Transocean Ltd. (NYSE:RIG) Given Average Recommendation of “Hold” by Brokerages

Transocean Ltd. (NYSE:RIG) has earned an average recommendation of “Hold” from the eleven analysts that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $6.9643.

A number of research analysts have commented on RIG shares. Weiss Ratings restated a “sell (d-)” rating on shares of Transocean in a research note on Tuesday, April 21st. Clarkson Capital downgraded Transocean from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 19th. TD Cowen boosted their target price on Transocean from $5.50 to $6.00 and gave the company a “hold” rating in a research note on Wednesday, May 6th. Barclays upgraded Transocean from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $6.00 to $8.00 in a research note on Thursday, May 7th. Finally, Morgan Stanley boosted their target price on Transocean from $5.00 to $7.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 15th.

Transocean Stock Performance

Shares of RIG stock opened at $5.59 on Wednesday. The stock’s fifty day simple moving average is $6.41 and its 200-day simple moving average is $5.65. The company has a current ratio of 1.54, a quick ratio of 1.20 and a debt-to-equity ratio of 0.60. Transocean has a 1-year low of $2.51 and a 1-year high of $7.66. The company has a market capitalization of $6.24 billion, a price-to-earnings ratio of -1.87 and a beta of 1.29.

Transocean (NYSE:RIG) last issued its earnings results on Monday, May 4th. The offshore drilling services provider reported ($0.03) EPS 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 firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter last year, the firm earned ($0.10) EPS. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. On average, sell-side analysts predict that Transocean will post 0.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of RIG. Integrated Wealth Concepts LLC grew its stake in Transocean by 12.1% in the first quarter. Integrated Wealth Concepts LLC now owns 69,637 shares of the offshore drilling services provider’s stock valued at $221,000 after purchasing an additional 7,520 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Transocean by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 434,031 shares of the offshore drilling services provider’s stock worth $1,376,000 after acquiring an additional 18,957 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Transocean by 88.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 12,151,817 shares of the offshore drilling services provider’s stock worth $38,521,000 after acquiring an additional 5,719,637 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of Transocean by 5.7% during the 2nd quarter. Cetera Investment Advisers now owns 233,984 shares of the offshore drilling services provider’s stock worth $606,000 after acquiring an additional 12,532 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Transocean by 29.2% during the 2nd quarter. Invesco Ltd. now owns 1,032,774 shares of the offshore drilling services provider’s stock worth $2,675,000 after acquiring an additional 233,458 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

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.