Barclays Has Lowered Expectations for Transocean (NYSE:RIG) Stock Price

Transocean (NYSE:RIG) had its target price decreased by analysts at Barclays from $4.50 to $4.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the offshore drilling services provider’s stock. Barclays‘s price target would indicate a potential upside of 20.19% from the company’s current price.

Several other equities research analysts have also issued reports on the stock. TD Cowen lowered their target price on shares of Transocean from $6.50 to $5.50 and set a “hold” rating for the company in a report on Wednesday, January 8th. Susquehanna decreased their price objective on shares of Transocean from $7.00 to $6.50 and set a “positive” rating for the company in a research note on Friday, November 1st. StockNews.com raised Transocean to a “sell” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. upgraded Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 price objective for the company in a report on Friday, December 6th. Finally, Benchmark reiterated a “hold” rating on shares of Transocean in a research note on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $5.75.

Transocean Trading Down 1.0 %

RIG opened at $3.33 on Tuesday. Transocean has a 12 month low of $3.28 and a 12 month high of $6.88. The company has a current ratio of 1.47, a quick ratio of 1.34 and a debt-to-equity ratio of 0.60. The stock has a 50-day moving average of $3.78 and a 200 day moving average of $4.18. The firm has a market cap of $2.92 billion, a P/E ratio of -4.56, a P/E/G ratio of 0.86 and a beta of 2.70.

Transocean (NYSE:RIG) last released its earnings results on Monday, February 17th. The offshore drilling services provider reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.11). The company had revenue of $952.00 million for the quarter, compared to the consensus estimate of $962.28 million. Transocean had a negative net margin of 14.53% and a negative return on equity of 0.52%. As a group, research analysts forecast that Transocean will post 0.14 EPS for the current year.

Insider Transactions at Transocean

In other news, EVP Roderick James Mackenzie sold 22,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $3.85, for a total value of $84,700.00. Following the completion of the sale, the executive vice president now owns 313,072 shares of the company’s stock, valued at approximately $1,205,327.20. This represents a 6.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 13.16% of the company’s stock.

Institutional Trading of Transocean

A number of hedge funds have recently bought and sold shares of RIG. Twin Tree Management LP purchased a new stake in shares of Transocean during the 4th quarter worth $27,000. Optiver Holding B.V. boosted its holdings in shares of Transocean by 53.6% in the 4th quarter. Optiver Holding B.V. now owns 8,400 shares of the offshore drilling services provider’s stock valued at $32,000 after buying an additional 2,933 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Transocean by 96.2% in the 4th quarter. Blue Trust Inc. now owns 9,841 shares of the offshore drilling services provider’s stock valued at $37,000 after buying an additional 4,826 shares in the last quarter. Adero Partners LLC purchased a new position in shares of Transocean in the 4th quarter worth approximately $38,000. Finally, Stratos Wealth Partners LTD. bought a new position in shares of Transocean during the 4th quarter worth approximately $40,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

About Transocean

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. The company operates a fleet of mobile offshore drilling units, consisting of ultra-deepwater floaters and harsh environment floaters.