Transocean LTD (NYSE:RIG) has received a consensus rating of “Hold” from the twenty-five research firms that are currently covering the company, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $4.71.
Several equities analysts have recently commented on the stock. Morgan Stanley dropped their target price on shares of Transocean from $7.50 to $2.00 and set an “overweight” rating for the company in a research report on Monday, March 16th. Tudor Pickering cut shares of Transocean from a “buy” rating to a “hold” rating in a research note on Thursday, May 21st. R. F. Lafferty reduced their target price on Transocean from $5.00 to $3.00 and set a “buy” rating on the stock in a report on Friday, March 27th. Bank of America lowered Transocean from a “neutral” rating to an “underperform” rating in a research note on Monday, March 9th. Finally, Barclays downgraded Transocean from an “overweight” rating to an “equal weight” rating and set a $1.50 price objective for the company. in a research report on Thursday, March 19th.
Institutional investors have recently modified their holdings of the stock. Comerica Bank raised its position in Transocean by 0.7% during the 4th quarter. Comerica Bank now owns 343,819 shares of the offshore drilling services provider’s stock worth $1,630,000 after purchasing an additional 2,394 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Transocean by 4.2% in the fourth quarter. ProShare Advisors LLC now owns 78,672 shares of the offshore drilling services provider’s stock valued at $541,000 after buying an additional 3,188 shares during the period. Guggenheim Capital LLC raised its position in shares of Transocean by 5.4% during the fourth quarter. Guggenheim Capital LLC now owns 72,862 shares of the offshore drilling services provider’s stock worth $501,000 after acquiring an additional 3,703 shares during the last quarter. Blair William & Co. IL boosted its holdings in Transocean by 4.2% in the fourth quarter. Blair William & Co. IL now owns 94,438 shares of the offshore drilling services provider’s stock valued at $650,000 after acquiring an additional 3,845 shares during the last quarter. Finally, Mason Street Advisors LLC increased its position in Transocean by 1.4% during the 4th quarter. Mason Street Advisors LLC now owns 305,915 shares of the offshore drilling services provider’s stock valued at $2,105,000 after purchasing an additional 4,322 shares during the period. 69.71% of the stock is currently owned by institutional investors.
Transocean (NYSE:RIG) last issued its quarterly earnings results on Wednesday, April 29th. The offshore drilling services provider reported ($0.30) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.29) by ($0.01). Transocean had a negative return on equity of 7.44% and a negative net margin of 47.72%. The company had revenue of $759.00 million during the quarter, compared to the consensus estimate of $791.17 million. As a group, research analysts anticipate that Transocean will post -1 EPS for the current year.
Transocean Company Profile
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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