Transocean Ltd. (NYSE:RIG) Receives Consensus Rating of “Hold” from Brokerages

Transocean Ltd. (NYSE:RIG) has been given an average rating of “Hold” by the ten ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $5.75.

Several research analysts recently commented on RIG shares. StockNews.com raised shares of Transocean to a “sell” rating in a report on Tuesday, November 12th. Evercore ISI downgraded shares of Transocean from an “outperform” rating to an “in-line” rating and cut their price objective for the stock from $6.00 to $5.00 in a report on Wednesday, January 15th. Benchmark reissued a “hold” rating on shares of Transocean in a report on Tuesday, December 3rd. TD Cowen cut their price target on shares of Transocean from $6.50 to $5.50 and set a “hold” rating for the company in a report on Wednesday, January 8th. Finally, Barclays cut their price target on shares of Transocean from $4.50 to $4.00 and set an “overweight” rating for the company in a report on Tuesday.

Transocean Trading Down 3.3 %

NYSE:RIG opened at $3.09 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.34 and a current ratio of 1.47. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of -4.23, a price-to-earnings-growth ratio of 0.86 and a beta of 2.70. Transocean has a 52 week low of $3.06 and a 52 week high of $6.88. The firm has a 50-day moving average price of $3.76 and a two-hundred day moving average price of $4.16.

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

Insider Activity

In other news, EVP Roderick James Mackenzie sold 22,000 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $3.85, for a total transaction of $84,700.00. Following the sale, the executive vice president now owns 313,072 shares in the company, valued at approximately $1,205,327.20. This trade represents a 6.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 13.16% of the company’s stock.

Institutional Trading of Transocean

Institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC raised its position in Transocean by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 17,245,298 shares of the offshore drilling services provider’s stock worth $73,307,000 after purchasing an additional 680,242 shares during the period. Van ECK Associates Corp raised its position in Transocean by 33.9% in the 4th quarter. Van ECK Associates Corp now owns 15,393,873 shares of the offshore drilling services provider’s stock worth $57,727,000 after purchasing an additional 3,895,880 shares during the period. Charles Schwab Investment Management Inc. raised its position in Transocean by 7.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,606,320 shares of the offshore drilling services provider’s stock worth $49,327,000 after purchasing an additional 826,229 shares during the period. State of New Jersey Common Pension Fund D raised its position in Transocean by 25.2% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 499,801 shares of the offshore drilling services provider’s stock worth $1,874,000 after purchasing an additional 100,691 shares during the period. Finally, Barclays PLC raised its position in Transocean by 60.1% in the 3rd quarter. Barclays PLC now owns 1,623,924 shares of the offshore drilling services provider’s stock worth $6,902,000 after purchasing an additional 609,681 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

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.