Transocean Ltd. (NYSE:RIG) Receives Average Recommendation of “Hold” from Brokerages

Shares of Transocean Ltd. (NYSE:RIG) have been given a consensus rating of “Hold” by the nine analysts that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $6.25.

A number of research analysts recently issued reports on RIG shares. Barclays decreased their price objective 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. StockNews.com raised Transocean to a “sell” rating in a report on Tuesday, November 12th. Citigroup lowered shares of Transocean from a “buy” rating to a “neutral” rating in a report on Thursday, September 12th. Susquehanna lowered their price objective on Transocean from $7.00 to $6.50 and set a “positive” rating for the company in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. upgraded shares of Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 target price on the stock in a report on Friday, December 6th.

Transocean Trading Down 1.9 %

Shares of RIG stock opened at $3.87 on Friday. The stock has a market cap of $3.38 billion, a P/E ratio of -5.15 and a beta of 2.75. Transocean has a 1 year low of $3.83 and a 1 year high of $6.88. 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 stock has a 50 day simple moving average of $4.25 and a 200 day simple moving average of $4.77.

Insider Activity at Transocean

In other Transocean news, EVP Roderick James Mackenzie sold 20,000 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $4.29, for a total transaction of $85,800.00. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 13.16% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RIG. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Transocean by 138.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,633 shares of the offshore drilling services provider’s stock worth $25,000 after purchasing an additional 2,693 shares during the period. Nisa Investment Advisors LLC purchased a new position in shares of Transocean in the second quarter worth about $30,000. Orion Portfolio Solutions LLC bought a new stake in Transocean in the third quarter valued at approximately $46,000. SG Americas Securities LLC purchased a new stake in Transocean during the 2nd quarter valued at $64,000. Finally, Atria Investments Inc bought a new stake in shares of Transocean in the third quarter worth about $51,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

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.