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

Transocean Ltd. (NYSE:RIG) rose 1.7% during trading on Tuesday . The stock traded as high as $3.55 and last traded at $3.53. Approximately 5,469,973 shares traded hands during mid-day 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 Analyst Weigh In

Several equities research analysts have issued reports on the stock. Citigroup downgraded shares of Transocean from a “buy” rating to a “neutral” rating in a research note on Thursday, September 12th. DNB Markets upgraded Transocean from a “hold” rating to a “buy” rating in a research note on Tuesday, September 3rd. Benchmark reiterated a “hold” rating on shares of Transocean in a research note on Tuesday, December 3rd. StockNews.com raised Transocean to a “sell” rating in a research report on Tuesday, November 12th. Finally, Susquehanna dropped their price objective on shares of Transocean from $7.00 to $6.50 and set a “positive” rating on the stock in a research note on Friday, November 1st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $6.25.

Transocean Stock Up 1.7 %

The company has a debt-to-equity ratio of 0.64, a current ratio of 1.64 and a quick ratio of 1.34. The firm has a market cap of $3.09 billion, a P/E ratio of -4.71 and a beta of 2.75. The firm’s 50-day moving average price is $4.16 and its 200 day moving average price is $4.67.

Insiders Place Their Bets

In other Transocean news, EVP Roderick James Mackenzie sold 20,000 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $4.29, for a total transaction of $85,800.00. Following the sale, the executive vice president now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 12.54% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Transocean

Institutional investors have recently modified their holdings of the business. Franklin Resources Inc. acquired a new position in Transocean in the third quarter valued at approximately $157,000. Geode Capital Management LLC grew its stake 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 worth $73,307,000 after buying an additional 680,242 shares during the last quarter. Abel Hall LLC bought a new stake in Transocean in the third quarter valued at $65,000. Barclays PLC lifted its stake in Transocean by 60.1% in the third quarter. Barclays PLC now owns 1,623,924 shares of the offshore drilling services provider’s stock valued at $6,902,000 after buying an additional 609,681 shares during the last quarter. Finally, Orion Portfolio Solutions LLC bought a new position in shares of Transocean during the third quarter worth about $46,000. Institutional investors own 67.73% of the company’s stock.

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.