Transocean Ltd. (NYSE:RIG) - Stock analysts at Jefferies Group issued their FY2021 earnings per share (EPS) estimates for shares of Transocean in a research note issued to investors on Tuesday. Jefferies Group analyst E. Royes expects that the offshore drilling services provider will post earnings per share of ($0.60) for the year. Jefferies Group has a “Hold” rating and a $9.00 price objective on the stock.
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A number of other analysts also recently commented on the company. Instinet reissued a “reduce” rating and issued a $7.00 price objective (down previously from $8.00) on shares of Transocean in a research note on Saturday. Pareto Securities raised Transocean from a “hold” rating to a “buy” rating in a research note on Friday. Nomura dropped their price objective on Transocean from $8.00 to $7.00 and set a “reduce” rating on the stock in a research note on Thursday. ValuEngine raised Transocean from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Bank of America Corporation raised Transocean from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $7.00 to $9.00 in a research note on Tuesday. Eleven research analysts have rated the stock with a sell rating, fifteen have given a hold rating and twelve have issued a buy rating to the company’s stock. Transocean has a consensus rating of “Hold” and an average price target of $12.42.
Shares of Transocean (NYSE:RIG) opened at 7.48 on Thursday. Transocean has a 12-month low of $7.20 and a 12-month high of $16.66. The firm’s market cap is $2.93 billion. The firm has a 50-day moving average price of $8.37 and a 200 day moving average price of $10.64. Transocean also saw unusually large options trading on Wednesday. Traders bought 17,912 call options on the company. This is an increase of approximately 175% compared to the typical daily volume of 6,510 call options.
Several hedge funds have recently added to or reduced their stakes in RIG. Public Employees Retirement Association of Colorado increased 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 period. FNY Partners Fund LP bought a new stake in Transocean during the first quarter valued at about $108,000. WFG Advisors LP increased 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 period. Capstone Investment Advisors Netherlands B.V. bought a new stake in Transocean during the second quarter valued at about $111,000. Finally, Advisor Partners LLC bought a new stake in Transocean during the second quarter valued at about $112,000. Institutional investors own 69.31% of the company’s stock.
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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