Transocean (RIG) – Analysts’ Weekly Ratings Changes

Several analysts have recently updated their ratings and price targets for Transocean (NYSE: RIG):

  • 8/1/2019 – Transocean was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 7/31/2019 – Transocean was given a new $8.00 price target on by analysts at Piper Jaffray Companies. They now have a “hold” rating on the stock.
  • 7/31/2019 – Transocean was given a new $17.00 price target on by analysts at Royal Bank of Canada. They now have a “buy” rating on the stock.
  • 7/15/2019 – Transocean was given a new $12.00 price target on by analysts at HSBC Holdings plc. They now have a “buy” rating on the stock.
  • 7/15/2019 – Transocean was given a new $10.00 price target on by analysts at Morgan Stanley. They now have a “buy” rating on the stock.
  • 6/14/2019 – Transocean was downgraded by analysts at Citigroup Inc from a “buy” rating to a “neutral” rating. They now have a $7.00 price target on the stock.
  • 6/12/2019 – Transocean was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 6/10/2019 – Transocean is now covered by analysts at Bank of America Corp. They set a “neutral” rating and a $6.50 price target on the stock.

NYSE:RIG traded down $0.46 on Friday, hitting $5.28. The company’s stock had a trading volume of 28,743,289 shares, compared to its average volume of 14,810,869. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.88 and a quick ratio of 2.37. The firm has a fifty day moving average of $6.02. The company has a market cap of $3.23 billion, a price-to-earnings ratio of -6.68 and a beta of 1.77. Transocean LTD has a one year low of $5.16 and a one year high of $14.47.

Transocean (NYSE:RIG) last released its quarterly earnings data on Monday, July 29th. The offshore drilling services provider reported ($0.34) EPS for the quarter, meeting the consensus estimate of ($0.34). The business had revenue of $758.00 million for the quarter, compared to the consensus estimate of $765.81 million. Transocean had a negative net margin of 33.49% and a negative return on equity of 4.18%. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.04) EPS. On average, equities research analysts anticipate that Transocean LTD will post -0.99 EPS for the current fiscal year.

In other news, Director Vanessa C. L. Chang purchased 4,300 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was purchased at an average cost of $5.92 per share, with a total value of $25,456.00. Following the purchase, the director now owns 14,000 shares in the company, valued at $82,880. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Howard E. Davis purchased 98,049 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were purchased at an average cost of $6.35 per share, with a total value of $622,611.15. The disclosure for this purchase can be found here. Insiders have acquired a total of 112,349 shares of company stock valued at $721,567 in the last quarter. Company insiders own 11.05% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Icon Wealth Partners LLC bought a new stake in Transocean in the first quarter valued at approximately $38,000. Nisa Investment Advisors LLC bought a new position in shares of Transocean in the 1st quarter valued at approximately $44,000. Steward Partners Investment Advisory LLC bought a new position in shares of Transocean in the 2nd quarter valued at approximately $35,000. MinichMacGregor Wealth Management LLC bought a new position in shares of Transocean in the 1st quarter valued at approximately $92,000. Finally, Quinn Opportunity Partners LLC bought a new position in shares of Transocean in the 1st quarter valued at approximately $87,000. 70.92% of the stock is owned by institutional investors.

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. The company primarily offers drilling rigs, related equipment, and work crews; and ultra-deepwater and harsh environment drilling services. As of February 18, 2019, it owned or had partial ownership interests in, and operated 48 mobile offshore drilling units that consist of 31 ultra-deepwater floaters, 13 harsh environment floaters, and 4 midwater floaters.

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