Brokerages Set Transocean Ltd. (NYSE:RIG) Price Target at $8.06

Shares of Transocean Ltd. (NYSE:RIG) have earned a consensus rating of “Moderate Buy” from the eight brokerages that are presently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $8.50.

Several research analysts recently weighed in on the company. Barclays decreased their target price on Transocean from $7.00 to $6.00 and set an “equal weight” rating for the company in a research note on Thursday, February 22nd. Citigroup decreased their target price on Transocean from $9.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, February 21st. Susquehanna raised Transocean from a “neutral” rating to a “positive” rating and raised their target price for the company from $5.50 to $9.00 in a research note on Monday. StockNews.com raised Transocean to a “sell” rating in a research note on Tuesday, February 20th. Finally, Morgan Stanley decreased their target price on Transocean from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Monday, February 26th.

Transocean Trading Up 0.8 %

NYSE:RIG opened at $6.43 on Monday. Transocean has a 1 year low of $4.45 and a 1 year high of $8.88. The stock has a market cap of $5.27 billion, a price-to-earnings ratio of -5.06 and a beta of 2.78. The business has a fifty day moving average of $5.53 and a 200-day moving average of $6.18. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.22 and a current ratio of 1.52.

Transocean (NYSE:RIG) last released its quarterly earnings results on Monday, February 19th. The offshore drilling services provider reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.12. Transocean had a negative return on equity of 7.13% and a negative net margin of 33.69%. The company had revenue of $741.00 million during the quarter, compared to analysts’ expectations of $779.17 million. During the same quarter in the prior year, the business posted ($0.49) earnings per share. Equities analysts predict that Transocean will post 0.09 earnings per share for the current year.

Institutional Investors Weigh In On Transocean

Several hedge funds have recently modified their holdings of the stock. OLD Point Trust & Financial Services N A purchased a new stake in Transocean in the 4th quarter worth about $25,000. Tower Research Capital LLC TRC lifted its stake in Transocean by 446.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 10,996 shares of the offshore drilling services provider’s stock worth $27,000 after acquiring an additional 8,984 shares in the last quarter. VisionPoint Advisory Group LLC purchased a new stake in Transocean in the 4th quarter worth about $28,000. IHT Wealth Management LLC lifted its stake in Transocean by 38.8% in the 3rd quarter. IHT Wealth Management LLC now owns 16,895 shares of the offshore drilling services provider’s stock worth $42,000 after acquiring an additional 4,719 shares in the last quarter. Finally, National Bank of Canada FI lifted its stake in Transocean by 3,800.0% in the 3rd quarter. National Bank of Canada FI now owns 5,850 shares of the offshore drilling services provider’s stock worth $46,000 after acquiring an additional 5,700 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

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.