Transocean Ltd. (NYSE:RIG) Receives $7.70 Consensus PT from Brokerages

Shares of Transocean Ltd. (NYSE:RIG) have been assigned an average rating of “Hold” from the ten ratings firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $7.70.

A number of brokerages recently weighed in on RIG. Morgan Stanley decreased their price target on shares of Transocean from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Monday, February 26th. Citigroup decreased their target price on shares of Transocean from $9.00 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, February 21st. Benchmark reissued a “buy” rating and issued a $8.00 target price on shares of Transocean in a research note on Tuesday, April 30th. Barclays decreased their target price on shares of Transocean from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 22nd. Finally, StockNews.com upgraded shares of Transocean to a “sell” rating in a report on Tuesday, February 20th.

Transocean Price Performance

Shares of NYSE RIG opened at $5.57 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.22 and a current ratio of 1.35. The firm has a market cap of $4.57 billion, a PE ratio of -10.71 and a beta of 2.83. Transocean has a one year low of $4.45 and a one year high of $8.88. The firm has a fifty day moving average of $5.77 and a 200 day moving average of $5.93.

Transocean (NYSE:RIG) last issued its quarterly earnings results on Monday, April 29th. The offshore drilling services provider reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.10. The firm had revenue of $767.00 million for the quarter, compared to analyst estimates of $781.86 million. Transocean had a negative net margin of 13.27% and a negative return on equity of 4.67%. Transocean’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same period last year, the company posted ($0.38) EPS. As a group, research analysts predict that Transocean will post 0.01 EPS for the current fiscal year.

Institutional Trading of Transocean

Several institutional investors have recently added to or reduced their stakes in RIG. AE Wealth Management LLC increased its holdings in Transocean by 25.7% in the 3rd quarter. AE Wealth Management LLC now owns 17,289 shares of the offshore drilling services provider’s stock valued at $142,000 after purchasing an additional 3,532 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in Transocean by 8.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 222,448 shares of the offshore drilling services provider’s stock valued at $1,826,000 after purchasing an additional 17,961 shares during the last quarter. Raymond James & Associates increased its holdings in Transocean by 35.1% in the 3rd quarter. Raymond James & Associates now owns 381,124 shares of the offshore drilling services provider’s stock valued at $3,129,000 after purchasing an additional 98,987 shares during the last quarter. Stratos Wealth Advisors LLC acquired a new position in shares of Transocean in the third quarter worth $363,000. Finally, Independent Advisor Alliance grew its stake in shares of Transocean by 150.4% in the third quarter. Independent Advisor Alliance now owns 28,565 shares of the offshore drilling services provider’s stock worth $235,000 after acquiring an additional 17,158 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

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.