Susquehanna Bancshares set a $11.00 target price on Transocean (NYSE:RIG) in a research report released on Friday. The firm currently has a hold rating on the offshore drilling services provider’s stock.
A number of other equities research analysts have also recently weighed in on RIG. Cowen set a $11.00 price objective on Transocean and gave the stock a hold rating in a research note on Thursday, January 11th. Piper Jaffray Companies set a $11.00 price objective on Transocean and gave the stock a hold rating in a research note on Wednesday, January 10th. Nordea Equity Research restated a buy rating and set a $14.00 price objective on shares of Transocean in a research note on Saturday, September 30th. UBS Group upgraded Transocean from a neutral rating to a buy rating and increased their price target for the company from $9.00 to $15.00 in a research note on Monday, September 25th. Finally, ValuEngine cut Transocean from a hold rating to a sell rating in a research note on Sunday, December 31st. Eleven investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $12.28.
Shares of Transocean (NYSE RIG) traded up $0.08 during midday trading on Friday, hitting $12.20. The company had a trading volume of 12,018,900 shares, compared to its average volume of 13,986,300. The company has a quick ratio of 2.13, a current ratio of 2.36 and a debt-to-equity ratio of 0.51. The stock has a market cap of $4,620.00, a PE ratio of -1.71 and a beta of 1.79. Transocean has a 1 year low of $7.20 and a 1 year high of $15.94.
Transocean (NYSE:RIG) last issued its quarterly earnings data on Wednesday, November 1st. The offshore drilling services provider reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.20. The firm had revenue of $808.00 million during the quarter, compared to analysts’ expectations of $703.13 million. Transocean had a positive return on equity of 2.10% and a negative net margin of 84.09%. The firm’s quarterly revenue was down 10.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.25 EPS. analysts predict that Transocean will post -0.34 EPS for the current year.
A number of institutional investors have recently bought and sold shares of RIG. Dumont & Blake Investment Advisors LLC acquired a new stake in Transocean during the third quarter worth about $108,000. Capstone Investment Advisors Netherlands B.V. acquired a new stake in Transocean during the second quarter worth about $111,000. Saratoga Research & Investment Management acquired a new stake in Transocean during the third quarter worth about $115,000. WFG Advisors LP grew its holdings in Transocean by 60.3% during the second quarter. WFG Advisors LP now owns 14,194 shares of the offshore drilling services provider’s stock worth $117,000 after acquiring an additional 5,338 shares during the period. Finally, IndexIQ Advisors LLC acquired a new stake in Transocean during the third quarter worth about $117,000. 72.88% of the stock is currently owned by hedge funds and other 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.
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