Transocean (NYSE:RIG) Given a $10.00 Price Target by Susquehanna Bancshares Analysts

Susquehanna Bancshares set a $10.00 price target on Transocean (NYSE:RIG) in a report published on Friday, February 16th. The brokerage currently has a hold rating on the offshore drilling services provider’s stock.

Other research analysts also recently issued reports about the company. ValuEngine raised Transocean from a hold rating to a buy rating in a research report on Thursday, November 2nd. Jefferies Group raised Transocean from a hold rating to a buy rating and set a $13.00 price target on the stock in a research report on Thursday, January 4th. TheStreet cut Transocean from a c- rating to a d rating in a research report on Friday, November 3rd. Piper Jaffray Companies set a $11.00 price objective on Transocean and gave the company a hold rating in a research report on Wednesday, January 10th. Finally, Royal Bank of Canada set a $11.00 price objective on Transocean and gave the company a hold rating in a research report on Sunday, November 12th. Ten analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Transocean presently has a consensus rating of Hold and an average price target of $12.08.

Shares of Transocean (NYSE:RIG) traded up $0.34 during midday trading on Friday, reaching $9.70. The company’s stock had a trading volume of 12,033,784 shares, compared to its average volume of 15,220,000. The company has a current ratio of 3.36, a quick ratio of 2.13 and a debt-to-equity ratio of 0.56. The company has a market cap of $3,800.00, a P/E ratio of -1.24 and a beta of 1.55. Transocean has a 52 week low of $7.20 and a 52 week high of $14.33.

Transocean (NYSE:RIG) last issued its quarterly earnings results on Tuesday, February 20th. The offshore drilling services provider reported ($0.24) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.03). The business had revenue of $629.00 million during the quarter, compared to the consensus estimate of $619.66 million. Transocean had a negative return on equity of 0.17% and a negative net margin of 105.18%. The business’s quarterly revenue was down 35.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.69 earnings per share. sell-side analysts expect that Transocean will post -0.77 earnings per share for the current year.

In other Transocean news, SVP David A. Tonnel sold 9,000 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $9.39, for a total value of $84,510.00. Following the transaction, the senior vice president now owns 75,349 shares of the company’s stock, valued at $707,527.11. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.33% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. boosted its stake in Transocean by 0.5% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 49,298 shares of the offshore drilling services provider’s stock worth $406,000 after purchasing an additional 226 shares in the last quarter. Thrivent Financial For Lutherans boosted its stake in Transocean by 2.4% in the second quarter. Thrivent Financial For Lutherans now owns 14,840 shares of the offshore drilling services provider’s stock worth $122,000 after purchasing an additional 350 shares in the last quarter. Stifel Financial Corp boosted its stake in Transocean by 0.5% in the second quarter. Stifel Financial Corp now owns 81,518 shares of the offshore drilling services provider’s stock worth $664,000 after purchasing an additional 410 shares in the last quarter. WFG Advisors LP boosted its stake in Transocean by 60.3% in the second quarter. WFG Advisors LP now owns 14,194 shares of the offshore drilling services provider’s stock worth $117,000 after purchasing an additional 5,338 shares in the last quarter. Finally, Private Advisor Group LLC boosted its stake in Transocean by 22.6% in the third quarter. Private Advisor Group LLC now owns 29,899 shares of the offshore drilling services provider’s stock worth $314,000 after purchasing an additional 5,513 shares in the last quarter. 62.76% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for Transocean (NYSE:RIG)

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