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

Shares of Transocean Ltd. (NYSE:RIG) have received a consensus recommendation of “Hold” from the nine research firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $6.25.

Several research firms have weighed in on RIG. Susquehanna lowered their target price 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. Citigroup downgraded shares of Transocean from a “buy” rating to a “neutral” rating in a research report on Thursday, September 12th. Barclays raised shares of Transocean from an “equal weight” rating to an “overweight” rating and set a $4.50 target price on the stock in a report on Wednesday, December 18th. Morgan Stanley upped their target price on Transocean from $5.00 to $6.00 and gave the company an “equal weight” rating in a report on Thursday, October 3rd. Finally, StockNews.com raised Transocean to a “sell” rating in a report on Tuesday, November 12th.

Insider Activity at Transocean

In other Transocean news, EVP Roderick James Mackenzie sold 20,000 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $4.29, for a total transaction of $85,800.00. Following the sale, the executive vice president now directly owns 310,857 shares in the company, valued at approximately $1,333,576.53. The trade was a 6.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 12.54% of the stock is owned by insiders.

Institutional Investors Weigh In On Transocean

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RIG. Primecap Management Co. CA lifted its holdings in Transocean by 0.4% in the 3rd quarter. Primecap Management Co. CA now owns 56,342,169 shares of the offshore drilling services provider’s stock valued at $239,454,000 after acquiring an additional 222,680 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Transocean by 19.0% during 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 purchasing an additional 5,856,414 shares during the last quarter. State Street Corp boosted its holdings in Transocean by 11.0% during the third quarter. State Street Corp now owns 19,594,121 shares of the offshore drilling services provider’s stock worth $83,275,000 after buying an additional 1,944,723 shares in the last quarter. Pilgrim Global Advisors LLC acquired a new position in Transocean in the third quarter worth approximately $77,473,000. Finally, Geode Capital Management LLC increased its holdings 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 valued at $73,307,000 after buying an additional 680,242 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Transocean Price Performance

Shares of NYSE RIG opened at $4.15 on Wednesday. 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 market capitalization of $3.63 billion, a price-to-earnings ratio of -5.53 and a beta of 2.73. Transocean has a twelve month low of $3.40 and a twelve month high of $6.88. The business has a 50 day simple moving average of $4.08 and a 200-day simple moving average of $4.54.

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.