Transocean (NYSE:RIG) Stock Price Up 1.7% – What’s Next?

Transocean Ltd. (NYSE:RIG) shares were up 1.7% on Tuesday . The company traded as high as $3.55 and last traded at $3.53. Approximately 5,469,973 shares traded hands during trading, a decline of 71% from the average daily volume of 18,692,535 shares. The stock had previously closed at $3.47.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on RIG shares. JPMorgan Chase & Co. upgraded Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 target price for the company in a research note on Friday, December 6th. Citigroup cut Transocean from a “buy” rating to a “neutral” rating in a research note on Thursday, September 12th. Morgan Stanley increased their price target 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. DNB Markets upgraded shares of Transocean from a “hold” rating to a “buy” rating in a research note on Tuesday, September 3rd. Finally, Benchmark reiterated a “hold” rating on shares of Transocean in a research note on Tuesday, December 3rd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $6.25.

Transocean Stock Performance

The company has a quick ratio of 1.34, a current ratio of 1.64 and a debt-to-equity ratio of 0.64. The firm has a market cap of $3.09 billion, a PE ratio of -4.71 and a beta of 2.75. The firm has a 50-day moving average price of $4.14 and a two-hundred day moving average price of $4.65.

Insider Buying and Selling 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 value of $85,800.00. Following the transaction, the executive vice president now directly owns 310,857 shares in the company, valued at $1,333,576.53. The trade was a 6.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 12.54% of the stock is owned by company insiders.

Institutional Trading of Transocean

Several institutional investors have recently made changes to their positions in RIG. Franklin Resources Inc. acquired a new stake in Transocean during the third quarter worth $157,000. Geode Capital Management LLC increased its position in shares of Transocean by 4.1% during the 3rd 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 last quarter. Abel Hall LLC purchased a new stake in Transocean in the 3rd quarter valued at about $65,000. Barclays PLC boosted its stake in Transocean by 60.1% during the third quarter. Barclays PLC now owns 1,623,924 shares of the offshore drilling services provider’s stock worth $6,902,000 after buying an additional 609,681 shares during the period. Finally, Orion Portfolio Solutions LLC acquired a new stake in shares of Transocean during the third quarter valued at about $46,000. Hedge funds and other institutional investors 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.