Transocean Ltd. (NYSE:RIG) Given “Hold” rating by analysts

Transocean Ltd. (NYSE:RIG – Get Free Report ) has been given an average rating of “Hold” by the nine research firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $7.00.

A number of equities research analysts have issued reports on the company. Benchmark restated a “buy” rating and set a $8.00 price objective on shares of Transocean in a research report on Friday, August 2nd. StockNews.com upgraded Transocean to a “sell” rating in a report on Thursday. Morgan Stanley reduced their price objective on shares of Transocean from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Citigroup cut shares of Transocean from a “buy” rating to a “neutral” rating in a research note on Thursday, September 12th. Finally, DNB Markets upgraded Transocean from a “hold” rating to a “buy” rating in a research report on Tuesday, September 3rd.

See our latest analysis on Transocean

Insiders place their bets

In other news, the director of Perestroika purchased 1,500,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were acquired at an average price of $4.13 per share, for a total transaction of $6,195,000.00. Following the completion of the acquisition, the director now owns 91,074,894 shares of the company’s stock, valued at $376,139,312.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Transocean news, Director (Cyprus) Ltd Perestroika acquired 2,000,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were bought at an average cost of $5.23 per share, with a total value of $10,460,000.00. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is available via this link. Also, Director Perestroika purchased 1,500,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were bought at an average price of $4.13 per share, with a total value of $6,195,000.00. Following the acquisition, the director now owns 91,074,894 shares of the company’s stock, valued at $376,139,312.22. Disclosure for this purchase can be found here. Insiders own 13.16% of the company’s shares.

Institutional inputs and outputs

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Murphy Pohlad Asset Management LLC boosted its position in Transocean by 1.7% in the first quarter. Murphy Pohlad Asset Management LLC now owns 96,150 shares of the offshore drilling services provider’s stock valued at $604,000 after purchasing an additional 1,600 shares in the last quarter. Traynor Capital Management Inc. boosted its holdings in shares of Transocean by 5.2% in the first quarter. Traynor Capital Management Inc. now owns 33,257 shares of the offshore drilling services provider’s stock valued at $209,000 after buying an additional 1,650 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in shares of Transocean by 8.6% in the first quarter. Oppenheimer Asset Management Inc. now owns 22,237 shares of the offshore drilling services provider’s stock valued at $140,000 after buying an additional 1,767 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Transocean by 138.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,633 shares of the offshore drilling services provider’s stock worth $25,000 after buying an additional 2,693 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its stake in shares of Transocean by 11.0% during the 4th quarter. Fisher Asset Management LLC now owns 27,714 shares of the offshore drilling services provider’s stock worth $176,000 , after acquiring an additional 2,743 shares in the last quarter. 67.73% of the shares are currently owned by hedge funds and other institutional investors.

Overseas trading up 3.4%

RIG stock opened at $4.31 on Monday. The firm has a market cap of $3.77 billion, a PE ratio of -8.29 and a beta of 2.79. The firm has a fifty day moving average price of $4.85 and a 200 day moving average price of $5.42. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.08, and a current ratio of 1.36. Transocean has a fifty-two week low of $3.85 and a fifty-two week high of $8.60.

Transocean (NYSE:RIG – Get Free Report ) last posted 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). Transocean had a negative return on equity of 4.76% and a negative net margin of 11.34%. The business had revenue of $861.00 million during the quarter, compared to the consensus estimate of $862.25 million. In the same quarter last year, the company earned ($0.15) earnings per share. The company’s quarterly revenue was up 18.1% year over year. Sell-side analysts anticipate that Transocean will post -0.18 earnings per share for the current fiscal year.

Transocean Company Profile

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Transocean Ltd., together with its subsidiaries, provides offshore drilling services for oil and gas wells worldwide. Contracts mobile offshore drilling rigs, related equipment and work crews for drilling oil and gas wells. The company operates a fleet of mobile offshore drilling units consisting of ultra-deep water and harsh environment floats.

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