Transocean LTD (RIG) Receives Average Rating of “Hold” from Analysts

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Shares of Transocean LTD (NYSE:RIG) have earned a consensus rating of “Hold” from the twenty-one ratings firms that are covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and twelve have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $13.70.

RIG has been the subject of several research reports. UBS Group upgraded Transocean from an “accumulate” rating to a “buy” rating in a report on Thursday, October 18th. Piper Jaffray Companies set a $14.00 target price on Transocean and gave the stock a “hold” rating in a report on Monday, October 1st. ValuEngine cut Transocean from a “buy” rating to a “hold” rating in a report on Thursday, November 8th. Morgan Stanley initiated coverage on Transocean in a report on Tuesday, September 18th. They issued an “overweight” rating and a $15.00 target price for the company. Finally, Cowen initiated coverage on Transocean in a report on Saturday, October 13th. They issued a “hold” rating and a $12.00 target price for the company.

In related news, Director Vanessa C. L. Chang acquired 6,000 shares of the firm’s stock in a transaction that occurred on Monday, December 10th. The stock was purchased at an average cost of $8.00 per share, for a total transaction of $48,000.00. Following the purchase, the director now directly owns 9,700 shares of the company’s stock, valued at approximately $77,600. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Howard E. Davis sold 55,212 shares of the company’s stock in a transaction on Friday, December 28th. The stock was sold at an average price of $7.10, for a total value of $392,005.20. The disclosure for this sale can be found here. Insiders have sold a total of 120,722 shares of company stock valued at $858,980 over the last 90 days. 14.09% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Legal & General Group Plc increased its position in Transocean by 0.3% during the 3rd quarter. Legal & General Group Plc now owns 1,165,345 shares of the offshore drilling services provider’s stock valued at $16,256,000 after buying an additional 3,084 shares in the last quarter. MinichMacGregor Wealth Management LLC increased its position in Transocean by 100.0% during the 3rd quarter. MinichMacGregor Wealth Management LLC now owns 10,000 shares of the offshore drilling services provider’s stock valued at $141,000 after buying an additional 5,000 shares in the last quarter. Private Advisor Group LLC increased its position in Transocean by 34.8% during the 3rd quarter. Private Advisor Group LLC now owns 22,729 shares of the offshore drilling services provider’s stock valued at $317,000 after buying an additional 5,870 shares in the last quarter. Poehling Capital Management LLC increased its position in Transocean by 16.2% during the 3rd quarter. Poehling Capital Management LLC now owns 43,185 shares of the offshore drilling services provider’s stock valued at $602,000 after buying an additional 6,020 shares in the last quarter. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. increased its position in Transocean by 45.1% during the 3rd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 21,900 shares of the offshore drilling services provider’s stock valued at $306,000 after buying an additional 6,810 shares in the last quarter. Hedge funds and other institutional investors own 81.03% of the company’s stock.

RIG traded down $0.32 during trading hours on Friday, reaching $8.25. 16,807,508 shares of the company’s stock traded hands, compared to its average volume of 19,129,311. Transocean has a 52-week low of $6.19 and a 52-week high of $14.47. The company has a quick ratio of 2.77, a current ratio of 3.07 and a debt-to-equity ratio of 0.75. The stock has a market cap of $3.94 billion, a P/E ratio of -137.50 and a beta of 1.68.

Transocean (NYSE:RIG) last posted its quarterly earnings data on Monday, October 29th. The offshore drilling services provider reported $0.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.16. Transocean had a negative return on equity of 2.31% and a negative net margin of 64.33%. The company had revenue of $816.00 million during the quarter, compared to analysts’ expectations of $779.19 million. During the same quarter in the previous year, the business earned $0.16 EPS. Transocean’s revenue was up 1.0% compared to the same quarter last year. Equities analysts anticipate that Transocean will post -0.74 EPS for the current fiscal year.

About Transocean

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. The company primarily offers deepwater and harsh environment drilling services. As of February 20, 2018, it owned or had partial ownership interests in, and operated 47 mobile offshore drilling units that consist of 27 ultra-deepwater floaters, 12 harsh environment floaters, 2 deepwater floaters, 6 midwater floaters, and 2 high-specification jackups.

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Analyst Recommendations for Transocean (NYSE:RIG)

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