Analysts Set Transocean LTD (RIG) PT at $11.89

Transocean LTD (NYSE:RIG) has earned an average rating of “Hold” from the thirty-six analysts that are presently covering the stock, MarketBeat.com reports. Ten research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have assigned a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $11.89.

Several equities research analysts have issued reports on RIG shares. ValuEngine upgraded shares of Transocean from a “hold” rating to a “buy” rating in a research report on Thursday, November 2nd. Jefferies Group lifted their target price on shares of Transocean from $10.50 to $11.00 and gave the company a “hold” rating in a research report on Friday, November 3rd. TheStreet lowered shares of Transocean from a “c-” rating to a “d” rating in a research report on Friday, November 3rd. Royal Bank of Canada set a $11.00 target price on shares of Transocean and gave the company a “hold” rating in a research report on Sunday, November 12th. Finally, Piper Jaffray Companies set a $11.00 target price on shares of Transocean and gave the company a “hold” rating in a research report on Wednesday, January 10th.

In related news, SVP David A. Tonnel sold 9,000 shares of Transocean stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $9.39, for a total value of $84,510.00. Following the transaction, the senior vice president now directly owns 75,349 shares of the company’s stock, valued at $707,527.11. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.33% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. increased its stake in shares of Transocean by 0.5% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 49,298 shares of the offshore drilling services provider’s stock worth $406,000 after buying an additional 226 shares during the period. Thrivent Financial For Lutherans increased its stake in shares of Transocean by 2.4% in the second quarter. Thrivent Financial For Lutherans now owns 14,840 shares of the offshore drilling services provider’s stock worth $122,000 after buying an additional 350 shares during the period. Stifel Financial Corp increased its stake in shares of Transocean by 0.5% in the second quarter. Stifel Financial Corp now owns 81,518 shares of the offshore drilling services provider’s stock worth $664,000 after buying an additional 410 shares during the period. Private Advisor Group LLC increased its stake in shares of Transocean by 22.6% in the third quarter. Private Advisor Group LLC now owns 29,899 shares of the offshore drilling services provider’s stock worth $314,000 after buying an additional 5,513 shares during the period. Finally, Cubist Systematic Strategies LLC increased its stake in shares of Transocean by 30.5% in the third quarter. Cubist Systematic Strategies LLC now owns 25,106 shares of the offshore drilling services provider’s stock worth $270,000 after buying an additional 5,872 shares during the period. 62.76% of the stock is currently owned by institutional investors.

Transocean (NYSE:RIG) traded up $0.34 during mid-day trading on Wednesday, hitting $9.70. 12,033,784 shares of the stock were exchanged, compared to its average volume of 15,220,000. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.36 and a quick ratio of 2.13. Transocean has a one year low of $7.20 and a one year high of $14.33. The company has a market capitalization of $3,800.00, a price-to-earnings ratio of -1.24 and a beta of 1.55.

Transocean (NYSE:RIG) last released its quarterly earnings data on Tuesday, February 20th. The offshore drilling services provider reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.03). Transocean had a negative net margin of 105.18% and a negative return on equity of 0.17%. The firm had revenue of $629.00 million during the quarter, compared to the consensus estimate of $619.66 million. During the same quarter last year, the business posted $0.69 earnings per share. Transocean’s revenue was down 35.4% compared to the same quarter last year. analysts anticipate that Transocean will post -0.77 EPS for the current fiscal year.

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About Transocean

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.

Analyst Recommendations for Transocean (NYSE:RIG)

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