Transocean (NYSE:RIG) Receives “Buy” Rating from Benchmark

Benchmark reissued their buy rating on shares of Transocean (NYSE:RIG) in a research report report published on Tuesday morning, Benzinga reports. The brokerage currently has a $8.00 target price on the offshore drilling services provider’s stock.

RIG has been the subject of a number of other reports. Susquehanna raised Transocean from a neutral rating to a positive rating and increased their price objective for the stock from $5.50 to $9.00 in a research report on Monday, April 8th. Citigroup decreased their price objective on Transocean from $9.00 to $7.00 and set a buy rating for the company in a research report on Wednesday, February 21st. StockNews.com raised Transocean to a sell rating in a research report on Tuesday, February 20th. Morgan Stanley decreased their price objective on Transocean from $8.00 to $7.00 and set an equal weight rating for the company in a research report on Monday, February 26th. Finally, Barclays reduced their price target on Transocean from $7.00 to $6.00 and set an equal weight rating for the company in a report on Thursday, February 22nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of Hold and a consensus target price of $7.78.

Transocean Stock Down 10.4 %

Shares of NYSE RIG opened at $5.22 on Tuesday. The stock has a market cap of $4.27 billion, a PE ratio of -4.11 and a beta of 2.77. The company has a quick ratio of 1.22, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. Transocean has a 52-week low of $4.45 and a 52-week high of $8.88. The business has a 50-day moving average price of $5.73 and a 200 day moving average price of $5.98.

Transocean (NYSE:RIG) last announced its earnings results on Monday, April 29th. The offshore drilling services provider reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.10. Transocean had a negative return on equity of 7.13% and a negative net margin of 33.69%. The firm had revenue of $767.00 million during the quarter, compared to analysts’ expectations of $781.86 million. During the same period in the prior year, the firm earned ($0.38) EPS. The business’s revenue was up 18.2% on a year-over-year basis. Equities research analysts forecast that Transocean will post 0.05 earnings per share for the current year.

Hedge Funds Weigh In On Transocean

Several hedge funds have recently bought and sold shares of the company. Murphy Pohlad Asset Management LLC increased its stake in Transocean by 1.7% in the 1st 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. increased its stake in Transocean by 5.2% in the 1st quarter. Traynor Capital Management Inc. now owns 33,257 shares of the offshore drilling services provider’s stock valued at $209,000 after purchasing an additional 1,650 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its stake in Transocean by 16.2% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 14,371 shares of the offshore drilling services provider’s stock valued at $118,000 after purchasing an additional 2,000 shares in the last quarter. 180 Wealth Advisors LLC increased its stake in Transocean by 7.4% in the 4th quarter. 180 Wealth Advisors LLC now owns 31,496 shares of the offshore drilling services provider’s stock valued at $197,000 after purchasing an additional 2,170 shares in the last quarter. Finally, Valeo Financial Advisors LLC increased its stake in Transocean by 12.9% in the 3rd quarter. Valeo Financial Advisors LLC now owns 23,600 shares of the offshore drilling services provider’s stock valued at $194,000 after purchasing an additional 2,700 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

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.