Morgan Stanley Keeps Their Hold Rating on Transocean (RIG)
In a report released today, Joe Laetsch from Morgan Stanley maintained a Hold rating on Transocean, with a price target of $7.00.
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According to TipRanks, Laetsch is a 3-star analyst with an average return of 3.4% and a 62.37% success rate. Laetsch covers the Energy sector, focusing on stocks such as Patterson-UTI, Liberty Energy, and NOV.
In addition to Morgan Stanley, Transocean also received a Hold from Barclays’s Eddie Kim in a report issued on April 7. However, on the same day, Susquehanna maintained a Buy rating on Transocean (NYSE: RIG).
Based on Transocean’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.04 billion and a net profit of $25 million. In comparison, last year the company earned a revenue of $952 million and had a net profit of $7 million
Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RIG in relation to earlier this year. Last month, Roderick James Mackenzie, the EVP & CCO of RIG sold 78,370.00 shares for a total of $498,433.20.
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