Transocean (NYSE:RIG) Issues Earnings Results

Transocean (NYSE:RIG) issued its quarterly earnings data on Monday. The offshore drilling services provider reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.11), Zacks reports. Transocean had a negative return on equity of 1.48% and a negative net margin of 18.81%. The firm had revenue of $952.00 million during the quarter, compared to analyst estimates of $962.28 million.

Transocean Stock Down 0.7 %

RIG stock traded down $0.03 during midday trading on Wednesday, reaching $3.53. The company had a trading volume of 5,307,912 shares, compared to its average volume of 25,759,209. Transocean has a 1 year low of $3.38 and a 1 year high of $6.88. The company has a current ratio of 1.64, a quick ratio of 1.34 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $3.09 billion, a P/E ratio of -4.69, a PEG ratio of 0.85 and a beta of 2.70. The company has a 50 day moving average of $3.82 and a two-hundred day moving average of $4.23.

Wall Street Analysts Forecast Growth

RIG has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upgraded shares of Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 target price on the stock in a research note on Friday, December 6th. Barclays upgraded shares of Transocean from an “equal weight” rating to an “overweight” rating and set a $4.50 target price for the company in a research report on Wednesday, December 18th. Evercore ISI cut shares of Transocean from an “outperform” rating to an “in-line” rating and decreased their target price for the stock from $6.00 to $5.00 in a research report on Wednesday, January 15th. Benchmark restated a “hold” rating on shares of Transocean in a research report on Tuesday, December 3rd. Finally, Susquehanna decreased their price objective on shares of Transocean from $7.00 to $6.50 and set a “positive” rating for the company in a report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Transocean presently has a consensus rating of “Hold” and a consensus price target of $5.94.

Insiders Place Their Bets

In other news, EVP Roderick James Mackenzie sold 22,000 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $3.85, for a total transaction of $84,700.00. Following the transaction, the executive vice president now owns 313,072 shares in the company, valued at $1,205,327.20. This represents a 6.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 13.16% 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.