Transocean (RIG) Raised to Hold at DNB Markets

Transocean (NYSE:RIG) was upgraded by equities research analysts at DNB Markets from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, The Fly reports.

Several other equities research analysts have also recently commented on the company. BMO Capital Markets reissued a “sell” rating and issued a $8.00 price target on shares of Transocean in a research note on Friday, August 10th. Piper Jaffray Companies reissued a “hold” rating and issued a $13.20 price target on shares of Transocean in a research note on Wednesday, August 1st. ValuEngine cut Transocean from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 19th. Tudor Pickering raised Transocean from a “hold” rating to a “buy” rating in a research note on Thursday, July 12th. Finally, Barclays boosted their price target on Transocean from $7.00 to $8.00 and gave the company an “underweight” rating in a research note on Thursday, August 9th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $13.79.

NYSE:RIG traded up $0.04 on Tuesday, hitting $10.44. 5,944,486 shares of the company’s stock traded hands, compared to its average volume of 13,807,182. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.49 and a quick ratio of 1.35. Transocean has a 1 year low of $8.70 and a 1 year high of $14.47. The stock has a market cap of $5.07 billion, a PE ratio of -174.00 and a beta of 1.47.



Transocean (NYSE:RIG) last released its earnings results on Monday, October 29th. The offshore drilling services provider reported $0.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.16. Transocean had a negative return on equity of 2.00% and a negative net margin of 99.38%. The company had revenue of $816.00 million for the quarter, compared to analysts’ expectations of $779.19 million. During the same quarter in the previous year, the business posted $0.16 EPS. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities research analysts anticipate that Transocean will post -0.85 earnings per share for the current year.

In related news, Director Vincent J. Intrieri bought 10,000 shares of Transocean stock in a transaction that occurred on Thursday, August 16th. The stock was purchased at an average cost of $10.62 per share, for a total transaction of $106,200.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at $106,200. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 14.09% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Flagship Harbor Advisors LLC acquired a new stake in Transocean in the 2nd quarter worth approximately $101,000. MinichMacGregor Wealth Management LLC lifted its holdings in Transocean by 100.0% in the 3rd quarter. MinichMacGregor Wealth Management LLC now owns 10,000 shares of the offshore drilling services provider’s stock worth $141,000 after purchasing an additional 5,000 shares during the last quarter. Verition Fund Management LLC acquired a new stake in Transocean in the 2nd quarter worth approximately $167,000. Centaurus Financial Inc. acquired a new stake in Transocean in the 2nd quarter worth approximately $178,000. Finally, Royal London Asset Management Ltd. acquired a new stake in Transocean in the 2nd quarter worth approximately $187,000. Hedge funds and other institutional investors own 70.99% 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. The company primarily offers deepwater and harsh environment drilling services. As of February 20, 2018, it owned or had partial ownership interests in, and operated 47 mobile offshore drilling units that consist of 27 ultra-deepwater floaters, 12 harsh environment floaters, 2 deepwater floaters, 6 midwater floaters, and 2 high-specification jackups.

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