Transocean (NYSE:RIG) Announces Earnings Results

Transocean (NYSE:RIG) issued its earnings results on Monday. The offshore drilling services provider reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.11), Zacks reports. Transocean had a negative net margin of 18.81% and a negative return on equity of 1.48%. The firm had revenue of $952.00 million during the quarter, compared to analysts’ expectations of $962.28 million.

Transocean Trading Down 3.2 %

Transocean stock traded down $0.12 during mid-day trading on Wednesday, hitting $3.44. 8,165,276 shares of the company’s stock were exchanged, compared to its average volume of 25,888,898. The firm has a market capitalization of $3.01 billion, a P/E ratio of -4.59, a PEG ratio of 0.85 and a beta of 2.70. Transocean has a fifty-two week low of $3.38 and a fifty-two week high of $6.88. The company has a quick ratio of 1.34, a current ratio of 1.64 and a debt-to-equity ratio of 0.64. The company’s 50 day simple moving average is $3.82 and its 200-day simple moving average is $4.23.

Analyst Ratings Changes

RIG has been the subject of several recent analyst reports. Evercore ISI downgraded Transocean from an “outperform” rating to an “in-line” rating and decreased their price target for the stock from $6.00 to $5.00 in a research note on Wednesday, January 15th. TD Cowen decreased their price target on Transocean from $6.50 to $5.50 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Barclays upgraded Transocean from an “equal weight” rating to an “overweight” rating and set a $4.50 price target for the company in a research note on Wednesday, December 18th. Benchmark reiterated a “hold” rating on shares of Transocean in a research note on Tuesday, December 3rd. Finally, 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 research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $5.94.

Insider Buying and Selling

In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of Transocean 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 sale, the executive vice president now owns 313,072 shares of the company’s stock, valued at $1,205,327.20. This trade represents a 6.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 13.16% of the stock is currently owned by company insiders.

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.