Transocean Ltd. (NYSE:RIG) Given Average Recommendation of “Hold” by Analysts

Transocean Ltd. (NYSE:RIG) has received an average rating of “Hold” from the nine research firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $6.63.

Several equities analysts recently issued reports on RIG shares. Susquehanna reduced their price target on shares of Transocean from $7.00 to $6.50 and set a “positive” rating on the stock in a research report on Friday, November 1st. Morgan Stanley increased their target price on Transocean from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 3rd. DNB Markets upgraded Transocean from a “hold” rating to a “buy” rating in a research report on Tuesday, September 3rd. Benchmark downgraded Transocean from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. Finally, StockNews.com upgraded shares of Transocean to a “sell” rating in a report on Tuesday, November 12th.

Insider Buying and Selling at Transocean

In other news, EVP Roderick James Mackenzie sold 20,000 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $4.29, for a total value of $85,800.00. Following the completion of the sale, the executive vice president now directly owns 310,857 shares of the company’s stock, valued at $1,333,576.53. This represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Perestroika acquired 1,500,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were purchased at an average price of $4.13 per share, for a total transaction of $6,195,000.00. Following the completion of the transaction, the director now directly owns 91,074,894 shares in the company, valued at approximately $376,139,312.22. This trade represents a 1.67 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 13.16% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Transocean

A number of institutional investors and hedge funds have recently bought and sold shares of RIG. Geode Capital Management LLC boosted its stake in shares of Transocean by 4.1% in the third quarter. Geode Capital Management LLC now owns 17,245,298 shares of the offshore drilling services provider’s stock worth $73,307,000 after acquiring an additional 680,242 shares during the period. Abel Hall LLC bought a new position in Transocean in the 3rd quarter worth approximately $65,000. Barclays PLC boosted its stake in Transocean by 60.1% in the 3rd quarter. Barclays PLC now owns 1,623,924 shares of the offshore drilling services provider’s stock worth $6,902,000 after purchasing an additional 609,681 shares during the period. Orion Portfolio Solutions LLC purchased a new stake in Transocean during the 3rd quarter valued at approximately $46,000. Finally, XTX Topco Ltd raised its position in shares of Transocean by 555.6% during the third quarter. XTX Topco Ltd now owns 652,578 shares of the offshore drilling services provider’s stock valued at $2,773,000 after buying an additional 553,033 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Transocean Stock Performance

NYSE:RIG opened at $4.38 on Tuesday. The company has a quick ratio of 1.34, a current ratio of 1.64 and a debt-to-equity ratio of 0.64. The firm’s fifty day simple moving average is $4.33 and its 200 day simple moving average is $4.93. The stock has a market cap of $3.84 billion, a P/E ratio of -5.84 and a beta of 2.78. Transocean has a twelve month low of $3.85 and a twelve month high of $6.88.

Transocean Company Profile

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. The company operates a fleet of mobile offshore drilling units, consisting of ultra-deepwater floaters and harsh environment floaters.