Transocean Ltd. (NYSE:RIG) Receives $4.38 Average PT from Analysts

Shares of Transocean Ltd. (NYSE:RIG) have earned an average recommendation of “Hold” from the seven brokerages that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $4.3833.

A number of brokerages have issued reports on RIG. Citigroup increased their price objective on Transocean from $4.25 to $4.50 and gave the stock a “neutral” rating in a report on Thursday, December 11th. Morgan Stanley set a $4.50 target price on shares of Transocean in a research note on Monday, December 15th. Barclays raised their price objective on Transocean from $4.00 to $4.50 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Transocean in a report on Wednesday, December 10th. Finally, Susquehanna increased their target price on Transocean from $4.50 to $5.00 and gave the stock a “positive” rating in a research note on Wednesday, January 7th.

Insiders Place Their Bets

In other news, EVP Roderick James Mackenzie sold 53,769 shares of the company’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $3.86, for a total transaction of $207,548.34. Following the completion of the sale, the executive vice president owned 247,072 shares of the company’s stock, valued at $953,697.92. This represents a 17.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Keelan Adamson sold 57,968 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $4.50, for a total transaction of $260,856.00. Following the sale, the chief executive officer directly owned 1,303,715 shares of the company’s stock, valued at approximately $5,866,717.50. This represents a 4.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 726,148 shares of company stock worth $3,115,783 in the last quarter. Insiders own 12.54% of the company’s stock.

Institutional Investors Weigh In On Transocean

A number of institutional investors have recently bought and sold shares of RIG. Integrated Wealth Concepts LLC increased its holdings in shares of Transocean by 12.1% in the first quarter. Integrated Wealth Concepts LLC now owns 69,637 shares of the offshore drilling services provider’s stock worth $221,000 after purchasing an additional 7,520 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Transocean by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 434,031 shares of the offshore drilling services provider’s stock valued at $1,376,000 after buying an additional 18,957 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Transocean by 88.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 12,151,817 shares of the offshore drilling services provider’s stock valued at $38,521,000 after buying an additional 5,719,637 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Transocean by 287.3% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 45,845 shares of the offshore drilling services provider’s stock worth $127,000 after acquiring an additional 34,008 shares during the last quarter. Finally, Fulton Bank N.A. purchased a new stake in shares of Transocean during the 2nd quarter worth approximately $36,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Transocean Price Performance

Shares of NYSE RIG opened at $4.31 on Friday. The company has a market capitalization of $4.74 billion, a PE ratio of -1.31 and a beta of 1.36. The stock’s 50 day moving average price is $4.18 and its 200-day moving average price is $3.55. The company has a quick ratio of 0.91, a current ratio of 1.08 and a debt-to-equity ratio of 0.60. Transocean has a twelve month low of $1.97 and a twelve month high of $4.56.

Transocean (NYSE:RIG) last released its quarterly earnings data on Wednesday, October 29th. The offshore drilling services provider reported $0.06 EPS for the quarter, topping the consensus estimate of $0.04 by $0.02. Transocean had a negative net margin of 75.71% and a positive return on equity of 0.45%. The company had revenue of ($1,894.00) million during the quarter, compared to the consensus estimate of $1.01 billion. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, equities analysts anticipate that Transocean will post 0.14 EPS for the current year.

About Transocean

Transocean Ltd. is a leading international provider of offshore contract drilling services for the oil and gas industry. The company specializes in the operation of mobile drilling units, including ultra-deepwater drillships, semisubmersible rigs and high-specification jackup rigs. Transocean’s fleet is designed to meet complex drilling requirements, from ultra-deepwater well construction to shelf exploration and development projects.

The company’s core services encompass the full spectrum of offshore drilling operations, including project and engineering management, marine operations, drilling supervision, and maintenance support.