Transocean Ltd. (RIG) Receives $12.09 Average Price Target from Analysts

Shares of Transocean Ltd. (NYSE:RIG) have received a consensus rating of “Hold” from the forty brokerages that are covering the company, Marketbeat reports. Ten analysts have rated the stock with a sell recommendation, fourteen have issued a hold recommendation and fifteen have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $12.16.

Several research firms have commented on RIG. Pareto Securities raised shares of Transocean from a “hold” rating to a “buy” rating in a research report on Friday, August 18th. ValuEngine raised shares of Transocean from a “hold” rating to a “buy” rating in a research report on Thursday, November 2nd. Zacks Investment Research raised shares of Transocean from a “hold” rating to a “buy” rating and set a $9.50 target price on the stock in a research report on Wednesday, August 2nd. BMO Capital Markets set a $7.00 target price on shares of Transocean and gave the stock a “sell” rating in a research report on Wednesday, October 18th. Finally, The Goldman Sachs Group, Inc. raised shares of Transocean from a “sell” rating to a “neutral” rating and increased their target price for the stock from $8.57 to $9.75 in a research report on Wednesday, August 9th.

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Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of Transocean by 12.1% during the second quarter. BlackRock Inc. now owns 25,538,929 shares of the offshore drilling services provider’s stock worth $210,185,000 after buying an additional 2,756,207 shares in the last quarter. State Street Corp increased its holdings in shares of Transocean by 7.5% during the second quarter. State Street Corp now owns 22,918,962 shares of the offshore drilling services provider’s stock worth $188,616,000 after buying an additional 1,593,179 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Transocean by 1.1% during the third quarter. Dimensional Fund Advisors LP now owns 12,729,364 shares of the offshore drilling services provider’s stock worth $136,965,000 after buying an additional 135,470 shares in the last quarter. Contrarius Investment Management Ltd increased its holdings in shares of Transocean by 10.3% during the third quarter. Contrarius Investment Management Ltd now owns 10,742,267 shares of the offshore drilling services provider’s stock worth $115,587,000 after buying an additional 1,002,237 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC increased its holdings in shares of Transocean by 129.6% during the second quarter. Thompson Siegel & Walmsley LLC now owns 6,299,461 shares of the offshore drilling services provider’s stock worth $51,844,000 after buying an additional 3,556,281 shares in the last quarter. 70.31% of the stock is owned by institutional investors.

Transocean (NYSE:RIG) traded up $0.12 during trading on Monday, reaching $10.35. 8,157,484 shares of the company’s stock traded hands, 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. The firm has a market capitalization of $4,000.00, a P/E ratio of 13.39 and a beta of 1.81. Transocean has a 52-week low of $7.20 and a 52-week high of $16.66.

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 Thomson Reuters’ consensus estimate of ($0.04) by $0.20. The firm had revenue of $808.00 million for the quarter, compared to the consensus estimate of $703.13 million. Transocean had a negative net margin of 174.63% and a negative return on equity of 42.09%. The business’s quarterly revenue was down 10.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.25 earnings per share. equities research analysts forecast that Transocean will post -0.34 EPS for the current year.

About Transocean

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.

Analyst Recommendations for Transocean (NYSE:RIG)

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