Transocean Ltd. (NYSE:RIG) saw unusually large options trading activity on Tuesday. Stock investors acquired 47,393 call options on the stock. This is an increase of 683% compared to the typical volume of 6,049 call options.
Several equities analysts have recently weighed in on RIG shares. BMO Capital Markets reaffirmed a “sell” rating and set a $10.00 price target on shares of Transocean in a research note on Tuesday, April 18th. Credit Suisse Group set a $18.00 price target on shares of Transocean and gave the stock a “buy” rating in a research note on Thursday, April 20th. R. F. Lafferty decreased their price target on shares of Transocean from $21.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, May 15th. BidaskClub cut shares of Transocean from a “sell” rating to a “strong sell” rating in a research note on Friday, June 23rd. Finally, Royal Bank Of Canada reissued a “sell” rating and issued a $13.00 target price on shares of Transocean in a research note on Friday, May 5th. Sixteen analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. Transocean has an average rating of “Hold” and an average target price of $12.86.
Several hedge funds have recently added to or reduced their stakes in the stock. Federated Investors Inc. PA acquired a new stake in Transocean during the fourth quarter valued at $101,000. Public Employees Retirement Association of Colorado boosted its stake in Transocean by 12.7% in the second quarter. Public Employees Retirement Association of Colorado now owns 12,340 shares of the offshore drilling services provider’s stock valued at $102,000 after buying an additional 1,394 shares during the last quarter. FNY Partners Fund LP acquired a new stake in Transocean during the first quarter valued at $108,000. WFG Advisors LP boosted its stake in Transocean by 40.7% in the first quarter. WFG Advisors LP now owns 8,856 shares of the offshore drilling services provider’s stock valued at $110,000 after buying an additional 2,562 shares during the last quarter. Finally, Ameritas Investment Partners Inc. acquired a new stake in Transocean during the first quarter valued at $116,000. 67.53% of the stock is currently owned by hedge funds and other institutional investors.
Transocean (NYSE:RIG) opened at 8.69 on Friday. The firm has a 50-day moving average price of $8.40 and a 200-day moving average price of $11.35. Transocean has a 52-week low of $7.67 and a 52-week high of $16.66. The company has a market cap of $3.40 billion, a PE ratio of 5.23 and a beta of 1.67.
Transocean (NYSE:RIG) last issued its quarterly earnings data on Wednesday, May 3rd. The offshore drilling services provider reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.09. The business had revenue of $785 million for the quarter, compared to analysts’ expectations of $737.51 million. Transocean had a return on equity of 2.57% and a net margin of 17.28%. On average, analysts forecast that Transocean will post ($0.41) EPS for the current year.
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About Transocean
Transocean Ltd. is an international provider of offshore contract drilling services for oil and gas wells. The Company’s primary business is to contract its drilling rigs, related equipment and work crews on a dayrate basis to drill oil and gas wells. As of February 9, 2017, it owned or had partial ownership interests in and operated 56 mobile offshore drilling units.
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