Transocean LTD (RIG) Given Consensus Rating of “Hold” by Brokerages

Shares of Transocean LTD (NYSE:RIG) have been given an average recommendation of “Hold” by the thirty-seven research firms that are currently covering the stock, Marketbeat.com reports. Eleven equities research analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and fourteen have given a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $11.93.

Several brokerages have issued reports on RIG. Jefferies Group lifted their target price on shares of Transocean from $10.50 to $11.00 and gave the stock a “hold” rating in a research note on Friday, November 3rd. began coverage on shares of Transocean in a research note on Thursday, October 19th. They set a “hold” rating and a $12.00 target price on the stock. Zacks Investment Research raised shares of Transocean from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research note on Tuesday, October 3rd. ValuEngine raised shares of Transocean from a “hold” rating to a “buy” rating in a research note on Thursday, November 2nd. Finally, Deutsche Bank began coverage on shares of Transocean in a research note on Tuesday, October 10th. They set a “buy” rating and a $13.00 target price on the stock.

Several hedge funds have recently made changes to their positions in RIG. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Transocean during the 2nd quarter valued at about $259,000. Alliancebernstein L.P. lifted its position in Transocean by 1.4% in the second quarter. Alliancebernstein L.P. now owns 607,549 shares of the offshore drilling services provider’s stock valued at $5,000,000 after buying an additional 8,207 shares during the last quarter. Nationwide Fund Advisors lifted its position in Transocean by 81.0% in the second quarter. Nationwide Fund Advisors now owns 592,117 shares of the offshore drilling services provider’s stock valued at $4,873,000 after buying an additional 264,910 shares during the last quarter. BlackRock Inc. lifted its position in Transocean by 12.1% in the second quarter. BlackRock Inc. now owns 25,538,929 shares of the offshore drilling services provider’s stock valued at $210,185,000 after buying an additional 2,756,207 shares during the last quarter. Finally, Amalgamated Bank lifted its position in Transocean by 39.2% in the second quarter. Amalgamated Bank now owns 77,649 shares of the offshore drilling services provider’s stock valued at $639,000 after buying an additional 21,865 shares during the last quarter. 73.09% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Transocean (NYSE RIG) traded down $0.16 during midday trading on Friday, reaching $11.16. 8,953,602 shares of the company traded hands, compared to its average volume of 12,290,000. The stock has a market cap of $4,370.00, a price-to-earnings ratio of -1.56 and a beta of 1.79. 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 12 month low of $7.20 and a 12 month high of $15.12.

Transocean (NYSE:RIG) last issued its quarterly earnings results on Wednesday, November 1st. The offshore drilling services provider reported $0.16 EPS for the quarter, topping 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 revenue was down 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.25 EPS. research analysts predict that Transocean will post -0.35 EPS for the current fiscal year.

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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.

Analyst Recommendations for Transocean (NYSE:RIG)

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