Brokerages Set Transocean Ltd. (NYSE:RIG) Target Price at $5.23

Shares of Transocean Ltd. (NYSE:RIG) have been assigned an average recommendation of “Hold” from the ten analysts that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $5.03.

A number of research analysts recently issued reports on the company. Barclays cut their price target on Transocean from $4.50 to $4.00 and set an “overweight” rating for the company in a report on Tuesday, February 25th. SEB Equity Research set a $2.80 target price on shares of Transocean in a research note on Wednesday, March 5th. Benchmark reissued a “hold” rating on shares of Transocean in a report on Tuesday, December 3rd. Citigroup reduced their price objective on Transocean from $4.50 to $3.50 and set a “neutral” rating on the stock in a report on Wednesday, March 19th. Finally, JPMorgan Chase & Co. raised Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 target price for the company in a research note on Friday, December 6th.

Transocean Trading Down 3.2 %

Shares of Transocean stock opened at $3.20 on Monday. The stock has a market capitalization of $2.82 billion, a P/E ratio of -4.38, a price-to-earnings-growth ratio of 0.86 and a beta of 2.72. Transocean has a 12-month low of $2.55 and a 12-month high of $6.88. The company has a quick ratio of 1.34, a current ratio of 1.47 and a debt-to-equity ratio of 0.60. The company has a 50-day simple moving average of $3.40 and a 200 day simple moving average of $3.90.

Transocean (NYSE:RIG) last posted its earnings results on Monday, February 17th. The offshore drilling services provider reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.11). The firm had revenue of $952.00 million during the quarter, compared to the consensus estimate of $962.28 million. Transocean had a negative net margin of 14.53% and a negative return on equity of 0.52%. Research analysts expect that Transocean will post 0.14 earnings per share for the current fiscal year.

Insider Transactions at Transocean

In other news, EVP Roderick James Mackenzie sold 22,000 shares of Transocean stock in a transaction on Friday, January 10th. The shares were sold at an average price of $4.05, for a total transaction of $89,100.00. Following the transaction, the executive vice president now directly owns 229,596 shares of the company’s stock, valued at $929,863.80. This trade represents a 8.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 13.16% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pilgrim Global Advisors LLC bought a new position in shares of Transocean during the 3rd quarter valued at about $77,473,000. American Century Companies Inc. lifted its stake in Transocean by 51.5% in the fourth quarter. American Century Companies Inc. now owns 19,257,437 shares of the offshore drilling services provider’s stock valued at $72,215,000 after buying an additional 6,542,271 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Transocean in the fourth quarter valued at approximately $16,608,000. SIR Capital Management L.P. bought a new stake in shares of Transocean during the fourth quarter worth $14,976,000. Finally, Van ECK Associates Corp raised its holdings in shares of Transocean by 33.9% during the fourth quarter. Van ECK Associates Corp now owns 15,393,873 shares of the offshore drilling services provider’s stock worth $57,727,000 after acquiring an additional 3,895,880 shares during the period. 67.73% of the stock is currently owned by institutional investors.

Transocean Company Profile

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.