Transocean (NYSE:RIG) PT Raised to $6.00 at Morgan Stanley

Transocean (NYSE:RIG) had its price target increased by stock analysts at Morgan Stanley from $5.00 to $6.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the offshore drilling services provider’s stock. Morgan Stanley’s price objective suggests a potential upside of 28.62% from the company’s current price.

Several other research firms have also recently weighed in on RIG. StockNews.com raised Transocean to a “sell” rating in a report on Thursday, September 26th. Benchmark reissued a “buy” rating and issued a $8.00 target price on shares of Transocean in a research report on Friday, August 2nd. Citigroup lowered shares of Transocean from a “buy” rating to a “neutral” rating in a research report on Thursday, September 12th. Finally, DNB Markets raised shares of Transocean from a “hold” rating to a “buy” rating in a report on Tuesday, September 3rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $7.13.

Transocean Stock Up 1.9 %

Shares of NYSE:RIG opened at $4.67 on Thursday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.08 and a current ratio of 1.36. Transocean has a 52-week low of $3.85 and a 52-week high of $8.03. The firm has a market capitalization of $4.39 billion, a P/E ratio of -8.97 and a beta of 2.79. The stock has a 50 day moving average price of $4.76 and a 200-day moving average price of $5.38.

Transocean (NYSE:RIG) last posted its quarterly earnings results on Wednesday, July 31st. The offshore drilling services provider reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.07). Transocean had a negative net margin of 11.34% and a negative return on equity of 4.76%. The firm had revenue of $861.00 million for the quarter, compared to analysts’ expectations of $862.25 million. During the same quarter in the previous year, the company earned ($0.15) EPS. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Transocean will post -0.18 EPS for the current fiscal year.

Insider Buying and Selling at Transocean

In other Transocean news, Director (Cyprus) Ltd Perestroika purchased 2,000,000 shares of Transocean stock in a transaction dated Friday, August 2nd. The shares were acquired at an average cost of $5.23 per share, with a total value of $10,460,000.00. Following the completion of the transaction, the director now owns 89,574,894 shares in the company, valued at approximately $468,476,695.62. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director (Cyprus) Ltd Perestroika acquired 2,000,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was acquired at an average price of $5.23 per share, for a total transaction of $10,460,000.00. Following the completion of the transaction, the director now owns 89,574,894 shares in the company, valued at approximately $468,476,695.62. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Perestroika acquired 1,500,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were bought at an average cost of $4.13 per share, for a total transaction of $6,195,000.00. Following the completion of the acquisition, the director now owns 91,074,894 shares of the company’s stock, valued at approximately $376,139,312.22. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 13.16% of the stock is owned by insiders.

Institutional Trading of Transocean

Hedge funds and other institutional investors have recently made changes to their positions in the company. OLD Point Trust & Financial Services N A purchased a new stake in shares of Transocean in the fourth quarter valued at about $25,000. Northwestern Mutual Wealth Management Co. raised its holdings in Transocean by 138.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,633 shares of the offshore drilling services provider’s stock valued at $25,000 after acquiring an additional 2,693 shares during the last quarter. Nisa Investment Advisors LLC acquired a new stake in shares of Transocean during the second quarter worth $30,000. Fiducient Advisors LLC purchased a new stake in Transocean in the 1st quarter valued at about $63,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Transocean in the second quarter worth approximately $64,000. Institutional investors and hedge funds 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.