Shares of Transocean LTD (NYSE:RIG) have been given a consensus recommendation of “Hold” by the twenty-three analysts that are presently covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a sell recommendation, fourteen have given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $2.46.
RIG has been the topic of a number of recent analyst reports. Evercore ISI started coverage on shares of Transocean in a research report on Thursday, August 6th. They issued a “hold” rating and a $4.00 price target on the stock. UBS Group downgraded shares of Transocean from a “positive” rating to a “neutral” rating and dropped their target price for the stock from $2.50 to $1.15 in a report on Wednesday, September 16th. Clarkson Capital cut shares of Transocean from a “buy” rating to a “neutral” rating and set a $2.40 price target for the company. in a report on Monday, June 15th. Susquehanna Bancshares downgraded Transocean from a “positive” rating to a “neutral” rating and lowered their price target for the company from $2.50 to $1.15 in a research report on Wednesday, September 16th. Finally, Morgan Stanley cut Transocean from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, July 8th.
RIG traded up $0.02 on Monday, hitting $0.80. The company had a trading volume of 21,577,801 shares, compared to its average volume of 28,666,422. The stock has a market cap of $490.25 million, a price-to-earnings ratio of -0.28 and a beta of 2.34. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.07 and a quick ratio of 1.78. The company’s fifty day moving average price is $1.24 and its 200 day moving average price is $1.55. Transocean has a 1-year low of $0.73 and a 1-year high of $7.28.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Marathon Trading Investment Management LLC acquired a new stake in Transocean during the first quarter worth $27,000. Fortem Financial Group LLC bought a new position in shares of Transocean during the 2nd quarter worth about $27,000. Glassman Wealth Services boosted its position in shares of Transocean by 2,920.3% during the 2nd quarter. Glassman Wealth Services now owns 16,400 shares of the offshore drilling services provider’s stock valued at $30,000 after acquiring an additional 15,857 shares in the last quarter. Private Advisor Group LLC increased its stake in Transocean by 103.0% in the first quarter. Private Advisor Group LLC now owns 26,816 shares of the offshore drilling services provider’s stock valued at $31,000 after acquiring an additional 13,604 shares during the period. Finally, US Bancorp DE raised its position in Transocean by 104.3% in the second quarter. US Bancorp DE now owns 17,485 shares of the offshore drilling services provider’s stock worth $31,000 after purchasing an additional 8,925 shares in the last quarter. Institutional investors and hedge funds own 56.71% 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 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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