Transocean (NYSE:RIG) Stock Moved Up to “Strong-Buy” by Zacks Research

Zacks Research upgraded shares of Transocean (NYSE:RIG) from a hold rating to a strong-buy rating in a research note published on Monday morning,Zacks reports.

Other research analysts also recently issued research reports about the company. Fearnley Fonds upgraded Transocean from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. Barclays lowered their price objective on Transocean from $8.00 to $7.00 and set an “overweight” rating for the company in a research note on Wednesday, August 12th. Susquehanna decreased their price target on Transocean from $8.00 to $7.00 and set a “positive” rating for the company in a research note on Wednesday, July 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Transocean in a research report on Friday, July 17th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $6.68.

Transocean Trading Down 1.9%

Shares of RIG stock opened at $5.41 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.59 and a quick ratio of 1.27. Transocean has a 1 year low of $3.07 and a 1 year high of $7.66. The stock has a market capitalization of $6.04 billion, a price-to-earnings ratio of -2.88, a PEG ratio of 4.07 and a beta of 1.41. The company’s fifty day simple moving average is $5.59 and its two-hundred day simple moving average is $5.88.

Transocean (NYSE:RIG) last issued its quarterly earnings data on Wednesday, August 5th. The offshore drilling services provider reported $0.03 EPS for the quarter, beating the consensus estimate of $0.01 by $0.02. The company had revenue of $966.00 million during the quarter, compared to analysts’ expectations of $956.64 million. Transocean had a negative net margin of 40.24% and a positive return on equity of 2.60%. Transocean’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.06) earnings per share. As a group, analysts anticipate that Transocean will post 0.18 earnings per share for the current year.

Institutional Investors Weigh In On Transocean

Several large investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its holdings in Transocean by 27.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 6,536 shares of the offshore drilling services provider’s stock valued at $43,000 after buying an additional 1,391 shares during the period. Versant Capital Management Inc lifted its stake in shares of Transocean by 15.6% during the 3rd quarter. Versant Capital Management Inc now owns 15,550 shares of the offshore drilling services provider’s stock worth $81,000 after acquiring an additional 2,099 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in Transocean by 19.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 24,497 shares of the offshore drilling services provider’s stock valued at $101,000 after acquiring an additional 4,043 shares during the last quarter. Private Advisor Group LLC grew its position in Transocean by 16.4% in the 1st quarter. Private Advisor Group LLC now owns 31,876 shares of the offshore drilling services provider’s stock valued at $211,000 after acquiring an additional 4,500 shares during the last quarter. Finally, Root Financial Partners LLC increased its stake in Transocean by 192.6% in the first quarter. Root Financial Partners LLC now owns 7,787 shares of the offshore drilling services provider’s stock worth $52,000 after purchasing an additional 5,126 shares during the period. 67.73% of the stock is owned by institutional investors.

About Transocean

Transocean Ltd. is an offshore contract drilling company that provides drilling services to the international oil and gas industry. The company operates a fleet of mobile offshore drilling units, including ultra-deepwater and harsh-environment drillships and semisubmersible rigs, which are contracted by energy companies to drill exploration, appraisal and development wells.

Transocean’s services support offshore drilling programs in challenging environments around the world. Its operations have included activity in the Gulf of Mexico, Brazil, the North Sea, West Africa and other major offshore regions.