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

Transocean Ltd. (NYSE:RIG) has been assigned a consensus rating of “Hold” from the nine brokerages that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $6.63.

RIG has been the subject of a number of recent research reports. DNB Markets raised shares of Transocean from a “hold” rating to a “buy” rating in a report on Tuesday, September 3rd. Benchmark downgraded shares of Transocean from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. Morgan Stanley increased their price target on shares of Transocean from $5.00 to $6.00 and gave the company an “equal weight” rating in a report on Thursday, October 3rd. StockNews.com raised Transocean to a “sell” rating in a research note on Tuesday, November 12th. Finally, Susquehanna lowered their price objective on Transocean from $7.00 to $6.50 and set a “positive” rating for the company in a research note on Friday, November 1st.

Transocean Price Performance

Shares of Transocean stock opened at $4.38 on Tuesday. The firm has a market cap of $3.84 billion, a PE ratio of -5.84 and a beta of 2.78. The stock has a 50 day moving average of $4.33 and a 200 day moving average of $4.93. The company has a current ratio of 1.64, a quick ratio of 1.34 and a debt-to-equity ratio of 0.64. Transocean has a 12 month low of $3.85 and a 12 month high of $6.88.

Insider Activity

In other Transocean news, EVP Roderick James Mackenzie sold 20,000 shares of the company’s stock in a transaction on Monday, November 18th. The stock was 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 in the company, valued at approximately $1,333,576.53. This represents a 6.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Perestroika purchased 1,500,000 shares of the business’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 purchase, the director now owns 91,074,894 shares of the company’s stock, valued at approximately $376,139,312.22. This trade represents a 1.67 % increase in their position. The disclosure for this purchase can be found here. Insiders own 13.16% of the company’s stock.

Institutional Inflows and Outflows

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

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.