Analysts Set Transocean Ltd. (NYSE:RIG) Price Target at $6.82

Shares of Transocean Ltd. (NYSE:RIG) have been given a consensus rating of “Hold” by the eleven ratings firms that are covering the company, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $6.8214.

A number of brokerages recently issued reports on RIG. Susquehanna dropped their price target on shares of Transocean from $8.00 to $7.00 and set a “positive” rating for the company in a research note on Wednesday, July 8th. Clarkson Capital downgraded shares of Transocean from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 19th. TD Cowen raised their price objective on shares of Transocean from $5.50 to $6.00 and gave the stock a “hold” rating in a report on Wednesday, May 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Transocean in a research note on Tuesday, April 21st. Finally, Barclays upgraded Transocean from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $6.00 to $8.00 in a research note on Thursday, May 7th.

Transocean Trading Down 1.4%

NYSE:RIG opened at $5.12 on Friday. The stock has a market cap of $5.72 billion, a price-to-earnings ratio of -1.72 and a beta of 1.30. Transocean has a one year low of $2.53 and a one year high of $7.66. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.54. The business’s 50-day simple moving average is $5.88 and its 200 day simple moving average is $5.81.

Transocean (NYSE:RIG) last issued its quarterly earnings data on Monday, May 4th. The offshore drilling services provider reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.10). Transocean had a negative net margin of 66.79% and a positive return on equity of 0.88%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the business earned ($0.10) EPS. Transocean’s revenue for the quarter was up 19.3% compared to the same quarter last year. As a group, sell-side analysts predict that Transocean will post 0.16 earnings per share for the current fiscal year.

Insider Activity at Transocean

In other news, Director Chad C. Deaton bought 35,000 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The stock was bought at an average price of $4.95 per share, for a total transaction of $173,250.00. Following the transaction, the director owned 237,421 shares in the company, valued at $1,175,233.95. The trade was a 17.29% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 9.70% of the company’s stock.

Hedge Funds Weigh In On Transocean

Several large investors have recently added to or reduced their stakes in RIG. TD Waterhouse Canada Inc. raised its holdings in shares of Transocean by 22,432.1% during the fourth quarter. TD Waterhouse Canada Inc. now owns 6,309 shares of the offshore drilling services provider’s stock worth $26,000 after purchasing an additional 6,281 shares during the period. Josh Arnold Investment Consultant LLC acquired a new position in shares of Transocean in the 2nd quarter valued at about $26,000. Flagship Harbor Advisors LLC bought a new stake in shares of Transocean during the 4th quarter valued at about $27,000. Elevation Point Wealth Partners LLC acquired a new stake in Transocean during the third quarter worth about $31,000. Finally, Larson Financial Group LLC lifted its holdings in Transocean by 203.8% in the third quarter. Larson Financial Group LLC now owns 11,030 shares of the offshore drilling services provider’s stock worth $34,000 after acquiring an additional 7,399 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.

Transocean Company Profile

Transocean Ltd. is a leading international provider of offshore contract drilling services for the oil and gas industry. The company specializes in the operation of mobile drilling units, including ultra-deepwater drillships, semisubmersible rigs and high-specification jackup rigs. Transocean’s fleet is designed to meet complex drilling requirements, from ultra-deepwater well construction to shelf exploration and development projects.

The company’s core services encompass the full spectrum of offshore drilling operations, including project and engineering management, marine operations, drilling supervision, and maintenance support.