Transocean Ltd. (NYSE:RIG) Stock Has Consensus Target Price of $6.68

Shares of Transocean Ltd. (NYSE:RIG) have been assigned an average recommendation of “Hold” from the eleven research firms that are covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $6.68.

A number of analysts recently commented on RIG shares. Susquehanna decreased their target price on Transocean from $8.00 to $7.00 and set a “positive” rating for the company in a research report on Wednesday, July 8th. Fearnley Fonds upgraded Transocean from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. Barclays reduced their price objective on Transocean from $8.00 to $7.00 and set an “overweight” rating for the company in a research note on Wednesday, August 12th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Transocean in a research report on Friday, July 17th.

Insider Buying and Selling

In other Transocean news, Director Chad Deaton purchased 35,000 shares of the firm’s stock in a transaction on Thursday, July 2nd. The stock was acquired at an average price of $4.95 per share, for a total transaction of $173,250.00. Following the purchase, the director owned 237,421 shares of the company’s stock, valued at $1,175,233.95. This trade represents a 17.29% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 9.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RIG. State Street Corp raised its holdings in shares of Transocean by 8.7% in the 2nd quarter. State Street Corp now owns 27,148,850 shares of the offshore drilling services provider’s stock worth $132,758,000 after acquiring an additional 2,166,646 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in Transocean by 40.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 44,338 shares of the offshore drilling services provider’s stock valued at $217,000 after purchasing an additional 12,734 shares during the last quarter. Arlington Capital Management Inc. acquired a new position in Transocean during the 2nd quarter valued at about $2,613,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Transocean during the 2nd quarter worth approximately $313,000. Finally, Beaconlight Capital LLC raised its stake in shares of Transocean by 199.1% in the second quarter. Beaconlight Capital LLC now owns 977,964 shares of the offshore drilling services provider’s stock worth $4,782,000 after purchasing an additional 651,017 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Transocean Trading Down 0.7%

NYSE:RIG opened at $5.43 on Friday. Transocean has a 12 month low of $3.03 and a 12 month high of $7.66. The company has a current ratio of 1.59, a quick ratio of 1.27 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $6.07 billion, a price-to-earnings ratio of -2.89, a PEG ratio of 4.06 and a beta of 1.34. The firm has a fifty day simple moving average of $5.57 and a two-hundred day simple moving average of $5.93.

Transocean (NYSE:RIG) last announced its quarterly earnings data on Wednesday, August 5th. The offshore drilling services provider reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.02. The firm had revenue of $966.00 million for the quarter, compared to analyst estimates of $956.64 million. Transocean had a negative net margin of 40.24% and a positive return on equity of 2.60%. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.06) earnings per share. Analysts expect that Transocean will post 0.18 EPS for the current fiscal year.

Transocean Company Profile

Transocean Ltd. (NYSE:RIG) is an international offshore contract drilling company that provides drilling services to oil and gas companies. Its primary business is operating mobile offshore drilling units under contracts that support exploration, development and production activities in offshore oil and natural gas fields.

The company’s fleet is focused primarily on ultra-deepwater and harsh-environment drilling units, including drillships and semisubmersible rigs. Transocean provides rig operations, drilling personnel, equipment and related services intended to help customers safely construct and complete offshore wells.

Transocean serves energy companies in major offshore drilling regions around the world.