Transocean Ltd. (NYSE:RIG) Receives $7.70 Consensus Target Price from Analysts

Transocean Ltd. (NYSE:RIG) has been assigned an average rating of “Hold” from the ten research firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $7.70.

RIG has been the topic of a number of recent research reports. Bank of America raised their target price on Transocean from $5.50 to $6.00 and gave the stock an “underperform” rating in a report on Monday, April 15th. Morgan Stanley reduced their target price on shares of Transocean from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Monday, February 26th. Evercore ISI lowered their price target on shares of Transocean from $9.00 to $7.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Barclays reduced their price objective on shares of Transocean from $7.00 to $6.00 and set an “equal weight” rating for the company in a research note on Thursday, February 22nd. Finally, Citigroup cut their price target on Transocean from $9.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, February 21st.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. HBK Sorce Advisory LLC boosted its stake in shares of Transocean by 91.3% during the 1st quarter. HBK Sorce Advisory LLC now owns 20,955 shares of the offshore drilling services provider’s stock worth $132,000 after purchasing an additional 10,000 shares during the period. Russell Investments Group Ltd. lifted its stake in Transocean by 76.9% in the first quarter. Russell Investments Group Ltd. now owns 402,839 shares of the offshore drilling services provider’s stock worth $2,530,000 after purchasing an additional 175,130 shares during the last quarter. Meeder Advisory Services Inc. purchased a new position in shares of Transocean during the first quarter valued at approximately $90,000. Swiss National Bank grew its stake in shares of Transocean by 3.6% during the first quarter. Swiss National Bank now owns 1,437,730 shares of the offshore drilling services provider’s stock valued at $9,029,000 after buying an additional 49,800 shares during the last quarter. Finally, Lisanti Capital Growth LLC grew its stake in shares of Transocean by 685.6% during the first quarter. Lisanti Capital Growth LLC now owns 713,390 shares of the offshore drilling services provider’s stock valued at $4,480,000 after buying an additional 622,580 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Transocean Stock Performance

Shares of RIG opened at $5.88 on Friday. The firm has a market capitalization of $4.82 billion, a P/E ratio of -11.31 and a beta of 2.83. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.35 and a quick ratio of 1.04. Transocean has a one year low of $4.45 and a one year high of $8.88. The business has a fifty day moving average of $5.85 and a 200 day moving average of $5.90.

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