Transocean Ltd. (NYSE:RIG) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Transocean Ltd. (NYSE:RIG) have been assigned an average rating of “Hold” from the ten brokerages that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $4.2556.

A number of equities research analysts have recently commented on RIG shares. Barclays increased their price objective on shares of Transocean from $3.50 to $4.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Transocean in a report on Wednesday, October 8th. Finally, Wall Street Zen raised Transocean from a “sell” rating to a “hold” rating in a research report on Sunday, August 10th.

Insider Activity

In related news, Director (Cyprus) Ltd Perestroika bought 4,000,000 shares of the business’s stock in a transaction that occurred on Friday, September 26th. The shares were acquired at an average cost of $3.05 per share, with a total value of $12,200,000.00. Following the completion of the purchase, the director directly owned 95,074,894 shares in the company, valued at $289,978,426.70. The trade was a 4.39% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Frederik Wilhelm Mohn purchased 4,000,000 shares of the firm’s stock in a transaction on Friday, September 26th. The stock was bought at an average cost of $3.05 per share, with a total value of $12,200,000.00. Following the completion of the purchase, the director owned 95,074,894 shares of the company’s stock, valued at approximately $289,978,426.70. This represents a 4.39% increase in their position. The disclosure for this purchase is available in the SEC filing. 12.27% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Transocean

Large investors have recently bought and sold shares of the stock. Arizona State Retirement System lifted its position in shares of Transocean by 31.4% during the 3rd quarter. Arizona State Retirement System now owns 288,006 shares of the offshore drilling services provider’s stock worth $899,000 after buying an additional 68,901 shares in the last quarter. Benedict Financial Advisors Inc. purchased a new stake in shares of Transocean during the 3rd quarter valued at $31,000. New York State Common Retirement Fund increased its holdings in Transocean by 4.4% during the third quarter. New York State Common Retirement Fund now owns 2,344,360 shares of the offshore drilling services provider’s stock worth $7,314,000 after buying an additional 98,469 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its position in Transocean by 3.6% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 216,448 shares of the offshore drilling services provider’s stock worth $675,000 after acquiring an additional 7,441 shares during the period. Finally, Trek Financial LLC purchased a new position in Transocean in the third quarter valued at about $5,162,000. 67.73% of the stock is currently owned by institutional investors.

Transocean Stock Up 3.0%

Shares of NYSE:RIG opened at $3.96 on Tuesday. The firm has a market cap of $3.73 billion, a P/E ratio of -1.21 and a beta of 2.68. Transocean has a 12-month low of $1.97 and a 12-month high of $4.74. The business has a fifty day simple moving average of $3.35 and a 200 day simple moving average of $2.95. The company has a quick ratio of 0.99, a current ratio of 1.26 and a debt-to-equity ratio of 0.63.

Transocean (NYSE:RIG) last posted its quarterly earnings data on Wednesday, October 29th. The offshore drilling services provider reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. The company had revenue of ($1,894.00) million for the quarter, compared to analyst estimates of $1.01 billion. Transocean had a positive return on equity of 0.43% and a negative net margin of 75.71%.The firm’s quarterly revenue was up 8.4% on a year-over-year basis. Analysts predict that Transocean will post 0.14 earnings per share for the current year.

About Transocean

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.