Transocean LTD (NYSE:RIG) had its target price reduced by Jefferies Group LLC to $13.00 in a report issued on Tuesday. Jefferies Group LLC’s price objective indicates a potential upside of 6.38% from the stock’s current price.
A number of other equities analysts have also recently weighed in on the stock. Iberia Capital began coverage on shares of Transocean LTD in a research report on Friday, January 6th. They set a “sector perform” rating and a $15.00 price target on the stock. Credit Suisse Group AG upgraded shares of Transocean LTD from a “neutral” rating to an “outperform” rating and dropped their price objective for the stock from $18.00 to $12.85 in a report on Friday, February 3rd. Vetr upgraded shares of Transocean LTD from a “hold” rating to a “buy” rating and set a $14.26 price objective on the stock in a report on Monday, March 6th. Morgan Stanley lowered shares of Transocean LTD from an “equal weight” rating to an “underweight” rating and raised their price objective for the stock from $13.94 to $13.99 in a report on Thursday, February 2nd. They noted that the move was a valuation call. Finally, Bank of America Corp lowered shares of Transocean LTD from a “buy” rating to an “underperform” rating and raised their price objective for the stock from $13.00 to $16.00 in a report on Monday, January 9th. Fourteen equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $13.13.
Shares of Transocean LTD (NYSE:RIG) opened at 12.22 on Tuesday. The company has a 50-day moving average of $13.37 and a 200-day moving average of $12.30. The company has a market capitalization of $4.76 billion, a PE ratio of 5.88 and a beta of 1.87. Transocean LTD has a one year low of $8.34 and a one year high of $16.66.
Transocean LTD (NYSE:RIG) last announced its quarterly earnings results on Thursday, February 23rd. The offshore drilling services provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.55. Transocean LTD had a net margin of 23.14% and a return on equity of 6.80%. On average, analysts anticipate that Transocean LTD will post ($0.55) earnings per share for the current year.
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Several institutional investors have recently added to or reduced their stakes in RIG. TD Asset Management Inc. raised its position in Transocean LTD by 31.0% in the third quarter. TD Asset Management Inc. now owns 907,343 shares of the offshore drilling services provider’s stock worth $9,672,000 after buying an additional 214,598 shares during the period. BlackRock Advisors LLC raised its position in Transocean LTD by 2.0% in the third quarter. BlackRock Advisors LLC now owns 144,849 shares of the offshore drilling services provider’s stock worth $1,544,000 after buying an additional 2,829 shares during the period. Commonwealth Bank of Australia raised its position in Transocean LTD by 52.8% in the third quarter. Commonwealth Bank of Australia now owns 447,658 shares of the offshore drilling services provider’s stock worth $4,771,000 after buying an additional 154,600 shares during the period. Renaissance Technologies LLC raised its stake in shares of Transocean LTD by 96.8% in the fourth quarter. Renaissance Technologies LLC now owns 3,102,028 shares of the offshore drilling services provider’s stock valued at $45,724,000 after buying an additional 1,525,528 shares during the last quarter. Finally, Baird Financial Group Inc. raised its stake in shares of Transocean LTD by 2.9% in the fourth quarter. Baird Financial Group Inc. now owns 160,233 shares of the offshore drilling services provider’s stock valued at $2,362,000 after buying an additional 4,495 shares during the last quarter. Institutional investors own 63.84% of the company’s stock.
Transocean LTD Company Profile
Transocean Ltd. is an international provider of offshore contract drilling services for oil and gas wells. The Company’s primary business is to contract its drilling rigs, related equipment and work crews primarily on a day rate basis to drill oil and gas wells. The Company operates through the contract drilling services segment.
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