Transocean (NYSE:RIG) Trading 3.3% Higher – Should You Buy?

Shares of Transocean Ltd. (NYSE:RIG) rose 3.3% on Tuesday . The stock traded as high as $3.79 and last traded at $3.78. Approximately 6,645,973 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 18,740,057 shares. The stock had previously closed at $3.66.

Analyst Upgrades and Downgrades

RIG has been the subject of a number of research analyst reports. Morgan Stanley increased their price target on shares of Transocean from $5.00 to $6.00 and gave the company an “equal weight” rating in a report on Thursday, October 3rd. Benchmark reaffirmed a “hold” rating on shares of Transocean in a research note on Tuesday, December 3rd. StockNews.com raised shares of Transocean to a “sell” rating in a research note on Tuesday, November 12th. Citigroup cut shares of Transocean from a “buy” rating to a “neutral” rating in a research report on Thursday, September 12th. Finally, Barclays raised shares of Transocean from an “equal weight” rating to an “overweight” rating and set a $4.50 price objective for the company in a research note on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $6.25.

Transocean Stock Up 2.5 %

The stock has a 50-day moving average of $4.08 and a 200-day moving average of $4.58. The firm has a market cap of $3.28 billion, a price-to-earnings ratio of -5.00 and a beta of 2.75. The company has a current ratio of 1.64, a quick ratio of 1.34 and a debt-to-equity ratio of 0.64.

Insider Transactions at Transocean

In related news, EVP Roderick James Mackenzie sold 20,000 shares of Transocean 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 sale, the executive vice president now owns 310,857 shares of the company’s stock, valued at approximately $1,333,576.53. This trade represents a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 13.16% of the company’s stock.

Institutional Investors Weigh In On Transocean

A number of large investors have recently added to or reduced their stakes in the stock. Pilgrim Global Advisors LLC bought a new position in Transocean in the 3rd quarter worth approximately $77,473,000. Dimensional Fund Advisors LP boosted its holdings in Transocean by 19.0% in the 2nd 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 period. American Century Companies Inc. grew its position in Transocean by 24.3% in 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 purchasing an additional 2,623,615 shares during the last quarter. Kailix Advisors LLC lifted its stake in shares of Transocean by 59.9% in the third quarter. Kailix Advisors LLC now owns 6,620,451 shares of the offshore drilling services provider’s stock valued at $28,137,000 after buying an additional 2,481,059 shares during the period. Finally, Point72 Europe London LLP acquired a new stake in Transocean during the third quarter worth about $8,935,000. 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.