Trade Report: Today, Transocean Ltd. (RIG) Receives $10.74 Average PT from Analysts

Today, Transocean Ltd. (RIG) Receives $10.74 Average PT from Analysts

Transocean Ltd. (NYSE:RIG) has earned an average recommendation of “Hold” from the thirty-two analysts that are presently covering the company. Nine equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have issued a buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $10.74.

A number of analysts recently issued reports on the stock. Nomura restated a “sell” rating and set a $7.00 target price on shares of Transocean in a research report on Monday, September 26th. Jefferies Group restated a “hold” rating and set a $11.00 target price (up previously from $8.50) on shares of Transocean in a research report on Friday, November 4th. Canaccord Genuity raised shares of Transocean from a “sell” rating to a “hold” rating in a research note on Thursday, September 15th. Scotiabank raised shares of Transocean from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from $12.00 to $14.00 in a research note on Tuesday, October 4th. Finally, Howard Weil raised shares of Transocean from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from $12.00 to $14.00 in a research note on Tuesday, October 4th.

Transocean (NYSE:RIG) opened at 11.66 on Wednesday. The company’s 50 day moving average is $10.36 and its 200-day moving average is $10.47. The firm has a market cap of $4.26 billion, a P/E ratio of 3.69 and a beta of 1.87. Transocean has a 52 week low of $7.67 and a 52 week high of $14.65.

Several hedge funds and other institutional investors have recently bought and sold shares of RIG. BlackRock Fund Advisors raised its position in Transocean by 3.7% in the first quarter. BlackRock Fund Advisors now owns 3,332,717 shares of the offshore drilling services provider’s stock valued at $30,461,000 after buying an additional 119,934 shares during the period. UBS Asset Management Americas Inc. raised its position in Transocean by 204.9% in the first quarter. UBS Asset Management Americas Inc. now owns 406,630 shares of the offshore drilling services provider’s stock valued at $3,716,000 after buying an additional 273,271 shares during the period. Geode Capital Management LLC raised its position in Transocean by 3.1% in the first quarter. Geode Capital Management LLC now owns 2,573,954 shares of the offshore drilling services provider’s stock valued at $23,484,000 after buying an additional 76,425 shares during the period. AMP Capital Investors Ltd raised its position in Transocean by 8.8% in the first quarter. AMP Capital Investors Ltd now owns 150,519 shares of the offshore drilling services provider’s stock valued at $1,329,000 after buying an additional 12,220 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new position in Transocean during the first quarter valued at approximately $1,404,000. 73.87% of the stock is owned by institutional investors and hedge funds.

Related posts

Leave a Comment