Transocean LTD (NYSE:RIG) has earned an average recommendation of “Hold” from the thirty-three research firms that are presently covering the firm, MarketBeat.com reports. Eight research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $11.55.
Several equities research analysts recently issued reports on RIG shares. Jefferies Group raised shares of Transocean from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research report on Thursday, January 4th. HSBC raised shares of Transocean from a “hold” rating to a “buy” rating and set a $11.50 price target on the stock in a research report on Wednesday, April 4th. Credit Suisse Group set a $16.00 price target on shares of Transocean and gave the company a “buy” rating in a research report on Saturday. Susquehanna Bancshares set a $10.00 price target on shares of Transocean and gave the company a “hold” rating in a research report on Friday, February 16th. Finally, Piper Jaffray set a $11.00 price target on shares of Transocean and gave the company a “hold” rating in a research report on Thursday, February 15th.
In related news, Director Frederik Wilhelm Mohn purchased 2,000,000 shares of the company’s stock in a transaction that occurred on Friday, March 2nd. The stock was acquired at an average price of $9.29 per share, for a total transaction of $18,580,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP David A. Tonnel sold 9,000 shares of Transocean stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $9.39, for a total transaction of $84,510.00. Following the completion of the sale, the senior vice president now owns 75,349 shares of the company’s stock, valued at approximately $707,527.11. The disclosure for this sale can be found here. Insiders own 14.09% of the company’s stock.
Shares of RIG traded up $0.20 during mid-day trading on Thursday, hitting $12.02. The company had a trading volume of 13,197,784 shares, compared to its average volume of 14,678,569. The company has a debt-to-equity ratio of 0.56, a quick ratio of 3.06 and a current ratio of 3.36. Transocean has a 1-year low of $7.20 and a 1-year high of $12.40. The stock has a market capitalization of $5,318.82, a PE ratio of -200.33 and a beta of 1.50.
Transocean (NYSE:RIG) last released its earnings results on Tuesday, February 20th. The offshore drilling services provider reported ($0.24) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.03). Transocean had a negative return on equity of 0.17% and a negative net margin of 105.18%. The company had revenue of $629.00 million during the quarter, compared to analyst estimates of $619.66 million. During the same period in the prior year, the business posted $0.69 earnings per share. Transocean’s revenue was down 35.4% on a year-over-year basis. sell-side analysts expect that Transocean will post -0.75 earnings per share for the current fiscal year.
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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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