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

Shares of Transocean Ltd. (NYSE:RIG) have received an average recommendation of “Hold” from the ten analysts that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $5.94.

A number of research analysts have recently commented on RIG shares. TD Cowen dropped their price target on Transocean from $6.50 to $5.50 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. JPMorgan Chase & Co. raised Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 price objective on the stock in a report on Friday, December 6th. 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 report on Wednesday, December 18th. StockNews.com raised shares of Transocean to a “sell” rating in a research note on Tuesday, November 12th. Finally, Evercore ISI lowered shares of Transocean from an “outperform” rating to an “in-line” rating and reduced their price target for the company from $6.00 to $5.00 in a research report on Wednesday, January 15th.

Insider Activity at Transocean

In other news, EVP Roderick James Mackenzie sold 20,000 shares of the stock in a transaction that occurred 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 sale, the executive vice president now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 13.16% of the stock is owned by insiders.

Institutional Investors Weigh In On Transocean

Institutional investors have recently added to or reduced their stakes in the company. Primecap Management Co. CA lifted its position in shares of 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 worth $239,454,000 after purchasing an additional 222,680 shares during the period. State Street Corp grew its position in shares of Transocean by 11.0% in the 3rd 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 during the period. Pilgrim Global Advisors LLC purchased a new position in Transocean during the 3rd quarter valued at about $77,473,000. Geode Capital Management LLC grew its holdings in 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 purchasing an additional 680,242 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in shares of Transocean by 33.9% during the fourth quarter. Van ECK Associates Corp now owns 15,393,873 shares of the offshore drilling services provider’s stock valued at $57,727,000 after purchasing an additional 3,895,880 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Transocean Stock Performance

Shares of RIG stock opened at $3.92 on Friday. The firm’s 50-day simple moving average is $3.95 and its two-hundred day simple moving average is $4.39. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.34 and a current ratio of 1.64. Transocean has a 52 week low of $3.40 and a 52 week high of $6.88. The firm has a market cap of $3.43 billion, a price-to-earnings ratio of -5.22, a P/E/G ratio of 0.77 and a beta of 2.73.

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.