Susquehanna Bancshares set a $11.00 target price on Transocean (NYSE:RIG) in a report issued on Friday morning. The brokerage currently has a hold rating on the offshore drilling services provider’s stock.
Several other research firms also recently weighed in on RIG. Cowen set a $11.00 target price on shares of Transocean and gave the company a hold rating in a report on Thursday. Piper Jaffray Companies set a $11.00 price target on shares of Transocean and gave the stock a hold rating in a research note on Wednesday. Royal Bank of Canada set a $11.00 price target on shares of Transocean and gave the stock a hold rating in a research note on Sunday, November 12th. TheStreet downgraded shares of Transocean from a c- rating to a d rating in a research note on Friday, November 3rd. Finally, Jefferies Group upgraded shares of Transocean from a hold rating to a buy rating and set a $13.00 price target for the company in a research note on Thursday, January 4th. Eleven research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have assigned a buy rating to the company. The company presently has an average rating of Hold and an average target price of $12.28.
Transocean (NYSE:RIG) traded up $0.08 during trading on Friday, reaching $12.20. 12,020,000 shares of the company traded hands, compared to its average volume of 11,490,000. Transocean has a 12-month low of $7.20 and a 12-month high of $16.16. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.36 and a quick ratio of 2.13. The firm has a market cap of $4,770.00, a P/E ratio of -1.71 and a beta of 1.79.
Transocean (NYSE:RIG) last posted its earnings results on Wednesday, November 1st. The offshore drilling services provider reported $0.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.20. Transocean had a negative net margin of 84.09% and a positive return on equity of 2.10%. The firm had revenue of $808.00 million during the quarter, compared to the consensus estimate of $703.13 million. During the same quarter last year, the firm earned $0.25 EPS. The firm’s revenue for the quarter was down 10.8% on a year-over-year basis. research analysts predict that Transocean will post -0.34 earnings per share for the current year.
Hedge funds have recently modified their holdings of the stock. Dumont & Blake Investment Advisors LLC acquired a new position in shares of Transocean during the third quarter worth $108,000. Capstone Investment Advisors Netherlands B.V. purchased a new stake in Transocean in the second quarter valued at $111,000. Saratoga Research & Investment Management purchased a new stake in Transocean in the third quarter valued at $115,000. WFG Advisors LP lifted its position in Transocean by 60.3% in the second quarter. WFG Advisors LP now owns 14,194 shares of the offshore drilling services provider’s stock valued at $117,000 after acquiring an additional 5,338 shares during the last quarter. Finally, IndexIQ Advisors LLC purchased a new stake in Transocean in the third quarter valued at $117,000. Hedge funds and other institutional investors own 72.88% of the company’s stock.
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Transocean Ltd. is an international provider of offshore contract drilling services for oil and gas wells. The Company’s primary business is to contract its drilling rigs, related equipment and work crews on a dayrate basis to drill oil and gas wells. As of February 9, 2017, it owned or had partial ownership interests in and operated 56 mobile offshore drilling units.
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