Transocean Ltd. (NYSE:RIG) Given Consensus Recommendation of “Hold” by Brokerages

Transocean Ltd. (NYSE:RIG) has received a consensus rating of “Hold” from the ten ratings firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $7.70.

A number of equities research analysts have recently weighed in on the company. Bank of America boosted their price target on Transocean from $5.50 to $6.00 and gave the company an “underperform” rating in a report on Monday, April 15th. Evercore ISI lowered their price target on Transocean from $9.00 to $7.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Benchmark reiterated a “buy” rating and issued a $8.00 price target on shares of Transocean in a report on Tuesday, April 30th. Finally, Susquehanna upgraded Transocean from a “neutral” rating to a “positive” rating and boosted their price objective for the company from $5.50 to $9.00 in a research report on Monday, April 8th.

Insiders Place Their Bets

In other Transocean news, Director (Cyprus) Ltd Perestroika purchased 2,000,000 shares of Transocean stock in a transaction on Wednesday, May 15th. The stock was bought at an average price of $6.01 per share, for a total transaction of $12,020,000.00. Following the transaction, the director now owns 87,574,894 shares of the company’s stock, valued at approximately $526,325,112.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 13.16% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Cloverfields Capital Group LP acquired a new stake in shares of Transocean during the fourth quarter worth $1,008,000. Janney Montgomery Scott LLC raised its position in Transocean by 180.5% during the third quarter. Janney Montgomery Scott LLC now owns 32,535 shares of the offshore drilling services provider’s stock valued at $267,000 after buying an additional 20,935 shares during the period. B. Riley Wealth Advisors Inc. raised its position in Transocean by 16.2% during the third quarter. B. Riley Wealth Advisors Inc. now owns 14,371 shares of the offshore drilling services provider’s stock valued at $118,000 after buying an additional 2,000 shares during the period. Clough Capital Partners L P raised its position in Transocean by 12.0% during the third quarter. Clough Capital Partners L P now owns 1,663,543 shares of the offshore drilling services provider’s stock valued at $13,658,000 after buying an additional 178,100 shares during the period. Finally, Jump Financial LLC grew its stake in Transocean by 332.4% in the fourth quarter. Jump Financial LLC now owns 383,941 shares of the offshore drilling services provider’s stock valued at $2,438,000 after purchasing an additional 295,154 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Transocean Price Performance

RIG stock opened at $5.35 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.35 and a debt-to-equity ratio of 0.65. Transocean has a 52-week low of $4.45 and a 52-week high of $8.88. The stock’s 50 day moving average is $5.64 and its two-hundred day moving average is $5.69. The company has a market capitalization of $4.38 billion, a PE ratio of -10.28 and a beta of 2.82.

Transocean (NYSE:RIG) last posted its quarterly earnings data on Monday, April 29th. The offshore drilling services provider reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.10. Transocean had a negative return on equity of 4.67% and a negative net margin of 13.27%. The company had revenue of $767.00 million for the quarter, compared to the consensus estimate of $781.86 million. During the same period in the previous year, the business earned ($0.38) EPS. Transocean’s revenue for the quarter was up 18.2% compared to the same quarter last year. Analysts predict that Transocean will post -0.04 earnings per share for the current fiscal year.

About Transocean

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. The company operates a fleet of mobile offshore drilling units, consisting of ultra-deepwater floaters and harsh environment floaters.