Transocean Ltd. (NYSE:RIG) had its price objective boosted by Royal Bank Of Canada from $11.00 to $13.00 in a research note issued to investors on Tuesday morning, Marketbeat.com reports. They currently have a sector perform rating on the offshore drilling services provider’s stock.
A number of other research firms have also recently commented on RIG. Jefferies Group LLC set a $9.00 target price on Transocean and gave the stock a hold rating in a research report on Wednesday, August 16th. R. F. Lafferty set a $15.00 target price on Transocean and gave the stock a buy rating in a research report on Saturday, August 26th. Capital One Financial Corporation upgraded Transocean from an equal weight rating to an overweight rating and set a $12.00 target price on the stock in a research report on Thursday, August 31st. Zacks Investment Research cut Transocean from a buy rating to a hold rating in a research report on Tuesday, October 17th. Finally, Wells Fargo & Company restated a market perform rating on shares of Transocean in a research report on Saturday, July 22nd. Ten analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and fifteen have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $12.31.
Transocean (NYSE RIG) traded up $0.12 on Tuesday, hitting $10.35. The stock had a trading volume of 8,157,484 shares, compared to its average volume of 14,064,754. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.36 and a quick ratio of 2.13. Transocean has a twelve month low of $7.20 and a twelve month high of $16.66. The firm has a market capitalization of $4,000.00, a PE ratio of 13.39 and a beta of 1.81.
Transocean (NYSE:RIG) last posted its earnings results on Wednesday, November 1st. The offshore drilling services provider reported $0.16 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.20. Transocean had a negative return on equity of 42.09% and a negative net margin of 174.63%. The business had revenue of $808.00 million for the quarter, compared to analysts’ expectations of $703.13 million. During the same quarter in the previous year, the firm earned $0.25 earnings per share. The business’s revenue was down 10.8% compared to the same quarter last year. equities research analysts forecast that Transocean will post -0.34 earnings per share for the current fiscal year.
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A number of institutional investors and hedge funds have recently modified their holdings of RIG. Contrarius Investment Management Ltd raised its holdings in Transocean by 96.8% in the 2nd quarter. Contrarius Investment Management Ltd now owns 9,740,030 shares of the offshore drilling services provider’s stock valued at $80,160,000 after acquiring an additional 4,790,469 shares during the last quarter. Thompson Siegel & Walmsley LLC raised its holdings in Transocean by 129.6% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 6,299,461 shares of the offshore drilling services provider’s stock valued at $51,844,000 after acquiring an additional 3,556,281 shares during the last quarter. BlackRock Inc. raised its holdings in Transocean by 12.1% in the 2nd quarter. BlackRock Inc. now owns 25,538,929 shares of the offshore drilling services provider’s stock valued at $210,185,000 after acquiring an additional 2,756,207 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in Transocean in the 3rd quarter valued at $26,661,000. Finally, Principal Financial Group Inc. raised its holdings in Transocean by 310.7% in the 3rd quarter. Principal Financial Group Inc. now owns 2,536,811 shares of the offshore drilling services provider’s stock valued at $27,296,000 after acquiring an additional 1,919,171 shares during the last quarter. Institutional investors own 70.31% of the company’s stock.
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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