Transocean (NYSE:RIG) Trading 3.8% Higher

Transocean Ltd. (NYSE:RIG)’s share price traded up 3.8% during mid-day trading on Tuesday . The company traded as high as $4.45 and last traded at $4.41. 7,490,538 shares were traded during trading, a decline of 59% from the average session volume of 18,395,898 shares. The stock had previously closed at $4.25.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Morgan Stanley lowered their price objective on Transocean from $7.00 to $5.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. DNB Markets upgraded Transocean from a “hold” rating to a “buy” rating in a research note on Tuesday, September 3rd. Benchmark reissued a “buy” rating and issued a $8.00 target price on shares of Transocean in a report on Friday, August 2nd. Citigroup lowered shares of Transocean from a “buy” rating to a “neutral” rating in a research report on Thursday, September 12th. Finally, StockNews.com upgraded shares of Transocean to a “sell” rating in a research report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $7.00.

Transocean Trading Up 3.3 %

The business has a 50 day moving average of $4.83 and a 200 day moving average of $5.41. The firm has a market cap of $4.13 billion, a price-to-earnings ratio of -8.18 and a beta of 2.79. The company has a quick ratio of 1.08, a current ratio of 1.36 and a debt-to-equity ratio of 0.63.

Transocean (NYSE:RIG) last issued its quarterly earnings results on Wednesday, July 31st. The offshore drilling services provider reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.07). Transocean had a negative return on equity of 4.76% and a negative net margin of 11.34%. The firm had revenue of $861.00 million for the quarter, compared to analysts’ expectations of $862.25 million. During the same quarter last year, the firm earned ($0.15) earnings per share. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. On average, research analysts forecast that Transocean Ltd. will post -0.18 earnings per share for the current fiscal year.

Insider Transactions at Transocean

In related news, Director (Cyprus) Ltd Perestroika acquired 2,000,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was bought at an average price of $5.23 per share, with a total value of $10,460,000.00. Following the purchase, the director now directly owns 89,574,894 shares in the company, valued at approximately $468,476,695.62. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director (Cyprus) Ltd Perestroika acquired 2,000,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was acquired at an average cost of $5.23 per share, for a total transaction of $10,460,000.00. Following the acquisition, the director now directly owns 89,574,894 shares in the company, valued at approximately $468,476,695.62. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Perestroika bought 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, with a total value of $6,195,000.00. Following the acquisition, the director now directly owns 91,074,894 shares in the company, valued at approximately $376,139,312.22. The disclosure for this purchase can be found here. Insiders own 13.16% of the company’s stock.

Institutional Trading of Transocean

A number of institutional investors have recently added to or reduced their stakes in the business. Capital World Investors lifted its stake in shares of Transocean by 34.7% during the fourth quarter. Capital World Investors now owns 39,014,318 shares of the offshore drilling services provider’s stock worth $247,741,000 after purchasing an additional 10,049,077 shares in the last quarter. Dimensional Fund Advisors LP grew its position 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 valued at $196,484,000 after acquiring an additional 5,856,414 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Transocean by 6.4% during the fourth quarter. Vanguard Group Inc. now owns 68,552,192 shares of the offshore drilling services provider’s stock worth $435,306,000 after purchasing an additional 4,107,956 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in Transocean during the 2nd quarter valued at $16,179,000. Finally, American Century Companies Inc. increased its stake in Transocean by 24.3% during the 2nd quarter. American Century Companies Inc. now owns 13,437,572 shares of the offshore drilling services provider’s stock worth $71,891,000 after buying an additional 2,623,615 shares during the period. 67.73% of the stock is owned by hedge funds and other 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.