Transocean Ltd. (NYSE:RIG) Receives Consensus Rating of "Hold" from Brokerages

Transocean Ltd. (NYSE:RIG - Get Free Report) has been given an average rating of "Hold" by the nine ratings firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $7.22.

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Several research analysts have recently commented on RIG shares. StockNews.com raised Transocean to a "sell" rating in a research report on Monday, August 5th. Bank of America boosted their price target on Transocean from $5.50 to $6.00 and gave the stock an "underperform" rating in a research report on Monday, April 15th. Evercore ISI dropped their target price on Transocean from $9.00 to $7.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 1st. Finally, Benchmark restated a "buy" rating and set a $8.00 target price on shares of Transocean in a research note on Friday, August 2nd.

Check Out Our Latest Report on RIG

Transocean Price Performance

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Shares of Transocean stock opened at $5.18 on Friday. Transocean has a one year low of $4.45 and a one year high of $8.88. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.08 and a current ratio of 1.36. The stock has a market cap of $4.87 billion, a price-to-earnings ratio of -9.96 and a beta of 2.85. The stock has a 50 day moving average price of $5.34 and a 200-day moving average price of $5.55.

Transocean (NYSE:RIG - Get Free Report) last issued its earnings results on Wednesday, July 31st. The offshore drilling services provider reported ($0.15) earnings per share for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.07). The firm had revenue of $861.00 million for the quarter, compared to the consensus estimate of $862.25 million. Transocean had a negative net margin of 11.34% and a negative return on equity of 4.76%. The company's revenue for the quarter was up 18.1% on a year-over-year basis. During the same period last year, the firm earned ($0.15) earnings per share. Equities analysts expect that Transocean will post -0.07 EPS for the current year.

Insider Activity

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In related news, Director (Cyprus) Ltd Perestroika acquired 2,000,000 shares of the firm's stock in a transaction dated Friday, August 2nd. The stock was acquired at an average price of $5.23 per share, with a total value of $10,460,000.00. Following the acquisition, the director now directly owns 89,574,894 shares in the company, valued at approximately $468,476,695.62. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 13.16% of the company's stock.

Hedge Funds Weigh In On Transocean

Hedge funds have recently made changes to their positions in the company. Cloverfields Capital Group LP acquired a new position in shares of Transocean during the fourth quarter valued at approximately $1,008,000. Vanguard Group Inc. grew its position in shares of Transocean by 0.6% in the first quarter. Vanguard Group Inc. now owns 68,982,142 shares of the offshore drilling services provider's stock valued at $433,208,000 after purchasing an additional 429,950 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of Transocean by 76.9% in the first quarter. Russell Investments Group Ltd. now owns 402,839 shares of the offshore drilling services provider's stock valued at $2,530,000 after purchasing an additional 175,130 shares in the last quarter. Jump Financial LLC grew its position in shares of Transocean by 332.4% in the fourth quarter. Jump Financial LLC now owns 383,941 shares of the offshore drilling services provider's stock valued at $2,438,000 after purchasing an additional 295,154 shares in the last quarter. Finally, Fisher Asset Management LLC grew its position in shares of Transocean by 11.0% in the fourth quarter. Fisher Asset Management LLC now owns 27,714 shares of the offshore drilling services provider's stock valued at $176,000 after purchasing an additional 2,743 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Transocean Company Profile

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. The company operates a fleet of mobile offshore drilling units, consisting of ultra-deepwater floaters and harsh environment floaters.

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