Transocean (NYSE:RIG) Trading Up 1.4% – Should You Buy?

Shares of Transocean Ltd. (NYSE:RIG) shot up 1.4% during mid-day trading on Friday . The stock traded as high as $3.62 and last traded at $3.62. 6,371,761 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 18,669,459 shares. The stock had previously closed at $3.57.

Wall Street Analyst Weigh In

RIG has been the subject of a number of research reports. JPMorgan Chase & Co. upgraded shares of 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. Barclays raised 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. DNB Markets upgraded Transocean from a “hold” rating to a “buy” rating in a research note on Tuesday, September 3rd. Morgan Stanley increased their price objective on shares of Transocean from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 3rd. Finally, StockNews.com upgraded shares of Transocean to a “sell” rating in a research report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $6.25.

Transocean Price Performance

The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.34 and a current ratio of 1.64. The company has a market cap of $3.09 billion, a P/E ratio of -4.71 and a beta of 2.75. The firm’s fifty day moving average is $4.13 and its two-hundred day moving average is $4.64.

Insider Transactions at Transocean

In other news, EVP Roderick James Mackenzie sold 20,000 shares of the business’s stock in a transaction on 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 owns 310,857 shares of the company’s stock, valued at approximately $1,333,576.53. The trade was a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 13.16% of the company’s stock.

Institutional Trading of Transocean

Institutional investors and hedge funds have recently bought and sold shares of the stock. Franklin Resources Inc. purchased a new position in shares of Transocean during the third quarter valued at about $157,000. Geode Capital Management LLC grew its holdings in 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 valued at $73,307,000 after buying an additional 680,242 shares in the last quarter. Abel Hall LLC bought a new stake in Transocean in the 3rd quarter worth approximately $65,000. Barclays PLC raised its holdings in shares of Transocean by 60.1% during the 3rd quarter. Barclays PLC now owns 1,623,924 shares of the offshore drilling services provider’s stock worth $6,902,000 after acquiring an additional 609,681 shares in the last quarter. Finally, Orion Portfolio Solutions LLC bought a new position in shares of Transocean during the 3rd quarter valued at approximately $46,000. 67.73% of the stock is currently owned by institutional investors.

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.