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

Transocean Ltd. (NYSE:RIG) has earned a consensus rating of “Hold” from the ten analysts that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $7.70.

A number of brokerages have commented on RIG. Bank of America increased their price target on shares of Transocean from $5.50 to $6.00 and gave the company an “underperform” rating in a research report on Monday, April 15th. Benchmark restated a “buy” rating and issued a $8.00 target price on shares of Transocean in a research note on Tuesday, April 30th. Citigroup reduced their price objective on Transocean from $9.00 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, February 21st. Morgan Stanley reduced their target price on Transocean from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Monday, February 26th. Finally, Susquehanna raised Transocean from a “neutral” rating to a “positive” rating and lifted their price objective for the stock from $5.50 to $9.00 in a report on Monday, April 8th.

Transocean Stock Performance

RIG stock opened at $5.73 on Friday. The firm has a market cap of $4.69 billion, a PE ratio of -11.01 and a beta of 2.83. The company has a quick ratio of 1.04, a current ratio of 1.35 and a debt-to-equity ratio of 0.65. The business has a 50 day moving average of $5.81 and a 200-day moving average of $5.90. Transocean has a 12-month low of $4.45 and a 12-month high of $8.88.

Transocean (NYSE:RIG) last posted its earnings results on Monday, April 29th. The offshore drilling services provider reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.10. Transocean had a negative return on equity of 4.67% and a negative net margin of 13.27%. The firm had revenue of $767.00 million for the quarter, compared to the consensus estimate of $781.86 million. During the same quarter in the prior year, the business posted ($0.38) earnings per share. The business’s quarterly revenue was up 18.2% on a year-over-year basis. As a group, sell-side analysts expect that Transocean will post 0.01 earnings per share for the current year.

Institutional Investors Weigh In On Transocean

Institutional investors have recently bought and sold shares of the company. Pekin Hardy Strauss Inc. raised its position in shares of Transocean by 949.5% during the 3rd quarter. Pekin Hardy Strauss Inc. now owns 126,006 shares of the offshore drilling services provider’s stock valued at $1,035,000 after buying an additional 114,000 shares during the period. Lisanti Capital Growth LLC raised its position in Transocean by 299.9% in the third quarter. Lisanti Capital Growth LLC now owns 1,770,822 shares of the offshore drilling services provider’s stock valued at $14,538,000 after purchasing an additional 1,328,032 shares during the period. Janney Montgomery Scott LLC increased its position in shares of Transocean by 180.5% during the third quarter. Janney Montgomery Scott LLC now owns 32,535 shares of the offshore drilling services provider’s stock worth $267,000 after acquiring an additional 20,935 shares during the period. Hosking Partners LLP increased its position in shares of Transocean by 342.7% during the third quarter. Hosking Partners LLP now owns 1,112,543 shares of the offshore drilling services provider’s stock worth $9,134,000 after acquiring an additional 861,209 shares during the period. Finally, B. Riley Wealth Advisors Inc. grew its stake in shares of Transocean by 16.2% during the third quarter. B. Riley Wealth Advisors Inc. now owns 14,371 shares of the offshore drilling services provider’s stock worth $118,000 after purchasing an additional 2,000 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

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.