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

Transocean (NYSE:RIG) had its price objective dropped by stock analysts at Barclays from $4.50 to $4.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the offshore drilling services provider’s stock. Barclays‘s price objective indicates a potential upside of 29.66% from the stock’s previous close.

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

Transocean Price Performance

Shares of NYSE:RIG opened at $3.09 on Tuesday. Transocean has a 1-year low of $3.06 and a 1-year high of $6.88. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.47 and a quick ratio of 1.34. The business has a fifty day moving average price of $3.76 and a 200-day moving average price of $4.16. The company has a market capitalization of $2.71 billion, a PE ratio of -4.23, a PEG ratio of 0.86 and a beta of 2.70.

Transocean (NYSE:RIG) last issued its quarterly 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). Transocean had a negative net margin of 14.53% and a negative return on equity of 0.52%. The company had revenue of $952.00 million for the quarter, compared to the consensus estimate of $962.28 million. As a group, equities analysts expect that Transocean will post 0.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $3.85, for a total value of $84,700.00. Following the transaction, the executive vice president now directly owns 313,072 shares of the company’s stock, valued at approximately $1,205,327.20. This trade represents a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 13.16% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Transocean by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 78,811,863 shares of the offshore drilling services provider’s stock valued at $295,544,000 after buying an additional 931,684 shares in the last quarter. Primecap Management Co. CA lifted its position in shares of Transocean by 0.4% during the 3rd quarter. Primecap Management Co. CA now owns 56,342,169 shares of the offshore drilling services provider’s stock valued at $239,454,000 after buying an additional 222,680 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Transocean by 2.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 40,008,596 shares of the offshore drilling services provider’s stock valued at $150,029,000 after buying an additional 809,864 shares in the last quarter. State Street Corp lifted its position in shares of Transocean by 11.0% during the 3rd quarter. State Street Corp now owns 19,594,121 shares of the offshore drilling services provider’s stock valued at $83,275,000 after buying an additional 1,944,723 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Transocean by 51.5% during the 4th quarter. American Century Companies Inc. now owns 19,257,437 shares of the offshore drilling services provider’s stock valued at $72,215,000 after buying an additional 6,542,271 shares in the last quarter. 67.73% of the stock is 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 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.