Rig Stock – Transocean Ltd. (NYSE:RIG) Given Average Recommendation of “Hold” by Brokerages
Transocean Ltd. (NYSE:RIG) has been assigned a consensus rating of “Hold” from the ten brokerages that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $2.78.
RIG has been the subject of several recent research reports. Morgan Stanley increased their price target on shares of Transocean from $2.50 to $3.50 and gave the stock an “equal weight” rating in a research report on Tuesday, April 13th. Susquehanna Bancshares lowered their price target on Transocean from $5.00 to $3.50 and set a “neutral” rating on the stock in a research report on Wednesday, May 5th. Susquehanna reduced their price target on shares of Transocean from $5.00 to $3.50 and set a “neutral” rating on the stock in a research report on Wednesday, May 5th. Finally, Barclays reaffirmed an “underweight” rating and issued a $2.00 target price (up from $1.00) on shares of Transocean in a research note on Thursday, March 11th.
Shares of NYSE RIG opened at $4.42 on Friday. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of -8.50 and a beta of 3.63. Transocean has a one year low of $0.65 and a one year high of $4.81. The company has a fifty day moving average price of $3.62. The company has a quick ratio of 1.63, a current ratio of 1.96 and a debt-to-equity ratio of 0.63.
Transocean (NYSE:RIG) last announced its quarterly earnings results on Sunday, May 2nd. The offshore drilling services provider reported ($0.19) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.18) by ($0.01). The business had revenue of $653.00 million during the quarter, compared to the consensus estimate of $653.71 million. Transocean had a negative net margin of 9.00% and a negative return on equity of 3.51%. The company’s quarterly revenue was down 14.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.30) EPS. On average, equities analysts anticipate that Transocean will post -0.55 EPS for the current year.
A number of hedge funds have recently made changes to their positions in the business. Eqis Capital Management Inc. lifted its stake in shares of Transocean by 29.8% in the 1st quarter. Eqis Capital Management Inc. now owns 14,556 shares of the offshore drilling services provider’s stock valued at $52,000 after purchasing an additional 3,340 shares during the period. Nisa Investment Advisors LLC boosted its holdings in Transocean by 29.2% during the first quarter. Nisa Investment Advisors LLC now owns 16,800 shares of the offshore drilling services provider’s stock worth $60,000 after buying an additional 3,800 shares during the last quarter. Fruth Investment Management increased its stake in Transocean by 5.4% in the first quarter. Fruth Investment Management now owns 77,364 shares of the offshore drilling services provider’s stock valued at $274,000 after purchasing an additional 3,998 shares in the last quarter. Blair William & Co. IL boosted its position in shares of Transocean by 8.7% during the first quarter. Blair William & Co. IL now owns 93,501 shares of the offshore drilling services provider’s stock worth $332,000 after purchasing an additional 7,500 shares in the last quarter. Finally, Meeder Asset Management Inc. grew its holdings in shares of Transocean by 979.0% in the 1st quarter. Meeder Asset Management Inc. now owns 10,186 shares of the offshore drilling services provider’s stock valued at $36,000 after buying an additional 9,242 shares during the period. 52.37% of the stock is currently owned by hedge funds and other institutional investors.
Transocean Company Profile
Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts its drilling rigs, related equipment, and work crews to drill oil and gas wells. As of February 22, 2021, the company owned or had partial ownership interests in and operated a fleet of 37 mobile offshore drilling units, including 27 ultra-deepwater and 10 harsh environment floaters.
See Also: What is the Federal Reserve?
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Featured Article: How to Use the New Google Finance Tool
7 Stocks to Support Your New Year’s Resolutions
After a year like 2020, many Americans figure that just getting to 2021 was enough. But for many people, the start of a new year still means making resolutions. And while many Americans are still waking up to Groundhog’s Day, there is hope that things will look dramatically different in September than they do right now.
Some of the most popular resolutions include losing weight, exercising more, or taking steps to get our life and/or business more organized. And many pure-play companies lean into these trends and are doing well.
As an alternative to this, you can also invest in companies that are not pure plays but can still benefit from consumers looking to start fresh. Owning these stocks helps you manage your risk. If the trend holds, you can ride the wave. On the other hand, if the wave turns into a ripple, the stocks have other catalysts to get them through.
In this special presentation, we’ll take a look at both of these categories. We’ve got several pure-play companies that let investors buy stocks in companies benefiting from these trends. We’ll also give you a few stocks that fall in the latter category.
These are stocks that you might buy at any time and for many reasons. However, they present excellent buys as the new year begins.
View the “7 Stocks to Support Your New Year’s Resolutions”.
Rig Stock – Transocean Ltd. (NYSE:RIG) Given Average Recommendation of “Hold” by Brokerages]
Tags: Rig Stock