Transocean Ltd. (NYSE:RIG) Receives Consensus Recommendation of “Hold” from Brokerages

Transocean Ltd. (NYSE:RIG) has received an average recommendation of “Hold” from the ten ratings firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $5.23.

Several equities research analysts have recently issued reports on RIG shares. Benchmark reiterated a “hold” rating on shares of Transocean in a research report on Tuesday, December 3rd. TD Cowen reduced their price objective on shares of Transocean from $6.50 to $5.50 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Evercore ISI cut shares of Transocean from an “outperform” rating to an “in-line” rating and reduced their price objective for the company from $6.00 to $5.00 in a research report on Wednesday, January 15th. Barclays reduced their price objective on shares of Transocean from $4.50 to $4.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 25th. Finally, SEB Equity Research set a $2.80 price objective on shares of Transocean in a research report on Wednesday, March 5th.

Insider Buying and Selling

In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $3.85, for a total transaction of $84,700.00. Following the transaction, the executive vice president now owns 313,072 shares in the company, valued at $1,205,327.20. The trade was a 6.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 13.16% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RIG. Charles Schwab Investment Management Inc. boosted its stake in shares of Transocean by 7.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,465,534 shares of the offshore drilling services provider’s stock valued at $46,746,000 after purchasing an additional 859,214 shares during the period. Hosking Partners LLP boosted its stake in shares of Transocean by 23.5% during the fourth quarter. Hosking Partners LLP now owns 1,706,143 shares of the offshore drilling services provider’s stock valued at $6,398,000 after purchasing an additional 324,955 shares during the period. Geode Capital Management LLC boosted its stake in shares of Transocean by 4.1% during the third quarter. Geode Capital Management LLC now owns 17,245,298 shares of the offshore drilling services provider’s stock valued at $73,307,000 after purchasing an additional 680,242 shares during the period. Van ECK Associates Corp lifted its stake in Transocean by 33.9% in the fourth quarter. Van ECK Associates Corp now owns 15,393,873 shares of the offshore drilling services provider’s stock worth $57,727,000 after acquiring an additional 3,895,880 shares during the period. Finally, State of New Jersey Common Pension Fund D lifted its stake in Transocean by 25.2% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 499,801 shares of the offshore drilling services provider’s stock worth $1,874,000 after acquiring an additional 100,691 shares during the period. Institutional investors own 67.73% of the company’s stock.

Transocean Price Performance

NYSE RIG opened at $3.20 on Monday. Transocean has a 12 month low of $2.55 and a 12 month high of $6.88. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of -4.38, a PEG ratio of 0.86 and a beta of 2.72. The company’s 50 day moving average is $3.49 and its two-hundred day moving average is $3.93. The company has a current ratio of 1.47, a quick ratio of 1.34 and a debt-to-equity ratio of 0.60.

Transocean (NYSE:RIG) last announced its quarterly earnings data on Monday, February 17th. The offshore drilling services provider reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.11). The company had revenue of $952.00 million for the quarter, compared to analysts’ expectations of $962.28 million. Transocean had a negative net margin of 14.53% and a negative return on equity of 0.52%. As a group, research analysts anticipate that Transocean will post 0.14 earnings per share for the current year.

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.