Cowen and Company Reiterates $8.00 Price Target for Transocean Ltd. (RIG)

Cowen and Company set a $8.00 price target on Transocean Ltd. (NYSE:RIG) in a research report report published on Wednesday. The brokerage currently has a hold rating on the offshore drilling services provider’s stock.

A number of other equities research analysts also recently weighed in on RIG. BidaskClub downgraded shares of Transocean from a sell rating to a strong sell rating in a research note on Friday, June 23rd. Jefferies Group LLC set a $12.00 price objective on Transocean and gave the company a hold rating in a report on Saturday, July 1st. Sanford C. Bernstein cut Transocean from an outperform rating to a market perform rating and cut their price objective for the company from $16.50 to $9.00 in a report on Thursday, July 6th. Credit Suisse Group reissued a buy rating on shares of Transocean in a report on Wednesday, July 19th. Finally, Wells Fargo & Company reissued a market perform rating on shares of Transocean in a report on Saturday, July 22nd. Ten analysts have rated the stock with a sell rating, fourteen have given a hold rating and fifteen have given a buy rating to the company. Transocean has a consensus rating of Hold and a consensus target price of $12.40.

Shares of Transocean (RIG) opened at 9.95 on Wednesday. The firm’s market capitalization is $3.89 billion. Transocean has a one year low of $7.20 and a one year high of $16.66. The firm’s 50 day moving average is $9.83 and its 200-day moving average is $9.50.

WARNING: “Cowen and Company Reiterates $8.00 Price Target for Transocean Ltd. (RIG)” was first reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this article on another website, it was copied illegally and reposted in violation of United States and international copyright and trademark law. The original version of this article can be viewed at https://ledgergazette.com/2017/10/21/cowen-and-company-reiterates-8-00-price-target-for-transocean-ltd-rig.html.

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

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of Nova Scotia acquired a new position in shares of Transocean in the 1st quarter valued at approximately $604,000. FNY Partners Fund LP acquired a new position in shares of Transocean in the 1st quarter valued at approximately $108,000. Ameritas Investment Partners Inc. acquired a new position in shares of Transocean in the 1st quarter valued at approximately $116,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Transocean in the 1st quarter valued at approximately $132,000. Finally, Public Employees Retirement Association of Colorado grew its position in shares of Transocean by 12.7% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 12,340 shares of the offshore drilling services provider’s stock valued at $102,000 after purchasing an additional 1,394 shares during the period. Insti

A number of other equities research analysts also recently weighed in on RIG. BidaskClub downgraded shares of Transocean from a sell rating to a strong sell rating in a research note on Friday, June 23rd. Jefferies Group LLC set a $12.00 price objective on Transocean and gave the company a hold rating in a report on Saturday, July 1st. Sanford C. Bernstein cut Transocean from an outperform rating to a market perform rating and cut their price objective for the company from $16.50 to $9.00 in a report on Thursday, July 6th. Credit Suisse Group reissued a buy rating on shares of Transocean in a report on Wednesday, July 19th. Finally, Wells Fargo & Company reissued a market perform rating on shares of Transocean in a report on Saturday, July 22nd. Ten analysts have rated the stock with a sell rating, fourteen have given a hold rating and fifteen have given a buy rating to the company. Transocean has a consensus rating of Hold and a consensus target price of $12.40.

Shares of Transocean (RIG) opened at 9.95 on Wednesday. The firm’s market capitalization is $3.89 billion. Transocean has a one year low of $7.20 and a one year high of $16.66. The firm’s 50 day moving average is $9.83 and its 200-day moving average is $9.50.

WARNING: “Cowen and Company Reiterates $8.00 Price Target for Transocean Ltd. (RIG)” was first reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this article on another website, it was copied illegally and reposted in violation of United States and international copyright and trademark law. The original version of this article can be viewed at https://ledgergazette.com/2017/10/21/cowen-and-company-reiterates-8-00-price-target-for-transocean-ltd-rig.html.

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

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of Nova Scotia acquired a new position in shares of Transocean in the 1st quarter valued at approximately $604,000. FNY Partners Fund LP acquired a new position in shares of Transocean in the 1st quarter valued at approximately $108,000. Ameritas Investment Partners Inc. acquired a new position in shares of Transocean in the 1st quarter valued at approximately $116,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Transocean in the 1st quarter valued at approximately $132,000. Finally, Public Employees Retirement Association of Colorado grew its position in shares of Transocean by 12.7% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 12,340 shares of the offshore drilling services provider’s stock valued at $102,000 after purchasing an additional 1,394 shares during the period. Institutional investors and hedge funds own 67.79% 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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