Transocean Ltd. (NYSE:RIG) Receives $4.58 Consensus Price Target from Brokerages

Shares of Transocean Ltd. (NYSE:RIG) have received a consensus rating of “Hold” from the ten brokerages that are presently covering the company, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $4.58.

Several brokerages have weighed in on RIG. BTIG Research set a $5.00 target price on Transocean and gave the company a “buy” rating in a research note on Monday, May 5th. Citigroup lowered their target price on Transocean from $4.50 to $3.50 and set a “neutral” rating on the stock in a research note on Wednesday, March 19th. Morgan Stanley lowered their target price on Transocean from $4.00 to $3.50 and set an “equal weight” rating on the stock in a research note on Friday, May 16th. Barclays lowered their target price on Transocean from $4.00 to $3.50 and set an “overweight” rating on the stock in a research note on Monday, April 7th. Finally, Susquehanna lowered their target price on Transocean from $5.00 to $4.00 and set a “positive” rating on the stock in a research note on Monday, April 14th.

Insider Buying and Selling at Transocean

In related news, EVP Roderick James Mackenzie sold 22,000 shares of Transocean stock in a transaction on Monday, May 12th. The stock was sold at an average price of $2.78, for a total transaction of $61,160.00. Following the completion of the transaction, the executive vice president directly owned 340,841 shares of the company’s stock, valued at approximately $947,537.98. The trade was a 6.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 12.27% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Transocean

A number of institutional investors have recently made changes to their positions in RIG. Twin Tree Management LP acquired a new position in shares of Transocean in the fourth quarter worth $27,000. Parallel Advisors LLC raised its holdings in shares of Transocean by 154.8% in the first quarter. Parallel Advisors LLC now owns 8,810 shares of the offshore drilling services provider’s stock worth $28,000 after acquiring an additional 5,353 shares during the last quarter. Optiver Holding B.V. raised its holdings in shares of Transocean by 53.6% in the fourth quarter. Optiver Holding B.V. now owns 8,400 shares of the offshore drilling services provider’s stock worth $32,000 after acquiring an additional 2,933 shares during the last quarter. Townsend & Associates Inc acquired a new position in shares of Transocean in the first quarter worth $32,000. Finally, Costello Asset Management INC acquired a new position in shares of Transocean in the first quarter worth $32,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Transocean Trading Down 1.1%

NYSE:RIG opened at $2.77 on Wednesday. The stock’s 50 day moving average price is $2.68 and its 200 day moving average price is $3.07. The company has a market capitalization of $2.45 billion, a PE ratio of -2.92, a P/E/G ratio of 1.83 and a beta of 2.50. The company has a quick ratio of 1.06, a current ratio of 1.33 and a debt-to-equity ratio of 0.58. Transocean has a 52-week low of $1.97 and a 52-week high of $5.98.

Transocean (NYSE:RIG) last announced its earnings results on Monday, April 28th. The offshore drilling services provider reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.02. Transocean had a negative return on equity of 0.94% and a negative net margin of 18.79%. The company had revenue of $906.00 million for the quarter, compared to the consensus estimate of $884.92 million. During the same period last year, the business posted ($0.03) EPS. The company’s revenue was up 18.7% on a year-over-year basis. On average, research analysts anticipate that Transocean will post 0.14 EPS for the current year.

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.