BTIG Keeps Their Hold Rating on Transocean (RIG)

BTIG analyst Gregory Lewis maintained a Hold rating on Transocean (RIG) on May 4. The company’s shares closed last Wednesday at $3.55.

According to TipRanks.com, Lewis is a 1-star analyst with an average return of -2.1% and a 41.3% success rate. Lewis covers the Industrial Goods sector, focusing on stocks such as Eagle Bulk Shipping, Golden Ocean Group, and Chart Industries.

The word on The Street in general, suggests a Hold analyst consensus rating for Transocean with a $3.19 average price target, which is a -7.0% downside from current levels. In a report released yesterday, Susquehanna also maintained a Hold rating on the stock with a $3.50 price target.

See today’s analyst top recommended stocks >>

Based on Transocean’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $690 million and GAAP net loss of $37 million. In comparison, last year the company earned revenue of $792 million and had a GAAP net loss of $51 million.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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 Steinhausen, Switzerland.