Transocean Ltd. (NYSE:RIG) Receives $6.25 Average Price Target from Brokerages

Shares of Transocean Ltd. (NYSE:RIG) have been assigned an average recommendation of “Hold” from the ten analysts that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $6.17.

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. raised shares of Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 price target on the stock in a report on Friday, December 6th. Morgan Stanley raised their price target on Transocean from $5.00 to $6.00 and gave the company an “equal weight” rating in a research report on Thursday, October 3rd. Susquehanna cut their price objective on Transocean from $7.00 to $6.50 and set a “positive” rating for the company in a report on Friday, November 1st. Benchmark reissued a “hold” rating on shares of Transocean in a report on Tuesday, December 3rd. Finally, StockNews.com raised Transocean to a “sell” rating in a research note on Tuesday, November 12th.

Insider Activity

In other Transocean 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 value of $85,800.00. Following the completion of the sale, the executive vice president now owns 310,857 shares in the company, valued at approximately $1,333,576.53. This trade represents a 6.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 12.54% of the company’s stock.

Hedge Funds Weigh In On Transocean

A number of hedge funds and other institutional investors have recently made changes to their positions in RIG. Principal Financial Group Inc. purchased a new position in shares of Transocean during the 2nd quarter worth approximately $383,000. Rhumbline Advisers boosted its holdings in shares of Transocean by 53,530.4% during the 2nd quarter. Rhumbline Advisers now owns 1,109,612 shares of the offshore drilling services provider’s stock valued at $5,936,000 after buying an additional 1,107,543 shares in the last quarter. Arizona State Retirement System grew its position in shares of Transocean by 3.2% in the 2nd quarter. Arizona State Retirement System now owns 206,501 shares of the offshore drilling services provider’s stock worth $1,105,000 after buying an additional 6,395 shares during the period. PFG Investments LLC increased its stake in shares of Transocean by 6.1% in the 2nd quarter. PFG Investments LLC now owns 183,137 shares of the offshore drilling services provider’s stock worth $980,000 after acquiring an additional 10,500 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in Transocean by 24.3% during the 2nd quarter. American Century Companies Inc. now owns 13,437,572 shares of the offshore drilling services provider’s stock valued at $71,891,000 after acquiring an additional 2,623,615 shares during the period. Institutional investors own 67.73% of the company’s stock.

Transocean Stock Performance

Shares of RIG opened at $4.04 on Wednesday. Transocean has a 12-month low of $3.40 and a 12-month 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 company has a market cap of $3.54 billion, a PE ratio of -5.39 and a beta of 2.73. The stock has a 50-day moving average price of $4.08 and a 200-day moving average price of $4.54.

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.