Transocean Ltd. (NYSE:RIG) Receives $4.59 Consensus Target Price from Analysts

Transocean Ltd. (NYSE:RIG) has been given an average recommendation of “Hold” by the nine research firms that are presently covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $4.59.

Several research firms have recently weighed in on RIG. TD Cowen decreased their price target on shares of Transocean from $6.50 to $5.50 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Citigroup reduced their price target on shares of Transocean from $4.50 to $3.50 and set a “neutral” rating for the company in a report on Wednesday, March 19th. Barclays lowered their target price on Transocean from $4.00 to $3.50 and set an “overweight” rating for the company in a report on Monday, April 7th. SEB Equity Research set a $2.80 price objective on Transocean in a research report on Wednesday, March 5th. Finally, Evercore ISI lowered shares of Transocean from an “outperform” rating to an “in-line” rating and decreased their price target for the company from $6.00 to $5.00 in a research report on Wednesday, January 15th.

Insider Activity at Transocean

In related news, EVP Roderick James Mackenzie sold 22,000 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $3.85, for a total value of $84,700.00. Following the completion of the sale, the executive vice president now owns 313,072 shares of the company’s stock, valued at approximately $1,205,327.20. The trade was a 6.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 13.16% of the company’s stock.

Institutional Investors Weigh In On Transocean

Several institutional investors have recently bought and sold shares of RIG. American Century Companies Inc. grew its stake in Transocean by 51.5% during the 4th quarter. American Century Companies Inc. now owns 19,257,437 shares of the offshore drilling services provider’s stock valued at $72,215,000 after acquiring an additional 6,542,271 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Transocean during the fourth quarter worth $16,608,000. SIR Capital Management L.P. purchased a new stake in Transocean in the 4th quarter valued at $14,976,000. Van ECK Associates Corp increased its stake in shares of Transocean by 33.9% in the 4th quarter. Van ECK Associates Corp now owns 15,393,873 shares of the offshore drilling services provider’s stock worth $57,727,000 after acquiring an additional 3,895,880 shares during the last quarter. Finally, Madison Investment Advisors LLC acquired a new position in shares of Transocean during the 4th quarter valued at about $11,156,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Transocean Stock Up 5.3 %

NYSE RIG opened at $2.28 on Friday. Transocean has a 52 week low of $1.97 and a 52 week high of $6.38. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of -3.12, a PEG ratio of 0.86 and a beta of 2.29. The company has a quick ratio of 1.34, a current ratio of 1.47 and a debt-to-equity ratio of 0.60. The company has a fifty day moving average of $2.92 and a two-hundred day moving average of $3.67.

Transocean (NYSE:RIG) last released its earnings results on Monday, February 17th. The offshore drilling services provider reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.11). Transocean had a negative net margin of 14.53% and a negative return on equity of 0.52%. The business had revenue of $952.00 million for the quarter, compared to the consensus estimate of $962.28 million. On average, analysts predict that Transocean will post 0.14 earnings per share for the current year.

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.