Transocean (NYSE:RIG) Trading Up 0.7% – Should You Buy?

Transocean Ltd. (NYSE:RIG)’s share price rose 0.7% on Monday . The company traded as high as $4.13 and last traded at $4.06. Approximately 5,106,515 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 24,257,090 shares. The stock had previously closed at $4.03.

Analyst Ratings Changes

RIG has been the topic of several research reports. Morgan Stanley boosted their price objective on shares of Transocean from $5.00 to $6.00 and gave the stock an “equal weight” rating in a report on Thursday, October 3rd. Barclays upgraded Transocean from an “equal weight” rating to an “overweight” rating and set a $4.50 price target on the stock in a research note on Wednesday, December 18th. Benchmark reissued a “hold” rating on shares of Transocean in a report on Tuesday, December 3rd. StockNews.com upgraded Transocean to a “sell” rating in a research note on Tuesday, November 12th. Finally, TD Cowen reduced their target price on Transocean from $6.50 to $5.50 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $6.17.

Transocean Trading Up 1.0 %

The firm has a market cap of $3.56 billion, a P/E ratio of -5.43 and a beta of 2.73. 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’s fifty day moving average price is $4.07 and its two-hundred day moving average price is $4.52.

Insiders Place Their Bets

In other news, EVP Roderick James Mackenzie sold 20,000 shares of the firm’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 trade represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 13.16% of the company’s stock.

Institutional Trading of Transocean

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. increased its stake in shares of Transocean by 138.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,633 shares of the offshore drilling services provider’s stock valued at $25,000 after buying an additional 2,693 shares during the period. Orion Portfolio Solutions LLC acquired a new stake in Transocean in the third quarter worth about $46,000. Atria Investments Inc bought a new stake in Transocean during the 3rd quarter worth about $51,000. Kovitz Investment Group Partners LLC lifted its position in Transocean by 34.0% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 15,877 shares of the offshore drilling services provider’s stock valued at $62,000 after purchasing an additional 4,027 shares during the period. Finally, Abel Hall LLC bought a new position in shares of Transocean in the 3rd quarter valued at about $65,000. Institutional investors and hedge funds 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.