Transocean (RIG) Projected to Post Quarterly Earnings on Monday

Transocean (NYSE:RIG) is expected to issue its quarterly earnings data after the market closes on Monday, February 17th. Analysts expect the company to announce earnings of $0.02 per share and revenue of $962.28 million for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

Transocean Stock Performance

Transocean stock opened at $3.54 on Friday. The business has a 50 day moving average of $3.84 and a 200-day moving average of $4.28. Transocean has a 1 year low of $3.40 and a 1 year high of $6.88. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.64 and a quick ratio of 1.34. The company has a market capitalization of $3.10 billion, a P/E ratio of -4.71, a P/E/G ratio of 0.75 and a beta of 2.70.

Analyst Upgrades and Downgrades

RIG has been the subject of several recent research reports. JPMorgan Chase & Co. raised Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 price objective for the company in a research note on Friday, December 6th. StockNews.com raised Transocean to a “sell” rating in a research note on Tuesday, November 12th. Barclays upgraded Transocean from an “equal weight” rating to an “overweight” rating and set a $4.50 target price on the stock in a report on Wednesday, December 18th. Evercore ISI cut Transocean from an “outperform” rating to an “in-line” rating and reduced their target price for the company from $6.00 to $5.00 in a report on Wednesday, January 15th. Finally, Benchmark reiterated a “hold” rating on shares of Transocean in a report on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Transocean has a consensus rating of “Hold” and an average price target of $5.94.

Insiders Place Their Bets

In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $3.85, for a total transaction of $84,700.00. Following the transaction, the executive vice president now directly owns 313,072 shares in the company, valued at approximately $1,205,327.20. This represents a 6.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have sold 64,000 shares of company stock worth $259,600. Corporate insiders own 13.16% 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.