Transocean (RIG) Rating Increased to Hold at ValuEngine

ValuEngine upgraded shares of Transocean (NYSE:RIG) from a sell rating to a hold rating in a research report sent to investors on Wednesday.

Several other research analysts have also recently issued reports on RIG. Piper Jaffray set a $11.00 price objective on Transocean and gave the stock a hold rating in a research report on Tuesday, March 27th. Cowen set a $10.00 price objective on Transocean and gave the stock a hold rating in a research report on Thursday, March 15th. Susquehanna Bancshares set a $10.00 price objective on Transocean and gave the stock a hold rating in a research report on Friday, February 16th. Royal Bank of Canada set a $11.00 price objective on Transocean and gave the stock a hold rating in a research report on Thursday, December 21st. Finally, Jefferies Group raised Transocean from a hold rating to a buy rating and set a $13.00 price objective for the company in a research report on Thursday, January 4th. Eight equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $11.64.

NYSE:RIG opened at $11.18 on Wednesday. The stock has a market cap of $4,543.25, a PE ratio of -186.33 and a beta of 1.51. Transocean has a 1 year low of $7.20 and a 1 year high of $12.67. The company has a quick ratio of 3.06, a current ratio of 3.36 and a debt-to-equity ratio of 0.56.



Transocean (NYSE:RIG) last released its quarterly earnings data on Tuesday, February 20th. The offshore drilling services provider reported ($0.24) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.03). The business had revenue of $629.00 million for the quarter, compared to analyst estimates of $619.66 million. Transocean had a negative return on equity of 0.17% and a negative net margin of 105.18%. The company’s revenue was down 35.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.69 earnings per share. research analysts forecast that Transocean will post -0.72 earnings per share for the current year.

In related news, Director Frederik Wilhelm Mohn acquired 2,000,000 shares of Transocean stock in a transaction on Friday, March 2nd. The stock was purchased at an average cost of $9.29 per share, with a total value of $18,580,000.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP David A. Tonnel sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $9.39, for a total value of $84,510.00. Following the sale, the senior vice president now directly owns 75,349 shares of the company’s stock, valued at $707,527.11. The disclosure for this sale can be found here. 14.09% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Advisors Preferred LLC raised its stake in Transocean by 1,198.9% during the 4th quarter. Advisors Preferred LLC now owns 9,508 shares of the offshore drilling services provider’s stock valued at $102,000 after acquiring an additional 8,776 shares during the last quarter. Princeton Capital Management LLC purchased a new stake in Transocean during the 4th quarter valued at approximately $107,000. Cushing Asset Management LP purchased a new stake in Transocean during the 4th quarter valued at approximately $107,000. Bluestein R H & Co. purchased a new stake in Transocean during the 4th quarter valued at approximately $108,000. Finally, Suntrust Banks Inc. purchased a new stake in Transocean during the 4th quarter valued at approximately $112,000. 63.87% of the stock is 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Transocean (NYSE:RIG)

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