Susquehanna Has Lowered Expectations for Transocean (NYSE:RIG) Stock Price

Transocean (NYSE:RIG) had its price objective decreased by equities researchers at Susquehanna from $5.00 to $4.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “positive” rating on the offshore drilling services provider’s stock. Susquehanna’s target price indicates a potential upside of 82.23% from the stock’s current price.

Other analysts also recently issued reports about the company. TD Cowen reduced their price target on Transocean from $6.50 to $5.50 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Evercore ISI cut shares of Transocean from an “outperform” rating to an “in-line” rating and reduced their target price for the company from $6.00 to $5.00 in a research report on Wednesday, January 15th. Citigroup lowered their price target on shares of Transocean from $4.50 to $3.50 and set a “neutral” rating on the stock in a research report on Wednesday, March 19th. Barclays cut their price objective on shares of Transocean from $4.00 to $3.50 and set an “overweight” rating for the company in a report on Monday, April 7th. Finally, Morgan Stanley lowered their target price on shares of Transocean from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Thursday, March 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $4.59.

Transocean Price Performance

NYSE:RIG opened at $2.20 on Monday. The firm’s fifty day moving average price is $3.01 and its two-hundred day moving average price is $3.72. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.47 and a quick ratio of 1.34. The company has a market cap of $1.94 billion, a P/E ratio of -3.01, a P/E/G ratio of 0.86 and a beta of 2.29. Transocean has a one year low of $1.97 and a one year high of $6.38.

Transocean (NYSE:RIG) last released its quarterly earnings results on Monday, February 17th. The offshore drilling services provider reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.11). Transocean had a negative net margin of 14.53% and a negative return on equity of 0.52%. The company had revenue of $952.00 million during the quarter, compared to the consensus estimate of $962.28 million. Equities analysts expect that Transocean will post 0.14 earnings per share for the current year.

Insider Activity at Transocean

In related news, EVP Roderick James Mackenzie sold 22,000 shares of the firm’s stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $2.23, for a total value of $49,060.00. Following the sale, the executive vice president now directly owns 362,841 shares of the company’s stock, valued at $809,135.43. This trade represents a 5.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 13.16% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in RIG. Twin Tree Management LP bought a new position in Transocean in the 4th quarter valued at approximately $27,000. Parallel Advisors LLC lifted its stake in shares of Transocean by 154.8% in the 1st quarter. Parallel Advisors LLC now owns 8,810 shares of the offshore drilling services provider’s stock valued at $28,000 after acquiring an additional 5,353 shares during the last quarter. Optiver Holding B.V. boosted its holdings in shares of Transocean by 53.6% during the 4th quarter. Optiver Holding B.V. now owns 8,400 shares of the offshore drilling services provider’s stock valued at $32,000 after acquiring an additional 2,933 shares in the last quarter. Blue Trust Inc. grew its position in Transocean by 96.2% during the 4th quarter. Blue Trust Inc. now owns 9,841 shares of the offshore drilling services provider’s stock worth $37,000 after acquiring an additional 4,826 shares during the last quarter. Finally, Adero Partners LLC acquired a new position in Transocean in the 4th quarter worth about $38,000. Institutional investors 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.