Analysts Set Transocean Ltd. (RIG) Price Target at $12.09
Shares of Transocean Ltd. (NYSE:RIG) have earned a consensus rating of “Hold” from the forty ratings firms that are presently covering the stock, MarketBeat reports. Ten investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have given a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $12.16.
A number of equities analysts recently commented on RIG shares. Credit Suisse Group reiterated a “buy” rating on shares of Transocean in a report on Wednesday, July 19th. Wells Fargo & Company reiterated a “market perform” rating on shares of Transocean in a report on Saturday, July 22nd. Seaport Global Securities reiterated a “sell” rating on shares of Transocean in a report on Wednesday, July 26th. Zacks Investment Research upgraded Transocean from a “hold” rating to a “buy” rating and set a $9.50 price target for the company in a report on Wednesday, August 2nd. Finally, Barclays PLC set a $9.00 price target on Transocean and gave the stock a “sell” rating in a report on Sunday, August 6th.
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Shares of Transocean (NYSE RIG) traded down $0.24 during midday trading on Monday, hitting $10.23. The stock had a trading volume of 9,886,289 shares, compared to its average volume of 14,091,361. The company has a market cap of $4,000.00, a PE ratio of 13.39 and a beta of 1.81. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.36 and a quick ratio of 2.13. Transocean has a 12 month low of $7.20 and a 12 month high of $16.66.
Transocean (NYSE:RIG) last posted its quarterly earnings results on Wednesday, November 1st. The offshore drilling services provider reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.20. Transocean had a positive return on equity of 2.10% and a negative net margin of 84.09%. The business had revenue of $808.00 million during the quarter, compared to analysts’ expectations of $703.13 million. During the same quarter last year, the company posted $0.25 earnings per share. Transocean’s quarterly revenue was down 10.8% on a year-over-year basis. sell-side analysts anticipate that Transocean will post -0.34 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Ameritas Investment Partners Inc. grew its stake in shares of Transocean by 1,158.9% during the third quarter. Ameritas Investment Partners Inc. now owns 116,800 shares of the offshore drilling services provider’s stock worth $953,000 after buying an additional 107,522 shares during the last quarter. Sterling Capital Management LLC grew its stake in shares of Transocean by 210.7% during the third quarter. Sterling Capital Management LLC now owns 369,684 shares of the offshore drilling services provider’s stock worth $3,978,000 after buying an additional 250,691 shares during the last quarter. California Public Employees Retirement System grew its stake in shares of Transocean by 25.7% during the third quarter. California Public Employees Retirement System now owns 958,185 shares of the offshore drilling services provider’s stock worth $10,310,000 after buying an additional 195,985 shares during the last quarter. Cubist Systematic Strategies LLC grew its stake in shares of Transocean by 30.5% during the third quarter. Cubist Systematic Strategies LLC now owns 25,106 shares of the offshore drilling services provider’s stock worth $270,000 after buying an additional 5,872 shares during the last quarter. Finally, Alyeska Investment Group L.P. bought a new stake in shares of Transocean during the third quarter worth $26,661,000. 70.31% of the stock is currently owned by hedge funds and other institutional investors.
Transocean Company Profile
Transocean Ltd. is an international provider of offshore contract drilling services for oil and gas wells. The Company’s primary business is to contract its drilling rigs, related equipment and work crews on a dayrate basis to drill oil and gas wells. As of February 9, 2017, it owned or had partial ownership interests in and operated 56 mobile offshore drilling units.
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