BTIG analyst Gregory Lewis maintained a Buy rating on Transocean (RIG – Research Report) yesterday and set a price target of $12.00. The company’s shares opened today at $6.40.
According to TipRanks, Lewis is an analyst with an average return of -1.2% and a 47.42% success rate. Lewis covers the Energy sector, focusing on stocks such as Frontline, Scorpio Tankers, and Transocean.
Currently, the analyst consensus on Transocean is a Moderate Buy with an average price target of $9.60.
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Based on Transocean’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $713 million and a GAAP net loss of $220 million. In comparison, last year the company earned a revenue of $691 million and had a GAAP net loss of $28 million
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Transocean (RIG) Company Description:
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.
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