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

Transocean Ltd. (NYSE:RIG) has been assigned a consensus rating of “Hold” from the nine analysts that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $7.13.

Several research analysts have issued reports on the company. StockNews.com upgraded Transocean to a “sell” rating in a research report on Thursday, September 26th. Morgan Stanley raised their price objective on Transocean from $5.00 to $6.00 and gave the stock an “equal weight” rating in a report on Thursday. Benchmark reiterated a “buy” rating and set a $8.00 target price on shares of Transocean in a report on Friday, August 2nd. DNB Markets upgraded Transocean from a “hold” rating to a “buy” rating in a report on Tuesday, September 3rd. Finally, Citigroup downgraded Transocean from a “buy” rating to a “neutral” rating in a report on Thursday, September 12th.

Transocean Price Performance

Transocean stock opened at $4.67 on Monday. Transocean has a 12 month low of $3.85 and a 12 month high of $8.03. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.36 and a quick ratio of 1.08. The business has a 50 day simple moving average of $4.76 and a 200-day simple moving average of $5.38. The stock has a market capitalization of $4.39 billion, a PE ratio of -8.97 and a beta of 2.79.

Transocean (NYSE:RIG) last released its quarterly earnings results on Wednesday, July 31st. The offshore drilling services provider reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.07). Transocean had a negative return on equity of 4.76% and a negative net margin of 11.34%. The company had revenue of $861.00 million for the quarter, compared to analysts’ expectations of $862.25 million. During the same quarter last year, the company earned ($0.15) EPS. Transocean’s revenue for the quarter was up 18.1% compared to the same quarter last year. Equities analysts predict that Transocean will post -0.18 earnings per share for the current year.

Insider Transactions at Transocean

In other news, Director Perestroika purchased 1,500,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were acquired at an average cost of $4.13 per share, for a total transaction of $6,195,000.00. Following the transaction, the director now directly owns 91,074,894 shares of the company’s stock, valued at approximately $376,139,312.22. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other Transocean news, Director (Cyprus) Ltd Perestroika bought 2,000,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were purchased at an average price of $5.23 per share, for a total transaction of $10,460,000.00. Following the completion of the transaction, the director now directly owns 89,574,894 shares in the company, valued at approximately $468,476,695.62. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Perestroika purchased 1,500,000 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was acquired at an average cost of $4.13 per share, for a total transaction of $6,195,000.00. Following the completion of the purchase, the director now owns 91,074,894 shares of the company’s stock, valued at approximately $376,139,312.22. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 13.16% of the stock is owned by insiders.

Institutional Investors Weigh In On Transocean

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. SCP Investment LP purchased a new stake in shares of Transocean in the 4th quarter valued at about $419,000. TFO Wealth Partners LLC raised its holdings in shares of Transocean by 114,684.6% during the 4th quarter. TFO Wealth Partners LLC now owns 29,844 shares of the offshore drilling services provider’s stock valued at $190,000 after buying an additional 29,818 shares in the last quarter. Capital World Investors raised its holdings in shares of Transocean by 34.7% during the 4th quarter. Capital World Investors now owns 39,014,318 shares of the offshore drilling services provider’s stock valued at $247,741,000 after buying an additional 10,049,077 shares in the last quarter. CenterBook Partners LP raised its holdings in shares of Transocean by 36.7% during the 4th quarter. CenterBook Partners LP now owns 748,196 shares of the offshore drilling services provider’s stock valued at $4,751,000 after buying an additional 201,066 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new position in shares of Transocean during the 4th quarter valued at about $3,323,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

About Transocean

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. The company operates a fleet of mobile offshore drilling units, consisting of ultra-deepwater floaters and harsh environment floaters.