Transocean (NYSE:RIG) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Transocean (NYSE:RIG) to a sell rating in a research report report published on Tuesday morning.

RIG has been the subject of several other research reports. Citigroup cut Transocean from a “buy” rating to a “neutral” rating in a report on Thursday, September 12th. DNB Markets upgraded Transocean from a “hold” rating to a “buy” rating in a report on Tuesday, September 3rd. Benchmark lowered shares of Transocean from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. Barclays reduced their target price on shares of Transocean from $6.00 to $4.50 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. Finally, Susquehanna dropped their price target on shares of Transocean from $7.00 to $6.50 and set a “positive” rating for the company in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Transocean currently has an average rating of “Hold” and an average target price of $6.63.

Transocean Stock Down 5.5 %

Shares of NYSE RIG opened at $4.22 on Tuesday. The company has a current ratio of 1.64, a quick ratio of 1.34 and a debt-to-equity ratio of 0.64. The company has a 50-day moving average of $4.31 and a 200 day moving average of $4.99. Transocean has a 12-month low of $3.85 and a 12-month high of $6.88. The stock has a market cap of $3.69 billion, a PE ratio of -5.62 and a beta of 2.78.

Insiders Place Their Bets

In other Transocean news, Director Perestroika bought 1,500,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were purchased at an average cost of $4.13 per share, with a total value of $6,195,000.00. Following the purchase, the director now directly owns 91,074,894 shares in the company, valued at approximately $376,139,312.22. This represents a 1.67 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 13.16% of the stock is owned by insiders.

Institutional Trading of Transocean

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Transocean by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 68,982,142 shares of the offshore drilling services provider’s stock worth $433,208,000 after purchasing an additional 429,950 shares in the last quarter. Primecap Management Co. CA increased its stake in shares of Transocean by 0.4% during the third quarter. Primecap Management Co. CA now owns 56,342,169 shares of the offshore drilling services provider’s stock worth $239,454,000 after buying an additional 222,680 shares during the period. Capital World Investors raised its holdings in Transocean by 18.8% in the first quarter. Capital World Investors now owns 46,334,990 shares of the offshore drilling services provider’s stock valued at $290,984,000 after acquiring an additional 7,320,672 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Transocean by 19.0% in the second quarter. Dimensional Fund Advisors LP now owns 36,725,995 shares of the offshore drilling services provider’s stock worth $196,484,000 after acquiring an additional 5,856,414 shares during the last quarter. Finally, State Street Corp increased its position in shares of Transocean by 11.0% in the 3rd quarter. State Street Corp now owns 19,594,121 shares of the offshore drilling services provider’s stock valued at $83,275,000 after purchasing an additional 1,944,723 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

About Transocean

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.