Transocean (RIG) Stock Price Up -2%

Shares of Transocean LTD (NYSE:RIG) rose 2% during trading on Thursday . The stock traded as high as $10.47 and last traded at $10.20. Approximately 7,599,568 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 14,429,525 shares. The stock had previously closed at $10.41.

RIG has been the subject of several research reports. ValuEngine downgraded Transocean from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Susquehanna Bancshares set a $11.00 price target on shares of Transocean and gave the company a “hold” rating in a research report on Friday, January 12th. Royal Bank of Canada set a $11.00 price target on shares of Transocean and gave the company a “hold” rating in a research report on Thursday, December 21st. Jefferies Group raised shares of Transocean from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research report on Thursday, January 4th. Finally, Cowen set a $10.00 price target on shares of Transocean and gave the company a “hold” rating in a research report on Thursday, March 15th. Nine equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $11.64.

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The company has a debt-to-equity ratio of 0.56, a current ratio of 3.36 and a quick ratio of 3.06. The stock has a market capitalization of $4,777.30, a price-to-earnings ratio of -1.27 and a beta of 1.62.

Transocean (NYSE:RIG) last posted its quarterly earnings results on Tuesday, February 20th. The offshore drilling services provider reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.03). The company had revenue of $629.00 million during the quarter, compared to the consensus estimate of $619.66 million. Transocean had a negative return on equity of 0.17% and a negative net margin of 105.18%. The company’s revenue for the quarter was down 35.4% compared to the same quarter last year. During the same period last year, the firm posted $0.69 EPS. analysts expect that Transocean LTD will post -0.73 EPS for the current year.

In related news, Director Frederik Wilhelm Mohn purchased 2,000,000 shares of the stock in a transaction that occurred on Friday, March 2nd. The shares were bought at an average price of $9.29 per share, with a total value of $18,580,000.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP David A. Tonnel sold 9,000 shares of Transocean stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $9.39, for a total transaction of $84,510.00. Following the completion of the sale, the senior vice president now directly owns 75,349 shares in the company, valued at approximately $707,527.11. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. Advisors Preferred LLC grew its stake in Transocean by 1,198.9% in the 4th quarter. Advisors Preferred LLC now owns 9,508 shares of the offshore drilling services provider’s stock valued at $102,000 after buying an additional 8,776 shares in the last quarter. Princeton Capital Management LLC purchased a new position in Transocean in the 4th quarter valued at approximately $107,000. Cushing Asset Management LP purchased a new position in Transocean in the 4th quarter valued at approximately $107,000. Bluestein R H & Co. purchased a new position in Transocean in the 4th quarter valued at approximately $108,000. Finally, Suntrust Banks Inc. purchased a new position in Transocean in the 4th quarter valued at approximately $112,000. 63.85% of the stock is currently owned by institutional investors.

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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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