Brokerages Set Transocean Ltd. (NYSE:RIG) PT at $6.69

Transocean Ltd. (NYSE:RIG) has received an average recommendation of “Hold” from the nine analysts that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $6.69.

Several equities analysts have recently weighed in on the stock. StockNews.com upgraded shares of Transocean to a “sell” rating in a research report on Thursday, October 10th. Susquehanna dropped their price target on Transocean from $8.00 to $7.00 and set a “positive” rating on the stock in a report on Friday, October 11th. Morgan Stanley raised their price objective on Transocean from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 3rd. DNB Markets raised shares of Transocean from a “hold” rating to a “buy” rating in a research report on Tuesday, September 3rd. Finally, Barclays reduced their price target on shares of Transocean from $6.00 to $4.50 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd.

Transocean Stock Performance

RIG opened at $4.14 on Friday. The business has a 50 day moving average price of $4.43 and a two-hundred day moving average price of $5.14. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.36 and a quick ratio of 1.08. The company has a market capitalization of $3.62 billion, a price-to-earnings ratio of -9.20 and a beta of 2.79. Transocean has a 1-year low of $3.85 and a 1-year high of $7.05.

Transocean (NYSE:RIG) last announced its quarterly earnings data on Wednesday, July 31st. The offshore drilling services provider reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.07). The firm had revenue of $861.00 million during the quarter, compared to analyst estimates of $862.25 million. Transocean had a negative net margin of 11.34% and a negative return on equity of 4.76%. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.15) EPS. Research analysts predict that Transocean will post -0.18 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director (Cyprus) Ltd Perestroika acquired 2,000,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average cost of $5.23 per share, with a total value of $10,460,000.00. Following the purchase, the director now owns 89,574,894 shares of the company’s stock, valued at approximately $468,476,695.62. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director (Cyprus) Ltd Perestroika bought 2,000,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average cost of $5.23 per share, for a total transaction of $10,460,000.00. Following the purchase, the director now owns 89,574,894 shares of the company’s stock, valued at $468,476,695.62. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Perestroika bought 1,500,000 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were purchased at an average cost of $4.13 per share, with a total value of $6,195,000.00. Following the transaction, the director now owns 91,074,894 shares in the company, valued at approximately $376,139,312.22. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 13.16% of the company’s stock.

Institutional Trading of Transocean

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Transocean by 138.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,633 shares of the offshore drilling services provider’s stock worth $25,000 after purchasing an additional 2,693 shares during the period. Nisa Investment Advisors LLC bought a new position in Transocean during the second quarter valued at about $30,000. Fiducient Advisors LLC acquired a new position in Transocean in the 1st quarter valued at approximately $63,000. SG Americas Securities LLC bought a new stake in shares of Transocean in the 2nd quarter worth approximately $64,000. Finally, CWM LLC grew its holdings in shares of Transocean by 36.1% during the 3rd quarter. CWM LLC now owns 17,065 shares of the offshore drilling services provider’s stock worth $73,000 after purchasing an additional 4,529 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

About Transocean

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.