Brokerages Set Transocean LTD (RIG) Price Target at $13.90

Shares of Transocean LTD (NYSE:RIG) have earned a consensus recommendation of “Hold” from the twenty-two research firms that are currently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $13.90.

Several research firms recently issued reports on RIG. Fearnley Fonds cut shares of Transocean from a “buy” rating to an “accumulate” rating in a research note on Wednesday, August 1st. ValuEngine upgraded shares of Transocean from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 2nd. Tudor Pickering upgraded shares of Transocean from a “hold” rating to a “buy” rating in a research note on Thursday, July 12th. Wells Fargo & Co upgraded shares of Transocean from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $13.00 to $16.00 in a research note on Wednesday, September 19th. Finally, Susquehanna Bancshares upgraded shares of Transocean from a “neutral” rating to a “positive” rating and boosted their target price for the company from $11.00 to $16.00 in a research note on Monday, July 9th.

In related news, Director Vincent J. Intrieri acquired 10,000 shares of Transocean stock in a transaction on Thursday, August 16th. The stock was bought at an average cost of $10.62 per share, for a total transaction of $106,200.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at approximately $106,200. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 14.09% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Louisiana State Employees Retirement System raised its position in shares of Transocean by 3.5% in the second quarter. Louisiana State Employees Retirement System now owns 118,500 shares of the offshore drilling services provider’s stock valued at $1,593,000 after buying an additional 4,000 shares during the last quarter. NumerixS Investment Technologies Inc grew its holdings in shares of Transocean by 6.8% in the second quarter. NumerixS Investment Technologies Inc now owns 75,948 shares of the offshore drilling services provider’s stock valued at $1,018,000 after purchasing an additional 4,848 shares during the period. MinichMacGregor Wealth Management LLC grew its holdings in shares of Transocean by 100.0% in the third quarter. MinichMacGregor Wealth Management LLC now owns 10,000 shares of the offshore drilling services provider’s stock valued at $141,000 after purchasing an additional 5,000 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Transocean by 5.9% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 93,379 shares of the offshore drilling services provider’s stock valued at $1,255,000 after purchasing an additional 5,201 shares during the period. Finally, Private Advisor Group LLC grew its holdings in shares of Transocean by 34.8% in the third quarter. Private Advisor Group LLC now owns 22,729 shares of the offshore drilling services provider’s stock valued at $317,000 after purchasing an additional 5,870 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Shares of RIG traded up $0.14 during trading hours on Monday, hitting $11.03. The stock had a trading volume of 9,254,107 shares, compared to its average volume of 14,288,327. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.07 and a quick ratio of 2.77. Transocean has a fifty-two week low of $8.70 and a fifty-two week high of $14.47. The stock has a market cap of $5.03 billion, a P/E ratio of -183.83 and a beta of 1.60.

Transocean (NYSE:RIG) last posted its earnings results on Monday, October 29th. The offshore drilling services provider reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.16. Transocean had a negative net margin of 64.33% and a negative return on equity of 2.31%. The firm had revenue of $816.00 million during the quarter, compared to analysts’ expectations of $779.19 million. During the same period in the previous year, the business posted $0.16 EPS. The business’s revenue was up 1.0% compared to the same quarter last year. Equities analysts expect that Transocean will post -0.78 EPS for the current year.

About Transocean

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. The company primarily offers deepwater and harsh environment drilling services. As of February 20, 2018, it owned or had partial ownership interests in, and operated 47 mobile offshore drilling units that consist of 27 ultra-deepwater floaters, 12 harsh environment floaters, 2 deepwater floaters, 6 midwater floaters, and 2 high-specification jackups.

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Analyst Recommendations for Transocean (NYSE:RIG)

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