Transocean Ltd. (NYSE:RIG) has earned a consensus recommendation of “Hold” from the thirty-nine analysts that are presently covering the firm, MarketBeat.com reports. Eleven research analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation and fifteen have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $12.16.

A number of equities analysts recently weighed in on the stock. Jefferies Group set a $9.00 target price on shares of Transocean and gave the stock a “hold” rating in a research note on Wednesday, August 16th. Nomura reduced their target price on shares of Transocean from $8.00 to $7.00 and set a “reduce” rating for the company in a research note on Thursday, August 17th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $11.00 target price on shares of Transocean in a research note on Friday, September 1st. ValuEngine raised shares of Transocean from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. Finally, Pareto Securities raised shares of Transocean from a “hold” rating to a “buy” rating in a research note on Friday, August 18th.

Transocean (NYSE:RIG) traded down $0.17 on Friday, hitting $9.90. 7,653,226 shares of the company were exchanged, compared to its average volume of 13,798,341. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.13 and a current ratio of 2.36. Transocean has a 1-year low of $7.20 and a 1-year high of $16.66. The company has a market cap of $3,955.17, a PE ratio of 12.64 and a beta of 1.80.

Transocean (NYSE:RIG) last released its quarterly earnings data on Wednesday, November 1st. The offshore drilling services provider reported $0.16 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.20. Transocean had a negative net margin of 84.09% and a positive return on equity of 2.10%. The business had revenue of $808.00 million during the quarter, compared to analysts’ expectations of $703.13 million. During the same quarter in the prior year, the company earned $0.25 EPS. The firm’s quarterly revenue was down 10.8% on a year-over-year basis. research analysts predict that Transocean will post -0.34 earnings per share for the current year.

A number of large investors have recently modified their holdings of RIG. Contrarius Investment Management Ltd raised its holdings in 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 acquiring an additional 4,790,469 shares during the period. Thompson Siegel & Walmsley LLC raised its holdings in 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 during the period. BlackRock Inc. raised its holdings in Transocean by 12.1% in the 2nd quarter. BlackRock Inc. now owns 25,538,929 shares of the offshore drilling services provider’s stock valued at $210,185,000 after acquiring an additional 2,756,207 shares during the period. Alyeska Investment Group L.P. bought a new position in Transocean in the 3rd quarter valued at about $26,661,000. Finally, Principal Financial Group Inc. raised its holdings in Transocean by 310.7% in the 3rd quarter. Principal Financial Group Inc. now owns 2,536,811 shares of the offshore drilling services provider’s stock valued at $27,296,000 after acquiring an additional 1,919,171 shares during the period. Institutional investors and hedge funds own 73.09% of the company’s stock.

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About Transocean

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.

Analyst Recommendations for Transocean (NYSE:RIG)

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