Transocean Ltd. (NYSE:RIG) Receives $6.25 Consensus Target Price from Brokerages

Transocean Ltd. (NYSE:RIG) has earned a consensus rating of “Hold” from the ten brokerages that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $6.17.

Several equities analysts have recently weighed in on RIG shares. Susquehanna reduced their price target on Transocean from $7.00 to $6.50 and set a “positive” rating for the company in a report on Friday, November 1st. JPMorgan Chase & Co. upgraded shares of Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 price objective for the company in a research note on Friday, December 6th. StockNews.com upgraded shares of Transocean to a “sell” rating in a research note on Tuesday, November 12th. TD Cowen reduced their price target on shares of Transocean from $6.50 to $5.50 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Finally, Benchmark reaffirmed a “hold” rating on shares of Transocean in a research report on Tuesday, December 3rd.

Transocean Stock Performance

Transocean stock opened at $4.04 on Wednesday. The stock’s 50 day moving average is $4.07 and its 200 day moving average is $4.52. The company has a market capitalization of $3.54 billion, a P/E ratio of -5.39 and a beta of 2.73. Transocean has a twelve month low of $3.40 and a twelve month high of $6.88. The company has a quick ratio of 1.34, a current ratio of 1.64 and a debt-to-equity ratio of 0.64.

Insider Transactions at Transocean

In other Transocean news, EVP Roderick James Mackenzie sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $4.29, for a total transaction 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 approximately $1,333,576.53. This represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 13.16% of the company’s stock.

Institutional Investors Weigh In On Transocean

A number of hedge funds have recently modified their holdings of the business. Harbor Capital Advisors Inc. raised its holdings in Transocean by 28.0% in the 4th quarter. Harbor Capital Advisors Inc. now owns 42,803 shares of the offshore drilling services provider’s stock worth $161,000 after purchasing an additional 9,361 shares during the period. Franklin Resources Inc. bought a new position in shares of Transocean in the third quarter worth about $157,000. Geode Capital Management LLC raised 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 buying an additional 680,242 shares during the period. Abel Hall LLC purchased a new position in shares of Transocean during the 3rd quarter valued at about $65,000. Finally, Barclays PLC grew its stake in shares of Transocean by 60.1% during the 3rd quarter. Barclays PLC now owns 1,623,924 shares of the offshore drilling services provider’s stock valued at $6,902,000 after acquiring an additional 609,681 shares during the period. Institutional investors own 67.73% of the company’s stock.

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.