Howard Weil upgraded shares of Transocean Ltd. (NYSE:RIG) from a sector perform rating to a sector outperform rating in a report published on Tuesday morning. The brokerage currently has $14.00 target price on the offshore drilling services provider’s stock, up from their previous target price of $12.00.
Other equities analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Transocean from a hold rating to a buy rating and set a $14.00 price objective for the company in a report on Tuesday, July 5th. KLR Group reiterated a buy rating and set a $19.00 price target on shares of Transocean in a report on Wednesday, June 15th. Vetr upgraded Transocean from a hold rating to a buy rating and set a $10.68 price target for the company in a report on Monday, August 1st. Zephirin Group upgraded Transocean from a hold rating to a buy rating in a report on Monday, September 19th. Finally, Evercore ISI upgraded Transocean from a sell rating to a hold rating and lifted their price target for the stock from $11.00 to $12.00 in a report on Wednesday, June 29th. Ten research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the company’s stock. Transocean presently has an average rating of Hold and a consensus price target of $10.34.
Transocean (NYSE:RIG) opened at 10.07 on Tuesday. The firm has a market cap of $3.68 billion, a PE ratio of 2.94 and a beta of 1.91. Transocean has a 12-month low of $7.67 and a 12-month high of $17.19. The firm has a 50-day moving average price of $9.80 and a 200 day moving average price of $10.33.
Transocean (NYSE:RIG) last announced its quarterly earnings data on Wednesday, August 3rd. The offshore drilling services provider reported $0.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.18. The company earned $943 million during the quarter. Transocean had a return on equity of 8.46% and a net margin of 21.91%. Transocean’s revenue was down 49.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.11 EPS. Equities research analysts forecast that Transocean will post $0.94 EPS for the current year.
Hedge funds have recently modified their holdings of the company. Meiji Yasuda Asset Management Co Ltd. acquired a new stake in shares of Transocean during the first quarter valued at $108,000. Simmons Bank acquired a new stake in shares of Transocean during the first quarter valued at $110,000. Lee Danner & Bass Inc. acquired a new stake in shares of Transocean during the second quarter valued at $119,000. Mariner Wealth Advisors LLC acquired a new stake in shares of Transocean during the second quarter valued at $120,000. Finally, Capstone Investment Advisors LLC acquired a new stake in shares of Transocean during the second quarter valued at $121,000. 71.55% of the stock is currently owned by 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 primarily on a day rate basis to drill oil and gas wells. The Company operates through the contract drilling services segment.
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