Transocean (RIG) Stock Price Up -3.1%

Shares of Transocean LTD (NYSE:RIG) rose 3.1% during mid-day trading on Friday . The company traded as high as $11.94 and last traded at $11.43. Approximately 8,512,811 shares traded hands during trading, a decline of 44% from the average daily volume of 15,082,733 shares. The stock had previously closed at $11.79.

RIG has been the subject of several research reports. ValuEngine downgraded shares of Transocean from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. Zacks Investment Research downgraded shares of Transocean from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Nordea Equity Research reiterated a “buy” rating and issued a $14.00 target price on shares of Transocean in a report on Saturday, September 30th. Jefferies Group reiterated a “hold” rating and issued a $9.00 target price on shares of Transocean in a report on Friday, September 22nd. Finally, initiated coverage on shares of Transocean in a report on Thursday, October 19th. They issued a “hold” rating and a $12.00 target price for the company. Eleven analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $12.19.

The stock has a market capitalization of $4,530.00, a PE ratio of -1.61 and a beta of 1.79. The company has a current ratio of 2.36, a quick ratio of 2.13 and a debt-to-equity ratio of 0.51.

Transocean (NYSE:RIG) last announced its quarterly earnings results on Wednesday, November 1st. The offshore drilling services provider reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.20. Transocean had a negative net margin of 84.09% and a positive return on equity of 2.10%. The firm had revenue of $808.00 million during the quarter, compared to analysts’ expectations of $703.13 million. During the same period in the previous year, the company earned $0.25 earnings per share. Transocean’s quarterly revenue was down 10.8% compared to the same quarter last year. analysts anticipate that Transocean LTD will post -0.34 EPS for the current fiscal year.

Large investors have recently made changes to their positions in the company. Public Employees Retirement Association of Colorado raised its holdings in shares of Transocean by 12.7% in the second quarter. Public Employees Retirement Association of Colorado now owns 12,340 shares of the offshore drilling services provider’s stock valued at $102,000 after buying an additional 1,394 shares during the last quarter. Dumont & Blake Investment Advisors LLC purchased a new stake in shares of Transocean in the third quarter valued at about $108,000. Capstone Investment Advisors Netherlands B.V. purchased a new stake in shares of Transocean in the second quarter valued at about $111,000. Saratoga Research & Investment Management purchased a new stake in shares of Transocean in the third quarter valued at about $115,000. Finally, WFG Advisors LP raised its holdings in shares of Transocean by 60.3% in the second quarter. WFG Advisors LP now owns 14,194 shares of the offshore drilling services provider’s stock valued at $117,000 after buying an additional 5,338 shares during the last quarter. 72.88% of the stock is owned by institutional investors and hedge funds.

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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 on a dayrate basis to drill oil and gas wells. As of February 9, 2017, it owned or had partial ownership interests in and operated 56 mobile offshore drilling units.

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