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

Transocean Ltd. (NYSE:RIGGet Rating) has been assigned an average rating of “Moderate Buy” from the nine ratings firms that are presently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $4.42.

A number of research analysts recently issued reports on RIG shares. BTIG Research upgraded shares of Transocean from a “neutral” rating to a “buy” rating in a report on Tuesday, September 6th. TheStreet raised shares of Transocean from a “d+” rating to a “c-” rating in a research note on Monday, November 14th. Piper Sandler lifted their price target on shares of Transocean from $4.00 to $5.00 and gave the company a “neutral” rating in a research note on Friday, November 18th. StockNews.com raised shares of Transocean from a “sell” rating to a “hold” rating in a research note on Friday, November 4th. Finally, Susquehanna Bancshares cut their price target on shares of Transocean from $4.20 to $3.30 and set a “neutral” rating on the stock in a research note on Monday, October 17th.

Institutional Trading of Transocean

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Transocean by 9.4% in the third quarter. Vanguard Group Inc. now owns 60,315,980 shares of the offshore drilling services provider’s stock worth $148,981,000 after purchasing an additional 5,165,717 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Transocean by 7.4% in the first quarter. Van ECK Associates Corp now owns 34,889,662 shares of the offshore drilling services provider’s stock worth $159,446,000 after purchasing an additional 2,413,968 shares in the last quarter. Contrarius Investment Management Ltd lifted its position in shares of Transocean by 19.6% in the third quarter. Contrarius Investment Management Ltd now owns 27,698,403 shares of the offshore drilling services provider’s stock worth $68,415,000 after purchasing an additional 4,547,493 shares in the last quarter. BlackRock Inc. raised its position in Transocean by 15.4% during the first quarter. BlackRock Inc. now owns 14,750,703 shares of the offshore drilling services provider’s stock worth $67,413,000 after acquiring an additional 1,972,278 shares in the last quarter. Finally, Two Sigma Investments LP raised its position in Transocean by 28.8% during the third quarter. Two Sigma Investments LP now owns 14,107,523 shares of the offshore drilling services provider’s stock worth $34,846,000 after acquiring an additional 3,152,134 shares in the last quarter. Institutional investors own 65.64% of the company’s stock.

Transocean Stock Down 0.5 %

Shares of NYSE RIG opened at $4.07 on Friday. The stock has a market cap of $2.94 billion, a P/E ratio of -5.09 and a beta of 2.88. The firm has a 50 day moving average price of $3.41 and a 200 day moving average price of $3.51. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.38 and a current ratio of 1.64. Transocean has a 52-week low of $2.32 and a 52-week high of $5.56.

Transocean (NYSE:RIGGet Rating) last issued its quarterly earnings data on Wednesday, November 2nd. The offshore drilling services provider reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.08. The firm had revenue of $691.00 million during the quarter, compared to analysts’ expectations of $665.24 million. Transocean had a negative net margin of 20.50% and a negative return on equity of 3.74%. The business’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.19) earnings per share. Analysts expect that Transocean will post -0.58 EPS for the current year.

Transocean Company Profile

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Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts its mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. As of February 14, 2022, the company had partial ownership interests in and operated a fleet of 37 mobile offshore drilling units, including 27 ultra-deep water and 10 harsh environment floaters.

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Analyst Recommendations for Transocean (NYSE:RIG)

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