Transocean Ltd. (RIG) Downgraded by ValuEngine to Hold

ValuEngine downgraded shares of Transocean Ltd. (NYSE:RIG) from a buy rating to a hold rating in a research report released on Tuesday.

Other research analysts have also recently issued reports about the stock. Evercore ISI reaffirmed a buy rating and issued a $18.00 target price on shares of Transocean in a report on Thursday, August 10th. Zacks Investment Research upgraded shares of Transocean from a hold rating to a buy rating and set a $9.50 price target on the stock in a research report on Wednesday, August 2nd. Credit Suisse Group reiterated a buy rating on shares of Transocean in a research report on Wednesday, July 19th. Pareto Securities upgraded shares of Transocean from a hold rating to a buy rating in a research report on Friday, August 18th. Finally, R. F. Lafferty set a $15.00 price target on shares of Transocean and gave the company a buy rating in a research report on Saturday, August 26th. Ten research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have issued a buy rating to the company. The company has a consensus rating of Hold and an average price target of $12.62.

Shares of Transocean (NYSE RIG) opened at 10.52 on Tuesday. The firm’s market capitalization is $4.12 billion. Transocean has a 12-month low of $7.20 and a 12-month high of $16.66. The company has a 50-day moving average price of $9.23 and a 200 day moving average price of $9.57.

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In other news, CAO Howard E. Davis bought 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The shares were purchased at an average price of $7.32 per share, for a total transaction of $292,800.00. Following the completion of the transaction, the chief accounting officer now owns 21,793 shares in the company, valued at $159,524.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.33% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of Nova Scotia acquired a new stake in Transocean during the first quarter worth approximately $604,000. FNY Partners Fund LP acquired a new stake in Transocean during the first quarter worth approximately $108,000. Ameritas Investment Partners Inc. acquired a new stake in Transocean during the first quarter worth approximately $116,000. Dynamic Technology Lab Private Ltd acquired a new stake in Transocean during the first quarter worth approximately $132,000. Finally, Public Employees Retirement Association of Colorado boosted its position in Transocean by 12.7% during the second quarter. Public Employees Retirement Association of Colorado now owns 12,340 shares

Other research analysts have also recently issued reports about the stock. Evercore ISI reaffirmed a buy rating and issued a $18.00 target price on shares of Transocean in a report on Thursday, August 10th. Zacks Investment Research upgraded shares of Transocean from a hold rating to a buy rating and set a $9.50 price target on the stock in a research report on Wednesday, August 2nd. Credit Suisse Group reiterated a buy rating on shares of Transocean in a research report on Wednesday, July 19th. Pareto Securities upgraded shares of Transocean from a hold rating to a buy rating in a research report on Friday, August 18th. Finally, R. F. Lafferty set a $15.00 price target on shares of Transocean and gave the company a buy rating in a research report on Saturday, August 26th. Ten research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have issued a buy rating to the company. The company has a consensus rating of Hold and an average price target of $12.62.

Shares of Transocean (NYSE RIG) opened at 10.52 on Tuesday. The firm’s market capitalization is $4.12 billion. Transocean has a 12-month low of $7.20 and a 12-month high of $16.66. The company has a 50-day moving average price of $9.23 and a 200 day moving average price of $9.57.

ILLEGAL ACTIVITY NOTICE: This piece of content was first posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this piece of content on another domain, it was illegally copied and reposted in violation of international trademark & copyright legislation. The legal version of this piece of content can be accessed at https://ledgergazette.com/2017/10/11/transocean-ltd-rig-downgraded-by-valuengine-to-hold.html.

In other news, CAO Howard E. Davis bought 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The shares were purchased at an average price of $7.32 per share, for a total transaction of $292,800.00. Following the completion of the transaction, the chief accounting officer now owns 21,793 shares in the company, valued at $159,524.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.33% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of Nova Scotia acquired a new stake in Transocean during the first quarter worth approximately $604,000. FNY Partners Fund LP acquired a new stake in Transocean during the first quarter worth approximately $108,000. Ameritas Investment Partners Inc. acquired a new stake in Transocean during the first quarter worth approximately $116,000. Dynamic Technology Lab Private Ltd acquired a new stake in Transocean during the first quarter worth approximately $132,000. Finally, Public Employees Retirement Association of Colorado boosted its position in Transocean by 12.7% during the second quarter. Public Employees Retirement Association of Colorado now owns 12,340 shares of the offshore drilling services provider’s stock worth $102,000 after acquiring an additional 1,394 shares during the last quarter. Hedge funds and other institutional investors own 67.81% of the company’s stock.

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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