Royal Bank Of Canada set a $11.00 target price on Transocean Ltd. (NYSE:RIG) in a research report report published on Sunday morning. The brokerage currently has a hold rating on the offshore drilling services provider’s stock.
Other analysts also recently issued reports about the company. Pareto Securities raised Transocean from a hold rating to a buy rating in a research note on Friday, August 18th. Evercore ISI reaffirmed a buy rating and set a $18.00 price objective on shares of Transocean in a research note on Thursday, August 10th. ValuEngine raised Transocean from a hold rating to a buy rating in a research note on Thursday, August 17th. Zacks Investment Research raised Transocean from a hold rating to a buy rating and set a $9.50 price objective for the company in a research note on Wednesday, August 2nd. Finally, Credit Suisse Group reaffirmed a buy rating on shares of Transocean in a research note on Wednesday, July 19th. Ten research analysts have rated the stock with a sell rating, thirteen have given a hold rating and sixteen have given a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $12.31.
Shares of Transocean (NYSE RIG) opened at $10.71 on Friday. The stock has a market capitalization of $4,397.24, a PE ratio of 14.05 and a beta of 1.81. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.36 and a quick ratio of 2.13. Transocean has a 1 year low of $7.20 and a 1 year high of $16.66.
Transocean (NYSE:RIG) last announced its earnings results on Wednesday, November 1st. The offshore drilling services provider reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.20. The firm had revenue of $808.00 million during the quarter, compared to analysts’ expectations of $703.13 million. Transocean had a positive return on equity of 2.10% and a negative net margin of 84.09%. The business’s revenue was down 10.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.25 EPS. research analysts anticipate that Transocean will post -0.35 earnings per share for the current year.
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In other Transocean news, CAO Howard E. Davis acquired 40,000 shares of the firm’s stock in a transaction dated Thursday, August 17th. The shares were acquired at an average price of $7.32 per share, for a total transaction of $292,800.00. Following the completion of the acquisition, the chief accounting officer now directly owns 21,793 shares of the company’s stock, valued at $159,524.76. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.33% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of RIG. FMR LLC boosted its holdings in shares of Transocean by 29.3% during the first quarter. FMR LLC now owns 217,676 shares of the offshore drilling services provider’s stock worth $2,710,000 after purchasing an additional 49,283 shares during the last quarter. Thrivent Financial For Lutherans boosted its holdings in shares of Transocean by 7.6% during the first quarter. Thrivent Financial For Lutherans now owns 14,490 shares of the offshore drilling services provider’s stock worth $180,000 after purchasing an additional 1,020 shares during the last quarter. Paloma Partners Management Co boosted its holdings in shares of Transocean by 162.6% during the first quarter. Paloma Partners Management Co now owns 39,098 shares of the offshore drilling services provider’s stock worth $487,000 after purchasing an additional 24,208 shares during the last quarter. Tudor Investment Corp ET AL acquired a new stake in shares of Transocean during the first quarter worth $227,000. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Transocean during the second quarter worth $217,000. Institutional investors and hedge funds own 70.31% of the company’s stock.
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 on a dayrate basis to drill oil and gas wells. As of February 9, 2017, it owned or had partial ownership interests in and operated 56 mobile offshore drilling units.
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