Transocean Ltd. (NYSE:RIG) has been assigned an average recommendation of “Hold” from the thirty-nine brokerages that are currently covering the stock, Marketbeat Ratings reports. Eleven investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $12.16.
Several research analysts have issued reports on the company. ValuEngine cut Transocean from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Royal Bank of Canada upped their price target on Transocean from $11.00 to $13.00 and gave the company a “sector perform” rating in a report on Tuesday, November 14th. TheStreet cut Transocean from a “c-” rating to a “d” rating in a report on Friday, November 3rd. Jefferies Group upped their price target on Transocean from $10.50 to $11.00 and gave the company a “hold” rating in a report on Friday, November 3rd. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $7.35 price target on shares of Transocean in a report on Sunday, October 22nd.
Several institutional investors have recently bought and sold shares of the company. Shelton Capital Management purchased a new position in shares of Transocean during the 3rd quarter valued at $277,000. Ameritas Investment Partners Inc. grew its holdings in shares of Transocean by 1,158.9% during the 3rd quarter. Ameritas Investment Partners Inc. now owns 116,800 shares of the offshore drilling services provider’s stock valued at $953,000 after acquiring an additional 107,522 shares in the last quarter. Sterling Capital Management LLC grew its holdings in shares of Transocean by 210.7% during the 3rd quarter. Sterling Capital Management LLC now owns 369,684 shares of the offshore drilling services provider’s stock valued at $3,978,000 after acquiring an additional 250,691 shares in the last quarter. California Public Employees Retirement System grew its holdings in shares of Transocean by 25.7% during the 3rd quarter. California Public Employees Retirement System now owns 958,185 shares of the offshore drilling services provider’s stock valued at $10,310,000 after acquiring an additional 195,985 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its holdings in shares of Transocean by 30.5% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 25,106 shares of the offshore drilling services provider’s stock valued at $270,000 after acquiring an additional 5,872 shares in the last quarter. Institutional investors and hedge funds own 73.09% of the company’s stock.
Transocean (RIG) traded up $0.07 during midday trading on Friday, hitting $9.98. The company’s stock had a trading volume of 6,707,675 shares, compared to its average volume of 13,752,271. The company has a market capitalization of $3,876.92, a PE ratio of 12.39 and a beta of 1.80. Transocean has a 52 week low of $7.20 and a 52 week high of $16.66. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.36 and a quick ratio of 2.13.
Transocean (NYSE:RIG) last posted its quarterly earnings results on Wednesday, November 1st. The offshore drilling services provider reported $0.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.20. The company had revenue of $808.00 million for the quarter, compared to analysts’ expectations of $703.13 million. Transocean had a positive return on equity of 2.10% and a negative net margin of 84.09%. The firm’s revenue was down 10.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.25 earnings per share. sell-side analysts predict that Transocean will post -0.34 earnings per share for the current 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.
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