For the stock price target value has been calculated at $9.09 based on calls of 29 experts. The remaining was generated from rig activities, integrated services and others. Finally, TheStreet raised Transocean from a “sell” rating to a “hold” rating in a research report on Thursday, July 21st. Jefferies Group reaffirmed a “hold” rating on shares of Transocean in a report on Sunday, July 10th. Susquehanna raised shares of Transocean from a “negative” rating to a “neutral” rating in a report on Friday. Its down 4.11% from 90.85 million shares, reported previously. Zacks Investment Research upgraded shares of Transocean from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Wednesday, June 29th.
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Duke Energy Corporation (NYSE:DUK) traded 3.08 Million shares on last trading day with closing price of $85.15.
Transocean’s operating income came in at $154 million, down from $506 million profit in second-quarter 2015.
Several hedge funds recently bought and sold shares of the stock. Retirement Systems of Alabama now owns 881,831 shares of the offshore drilling services provider’s stock worth $10,485,000 after buying an additional 394,877 shares during the last quarter. While it may be worth keeping an eye on Transocean as a potential investment, there’s certainly no rush to go and buy shares today. Transocean CEO and President, Jeremy Thigpen said: “I am very pleased with the company’s second quarter operating and financial results”. Advisory Services Network LLC now owns 14,107 shares of the offshore drilling services provider’s stock worth $168,000 after buying an additional 1,750 shares during the last quarter.
The stock increased 3.64% or $0.38 during the last trading session, hitting $10.83.
For investors, it’s encouraging to see management making the right moves, but it will likely take a long time before its stock actually realizes the benefits of these changes. The stock’s market capitalization is 3.96B, it has a 52-week low of 7.67 and a 52-week high of 17.19. The company’s 50 day moving average is $11.51 and its 200 day moving average is $10.30. The stock’s low price in its 52 week is $7.67 per share while $17.19 as the 52 week high price.
The shares have received a consensus rating of Sell for the current week Also, Equity Analysts at the Brokerage Firm, Wells Fargo, upgrades their rating on the shares of Transocean Ltd. (NYSE:RIG).
Transocean Ltd.is an worldwide provider of offshore contract drilling services for oil and gas wells. The firm earned $943 million during the quarter, compared to the consensus estimate of $920.73 million. With very little new work coming in the door, total fleet utilization was down to 47% compared to 75% this time previous year. However, the bottom line decreased from the year-ago adjusted earnings of $1.11 per share. On average, analysts anticipate that Transocean will post $0.67 EPS for the current fiscal year.
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Low oil and gas prices have adversely affected global energy companies’ liquidity position. The Company’s primary business is to contract its drilling rigs, related equipment and work crews primarily on a day rate basis to drill oil and gas wells. The company offers deep-water and harsh environment drilling, oil and gas drilling management, and drilling engineering and project management services, as well as explores, develops, and produces oil and gas resources.
