Transocean (RIG) Upgraded to Buy by ValuEngine


ValuEngine upgraded shares of Transocean (NYSE:RIG) from a hold rating to a buy rating in a research note released on Wednesday morning.

Several other research firms have also recently issued reports on RIG. Bank of America increased their price objective on Transocean from $12.00 to $13.00 and gave the stock a neutral rating in a research report on Wednesday, April 18th. Citigroup increased their price objective on Transocean from $15.00 to $16.00 and gave the stock a buy rating in a research report on Monday, April 30th. Susquehanna Bancshares set a $11.00 price objective on Transocean and gave the stock a hold rating in a research report on Friday, January 12th. Cowen set a $11.00 price objective on Transocean and gave the stock a hold rating in a research report on Thursday, January 11th. Finally, Piper Jaffray set a $11.00 price objective on Transocean and gave the stock a hold rating in a research report on Wednesday, January 10th. Eight investment analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $11.79.

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Shares of Transocean stock traded up $0.40 during trading hours on Wednesday, hitting $12.08. 14,063,733 shares of the company were exchanged, compared to its average volume of 17,516,848. Transocean has a 1 year low of $7.20 and a 1 year high of $12.75. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.50 and a quick ratio of 3.06. The stock has a market capitalization of $5,360.12, a PE ratio of -201.33 and a beta of 1.47.

Transocean (NYSE:RIG) last released its quarterly earnings data on Monday, April 30th. The offshore drilling services provider reported ($0.48) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.38) by ($0.10). The business had revenue of $664.00 million during the quarter, compared to analysts’ expectations of $638.38 million. Transocean had a negative return on equity of 1.79% and a negative net margin of 120.20%. During the same quarter in the previous year, the company posted $0.23 EPS. equities research analysts anticipate that Transocean will post -0.82 EPS for the current year.


In related news, SVP David A. Tonnel sold 9,000 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $9.39, for a total transaction of $84,510.00. Following the sale, the senior vice president now owns 75,349 shares of the company’s stock, valued at $707,527.11. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Frederik Wilhelm Mohn acquired 2,000,000 shares of the firm’s stock in a transaction that occurred on Friday, March 2nd. The shares were bought at an average cost of $9.29 per share, for a total transaction of $18,580,000.00. The disclosure for this purchase can be found here. 0.33% of the stock is owned by company insiders.

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Several institutional investors and hedge funds have recently bought and sold shares of the stock. Quantitative Systematic Strategies LLC acquired a new stake in shares of Transocean during the first quarter valued at $135,000. Swiss National Bank boosted its stake in shares of Transocean by 15.0% during the first quarter. Swiss National Bank now owns 766,230 shares of the offshore drilling services provider’s stock valued at $7,586,000 after acquiring an additional 99,900 shares during the last quarter. Wellington Shields Capital Management LLC acquired a new stake in shares of Transocean during the first quarter valued at $266,000. Comerica Bank boosted its stake in shares of Transocean by 8.1% during the first quarter. Comerica Bank now owns 366,664 shares of the offshore drilling services provider’s stock valued at $4,598,000 after acquiring an additional 27,528 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its stake in shares of Transocean by 6.7% during the first quarter. Oppenheimer & Co. Inc. now owns 91,572 shares of the offshore drilling services provider’s stock valued at $907,000 after acquiring an additional 5,768 shares during the last quarter. 63.70% of the stock is currently owned by institutional investors and hedge funds.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Transocean (NYSE:RIG)

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