Transocean Ltd. (NYSE:RIG – Get Free Report) Director Perestroika acquired 1,500,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were acquired at an average price of $4.13 per share, with a total value of $6,195,000.00. Following the acquisition, the director now owns 91,074,894 shares in the company, valued at $376,139,312.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Transocean Stock Down 0.5 %
Shares of NYSE RIG opened at $4.13 on Friday. Transocean Ltd. has a 12-month low of $3.85 and a 12-month high of $8.88. The stock’s fifty day simple moving average is $5.02 and its two-hundred day simple moving average is $5.46. The stock has a market capitalization of $3.62 billion, a PE ratio of -7.94 and a beta of 2.79. The company has a current ratio of 1.36, a quick ratio of 1.08 and a debt-to-equity ratio of 0.63.
Transocean (NYSE:RIG – Get Free Report) last posted its earnings results on Wednesday, July 31st. The offshore drilling services provider reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.07). The company had revenue of $861.00 million during the quarter, compared to analysts’ expectations of $862.25 million. Transocean had a negative net margin of 11.34% and a negative return on equity of 4.76%. Transocean’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.15) EPS. As a group, analysts expect that Transocean Ltd. will post -0.19 EPS for the current fiscal year.
Institutional Investors Weigh In On Transocean
Analyst Ratings Changes
A number of brokerages have recently issued reports on RIG. Citigroup lowered shares of Transocean from a “buy” rating to a “neutral” rating in a research note on Thursday. StockNews.com raised shares of Transocean to a “sell” rating in a research report on Monday, August 5th. Benchmark reaffirmed a “buy” rating and set a $8.00 target price on shares of Transocean in a research report on Friday, August 2nd. Finally, DNB Markets upgraded Transocean from a “hold” rating to a “buy” rating in a report on Tuesday, September 3rd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $7.25.
Read Our Latest Research Report on Transocean
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.
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