Analysts Set Transocean Ltd. (NYSE:RIG) PT at $7.70

Shares of Transocean Ltd. (NYSE:RIG) have been given a consensus recommendation of “Hold” by the ten analysts that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $7.70.

RIG has been the topic of several research reports. Morgan Stanley dropped their target price on shares of Transocean from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Monday, February 26th. StockNews.com upgraded shares of Transocean to a “sell” rating in a report on Tuesday, February 20th. Benchmark restated a “buy” rating and issued a $8.00 target price on shares of Transocean in a report on Tuesday, April 30th. Bank of America raised their target price on shares of Transocean from $5.50 to $6.00 and gave the stock an “underperform” rating in a report on Monday, April 15th. Finally, Citigroup dropped their target price on shares of Transocean from $9.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, February 21st.

Transocean Price Performance

Shares of RIG opened at $5.57 on Friday. The company has a market capitalization of $4.57 billion, a P/E ratio of -10.71 and a beta of 2.83. The company has a quick ratio of 1.22, a current ratio of 1.35 and a debt-to-equity ratio of 0.65. The firm has a 50 day moving average of $5.77 and a 200 day moving average of $5.93. Transocean has a twelve month low of $4.45 and a twelve month high of $8.88.

Transocean (NYSE:RIG) last announced its quarterly earnings results on Monday, April 29th. The offshore drilling services provider reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.10. The company had revenue of $767.00 million during the quarter, compared to the consensus estimate of $781.86 million. Transocean had a negative net margin of 13.27% and a negative return on equity of 4.67%. The firm’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.38) earnings per share. As a group, equities research analysts anticipate that Transocean will post 0.01 earnings per share for the current fiscal year.

Institutional Trading of Transocean

Several institutional investors and hedge funds have recently modified their holdings of the company. Murphy Pohlad Asset Management LLC raised its position in shares of Transocean by 1.7% during the 1st quarter. Murphy Pohlad Asset Management LLC now owns 96,150 shares of the offshore drilling services provider’s stock valued at $604,000 after purchasing an additional 1,600 shares during the period. Traynor Capital Management Inc. increased its holdings in Transocean by 5.2% in the 1st quarter. Traynor Capital Management Inc. now owns 33,257 shares of the offshore drilling services provider’s stock valued at $209,000 after acquiring an additional 1,650 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its holdings in Transocean by 16.2% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 14,371 shares of the offshore drilling services provider’s stock valued at $118,000 after acquiring an additional 2,000 shares during the last quarter. 180 Wealth Advisors LLC increased its holdings in Transocean by 7.4% in the 4th quarter. 180 Wealth Advisors LLC now owns 31,496 shares of the offshore drilling services provider’s stock valued at $197,000 after acquiring an additional 2,170 shares during the last quarter. Finally, Fisher Asset Management LLC increased its holdings in Transocean by 11.0% in the 4th quarter. Fisher Asset Management LLC now owns 27,714 shares of the offshore drilling services provider’s stock valued at $176,000 after acquiring an additional 2,743 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.

Transocean Company Profile

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.