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

Transocean Ltd. (NYSE:RIG – Get Rating) has earned a consensus recommendation of “Hold” from the ten analysts that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $6.04.

Several brokerages have issued reports on RIG. StockNews.com lowered Transocean from a “hold” rating to a “sell” rating in a research note on Friday, February 17th. TheStreet raised Transocean from a “d+” rating to a “c-” rating in a research note on Monday, November 14th. Susquehanna upped their target price on Transocean from $5.50 to $6.00 and gave the stock a “neutral” rating in a research note on Thursday, February 23rd. Piper Sandler increased their price objective on Transocean from $4.00 to $5.00 and gave the company a “neutral” rating in a research note on Friday, November 18th. Finally, Barclays dropped their price objective on Transocean from $7.00 to $6.00 in a research note on Thursday, February 23rd.

Insider Buying and Selling

In related news, CAO David A. Tonnel sold 34,267 shares of the firm’s stock in a transaction on Tuesday, January 10th. The stock was sold at an average price of $5.45, for a total value of $186,755.15. Following the completion of the sale, the chief accounting officer now owns 291,608 shares of the company’s stock, valued at $1,589,263.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Transocean news, COO Keelan Adamson sold 50,026 shares of the stock in a transaction on Monday, February 13th. The stock was sold at an average price of $7.15, for a total value of $357,685.90. Following the completion of the transaction, the chief operating officer now owns 342,549 shares in the company, valued at $2,449,225.35. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO David A. Tonnel sold 34,267 shares of the stock in a transaction on Tuesday, January 10th. The stock was sold at an average price of $5.45, for a total value of $186,755.15. Following the completion of the transaction, the chief accounting officer now owns 291,608 shares of the company’s stock, valued at approximately $1,589,263.60. The disclosure for this sale can be found here. Insiders sold 111,903 shares of company stock valued at $698,560 over the last quarter. 12.29% of the stock is owned by company insiders.

Hedge Funds Weigh In On Transocean

Institutional investors have recently added to or reduced their stakes in the company. Lindbrook Capital LLC raised its holdings in Transocean by 59.9% in the fourth quarter. Lindbrook Capital LLC now owns 5,440 shares of the offshore drilling services provider’s stock worth $25,000 after purchasing an additional 2,037 shares in the last quarter. Independence Bank of Kentucky bought a new position in shares of Transocean during the fourth quarter valued at $27,000. Belpointe Asset Management LLC bought a new position in shares of Transocean during the fourth quarter valued at $31,000. Citizens Business Bank bought a new position in shares of Transocean during the third quarter valued at $25,000. Finally, Transparent Wealth Partners LLC bought a new position in shares of Transocean during the third quarter valued at $25,000. Institutional investors own 55.16% of the company’s stock.

Transocean Stock Up 2.0 %

RIG stock opened at $7.51 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.04 and a debt-to-equity ratio of 0.61. The company’s 50 day moving average is $6.22 and its 200 day moving average is $4.53. The stock has a market cap of $5.45 billion, a price-to-earnings ratio of -8.53 and a beta of 2.90. Transocean has a 1-year low of $2.32 and a 1-year high of $7.69.

Transocean (NYSE:RIG – Get Rating) last issued its earnings results on Tuesday, February 21st. The offshore drilling services provider reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.30). The firm had revenue of $606.00 million during the quarter, compared to analysts’ expectations of $620.89 million. Transocean had a negative return on equity of 5.85% and a negative net margin of 24.12%. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.19) EPS. Sell-side analysts predict that Transocean will post -0.25 EPS for the current fiscal year.

About Transocean

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Transocean Ltd. engages in the provision of offshore contract drilling services for oil and gas wells. It also owns and operates offshore drilling fleets such as ultra-deepwater, harsh environment, deepwater, and midwater rigs. The company was founded in 1953 and is headquartered in Steinhausen, Switzerland.