In a report released today, Daniel Boyd from BMO Capital reiterated a Sell rating on Transocean LTD (NYSE: RIG), with a price target of $8. The company’s shares opened today at $12.37.
According to TipRanks.com, Boyd ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -6.7% and a 36.3% success rate. Boyd covers the Basic Materials sector, focusing on stocks such as C&J Energy Services Inc, Schlumberger Limited, and Nabors Industries.
Currently, the analyst consensus on Transocean LTD is a Moderate Buy with an average price target of $13.37.
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Based on Transocean LTD’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $790 million and GAAP net loss of $1.14 billion. In comparison, last year the company earned revenue of $751 million and had a GAAP net loss of $1.69 billion.
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Transocean Ltd. engages in the provision of offshore contract drilling services for oil and gas wells. It also owns and operates offshore drilling fleet such as ultra-deepwater, harsh-environment, deepwater, and midwater rigs. The company was founded in 1954 and is headquartered in Vernier, Switzerland.
