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

Transocean Ltd. (NYSE:RIG) has been given a consensus rating of “Hold” by the seven research firms that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two 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 a report on the stock in the last year is $4.3833.

A number of brokerages recently commented on RIG. Citigroup raised their price objective on shares of Transocean from $4.25 to $4.50 and gave the stock a “neutral” rating in a report on Thursday, December 11th. Barclays boosted their price target on Transocean from $4.00 to $4.50 and gave the company an “overweight” rating in a report on Wednesday, November 5th. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Transocean in a research report on Wednesday, December 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Transocean in a research report on Wednesday, October 8th. Finally, Susquehanna upped their price target on Transocean from $4.50 to $5.00 and gave the stock a “positive” rating in a research report on Wednesday, January 7th.

Insider Transactions at Transocean

In other Transocean news, EVP Robert Thaddeus Vayda sold 30,000 shares of the business’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $4.29, for a total transaction of $128,700.00. Following the sale, the executive vice president directly owned 235,154 shares of the company’s stock, valued at $1,008,810.66. The trade was a 11.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Perestroika bought 1,500,000 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was bought at an average cost of $4.02 per share, for a total transaction of $6,030,000.00. Following the transaction, the director owned 96,574,894 shares of the company’s stock, valued at $388,231,073.88. The trade was a 1.58% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders sold 726,148 shares of company stock worth $3,115,783. 12.27% of the stock is owned by insiders.

Hedge Funds Weigh In On Transocean

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Transocean by 19.3% in the 3rd quarter. Vanguard Group Inc. now owns 94,519,248 shares of the offshore drilling services provider’s stock worth $294,900,000 after purchasing an additional 15,315,289 shares during the period. American Century Companies Inc. boosted its stake in shares of Transocean by 12.8% in the 3rd quarter. American Century Companies Inc. now owns 26,456,554 shares of the offshore drilling services provider’s stock worth $82,544,000 after buying an additional 3,006,786 shares during the last quarter. Dalal Street LLC bought a new stake in shares of Transocean in the third quarter worth $76,260,000. Two Sigma Investments LP increased its position in Transocean by 0.3% during the third quarter. Two Sigma Investments LP now owns 18,636,188 shares of the offshore drilling services provider’s stock valued at $58,145,000 after acquiring an additional 64,305 shares during the last quarter. Finally, Ghisallo Capital Management LLC bought a new position in Transocean in the third quarter valued at about $57,720,000. 67.73% of the stock is owned by institutional investors.

Transocean Stock Down 2.1%

Shares of Transocean stock opened at $4.25 on Friday. The company has a market capitalization of $4.68 billion, a P/E ratio of -1.30 and a beta of 1.36. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.08 and a quick ratio of 0.91. The business has a 50-day moving average of $4.17 and a two-hundred day moving average of $3.53. Transocean has a 1 year low of $1.97 and a 1 year high of $4.56.

Transocean (NYSE:RIG) last issued its quarterly earnings data on Wednesday, October 29th. The offshore drilling services provider reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.02. The business had revenue of ($1,894.00) million during the quarter, compared to analyst estimates of $1.01 billion. Transocean had a positive return on equity of 0.45% and a negative net margin of 75.71%.Transocean’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, equities analysts predict that Transocean will post 0.14 EPS for the current year.

Transocean Company Profile

Transocean Ltd. is a leading international provider of offshore contract drilling services for the oil and gas industry. The company specializes in the operation of mobile drilling units, including ultra-deepwater drillships, semisubmersible rigs and high-specification jackup rigs. Transocean’s fleet is designed to meet complex drilling requirements, from ultra-deepwater well construction to shelf exploration and development projects.

The company’s core services encompass the full spectrum of offshore drilling operations, including project and engineering management, marine operations, drilling supervision, and maintenance support.