocean and gave the company a “buy” rating in a research report on Saturday, August 26th. Clarkson Capital upgraded shares of Transocean from a “neutral” rating to a “buy” rating and set a $11.00 target price for the company in a research report on Friday, September 1st. Pareto Securities upgraded shares of Transocean from a “hold” rating to a “buy” rating in a research report on Friday, August 18th. Evercore ISI restated a “buy” rating and set a $18.00 target price on shares of Transocean in a research report on Thursday, August 10th. Finally, UBS upgraded shares of Transocean from a “neutral” rating to a “buy” rating and boosted their target price for the company from $9.00 to $15.00 in a research report on Monday, September 25th. Eleven 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. Transocean currently has a consensus rating of “Hold” and an average price target of $12.31.

Shares of Transocean (NYSE:RIG) traded up $0.69 during mid-day trading on Friday, hitting $10.83. 18,401,458 shares of the stock were exchanged, compared to its average volume of 9,728,244. Transocean has a 52-week low of $7.20 and a 52-week high of $16.66. The company has a market capitalization of $3,966.90, a price-to-earnings ratio of 12.68 and a beta of 1.80. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.36 and a quick ratio of 2.13.

Transocean (NYSE:RIG) last announced its earnings results on Wednesday, November 1st. The offshore drilling services provider reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.20. The company had revenue of $808.00 million during the quarter, compared to analyst estimates of $703.13 million. Transocean had a negative net margin of 84.09% and a positive return on equity of 2.10%. The firm’s quarterly revenue was down 10.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.25 earnings per share. sell-side analysts forecast that Transocean will post -0.32 EPS for the current year.

Large investors have recently modified their holdings of the business. Public Employees Retirement Association of Colorado lifted its holdings in shares of Transocean by 12.7% in the second quarter. Public Employees Retirement Association of Colorado now owns 12,340 shares of the offshore drilling services provider’s stock worth $102,000 after buying an additional 1,394 shares in the last quarter. Dumont & Blake Investment Advisors LLC purchased a new position in shares of Transocean in the third quarter worth $108,000. Capstone Investment Advisors Netherlands B.V. purchased a new position in shares of Transocean in the second quarter worth $111,000. Advisor Partners LLC purchased a new position in shares of Transocean in the second quarter worth $112,000. Finally, Dupont Capital Management Corp purchased a new position in shares of Transocean in the second quarter worth $113,000. 73.13% of the stock is currently owned by institutional investors and hedge funds.

TRADEMARK VIOLATION NOTICE: “ValuEngine Lowers Transocean (RIG) to Sell” was originally published by American Banking News and is the property of of American Banking News. If you are viewing this story on another publication, it was copied illegally and republished in violation of US & international trademark and copyright legislation. The original version of this story can be viewed at https://www.americanbankingnews.com/2017/12/02/valuengine-lowers-transocean-rig-to-sell.html.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations 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.