Transocean LTD (NYSE:RIG) shares traded down 8.4% on Thursday . The stock traded as low as $10.43 and last traded at $10.49. 13,762,456 shares traded hands during mid-day trading, a decline of 3% from the average session volume of 14,260,977 shares. The stock had previously closed at $11.45.

Several research analysts recently weighed in on the stock. ValuEngine downgraded shares of Transocean from a “buy” rating to a “hold” rating in a research note on Thursday. DNB Markets raised shares of Transocean from a “sell” rating to a “hold” rating in a research note on Tuesday, October 30th. UBS Group raised shares of Transocean from an “accumulate” rating to a “buy” rating in a research note on Thursday, October 18th. Johnson Rice raised shares of Transocean from a “sell” rating to a “hold” rating and set a $16.00 target price for the company in a research note on Wednesday, October 17th. Finally, Cowen assumed coverage on shares of Transocean in a research note on Saturday, October 13th. They issued a “hold” rating and a $12.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Transocean currently has a consensus rating of “Hold” and a consensus target price of $13.79.

The company has a current ratio of 3.07, a quick ratio of 2.77 and a debt-to-equity ratio of 0.75. The company has a market cap of $5.29 billion, a P/E ratio of -175.50 and a beta of 1.60.

Transocean (NYSE:RIG) last posted its quarterly earnings data on Monday, October 29th. The offshore drilling services provider reported $0.06 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.16. Transocean had a negative net margin of 64.33% and a negative return on equity of 2.31%. The company had revenue of $816.00 million during the quarter, compared to the consensus estimate of $779.19 million. During the same quarter in the prior year, the company posted $0.16 EPS. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, research analysts predict that Transocean LTD will post -0.75 earnings per share for the current year.

In related news, Director Vincent J. Intrieri acquired 10,000 shares of the company’s stock in a transaction dated Thursday, August 16th. The stock was bought at an average price of $10.62 per share, with a total value of $106,200.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $106,200. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Stratos Wealth Partners LTD. acquired a new stake in Transocean during the 3rd quarter worth approximately $105,000. Flagship Harbor Advisors LLC acquired a new stake in Transocean during the 2nd quarter worth approximately $101,000. Mobius Capital Management LLC acquired a new stake in Transocean during the 3rd quarter worth approximately $112,000. MinichMacGregor Wealth Management LLC increased its position in Transocean by 100.0% during the 3rd quarter. MinichMacGregor Wealth Management LLC now owns 10,000 shares of the offshore drilling services provider’s stock worth $141,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new stake in Transocean during the 2nd quarter worth approximately $167,000. 70.86% of the stock is owned by institutional investors.

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Transocean Company Profile (NYSE:RIG)

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. The company primarily offers deepwater and harsh environment drilling services. As of February 20, 2018, it owned or had partial ownership interests in, and operated 47 mobile offshore drilling units that consist of 27 ultra-deepwater floaters, 12 harsh environment floaters, 2 deepwater floaters, 6 midwater floaters, and 2 high-specification jackups.

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