Transocean (NYSE:RIG) has been given a $11.00 price objective by equities research analysts at Susquehanna Bancshares in a research note issued on Friday. The brokerage currently has a “hold” rating on the offshore drilling services provider’s stock. Susquehanna Bancshares’ target price points to a potential downside of 9.84% from the company’s current price.
A number of other analysts have also issued reports on RIG. Jefferies Group reissued a “hold” rating and issued a $9.00 target price on shares of Transocean in a research report on Friday, September 22nd. UBS Group raised 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. Nordea Equity Research reissued a “buy” rating and issued a $14.00 target price on shares of Transocean in a research report on Saturday, September 30th. Zacks Investment Research raised Transocean from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Tuesday, October 3rd. Finally, Royal Bank of Canada set a $11.00 target price on Transocean and gave the company a “hold” rating in a research report on Thursday, October 5th. Eleven investment analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $12.28.
Shares of Transocean (NYSE RIG) traded up $0.08 during midday trading on Friday, reaching $12.20. The company’s stock had a trading volume of 12,020,000 shares, compared to its average volume of 11,490,000. The stock has a market capitalization of $4,770.00, a price-to-earnings ratio of -1.71 and a beta of 1.79. The company has a current ratio of 2.36, a quick ratio of 2.13 and a debt-to-equity ratio of 0.51. Transocean has a 52 week low of $7.20 and a 52 week high of $16.16.
Several hedge funds have recently modified their holdings of RIG. Dumont & Blake Investment Advisors LLC acquired a new position in shares of Transocean during the third quarter worth $108,000. Capstone Investment Advisors Netherlands B.V. acquired a new position in shares of Transocean during the second quarter worth $111,000. Saratoga Research & Investment Management acquired a new position in shares of Transocean during the third quarter worth $115,000. WFG Advisors LP grew its stake in shares of Transocean by 60.3% during the second quarter. WFG Advisors LP now owns 14,194 shares of the offshore drilling services provider’s stock worth $117,000 after purchasing an additional 5,338 shares in the last quarter. Finally, IndexIQ Advisors LLC acquired a new position in shares of Transocean during the third quarter worth $117,000. Hedge funds and other institutional investors own 72.88% 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.
