Transocean (NYSE:RIG) Trading 1.5% Higher – Still a Buy?

Transocean Ltd. (NYSE:RIG)’s stock price traded up 1.5% during trading on Friday . The company traded as high as $4.19 and last traded at $4.05. 8,083,603 shares traded hands during trading, a decline of 65% from the average session volume of 23,414,295 shares. The stock had previously closed at $3.99.

Wall Street Analyst Weigh In

RIG has been the subject of several recent analyst reports. Morgan Stanley increased their price objective on Transocean from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 3rd. Barclays raised shares of Transocean from an “equal weight” rating to an “overweight” rating and set a $4.50 price target for the company in a report on Wednesday, December 18th. Benchmark reaffirmed a “hold” rating on shares of Transocean in a research note on Tuesday, December 3rd. 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. Finally, TD Cowen reduced their target price on Transocean from $6.50 to $5.50 and set a “hold” rating on the stock in a report on Wednesday. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $6.17.

Transocean Trading Up 1.3 %

The business has a 50 day moving average of $4.07 and a 200 day moving average of $4.52. The firm has a market capitalization of $3.54 billion, a price-to-earnings ratio of -5.39 and a beta of 2.73. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.64 and a quick ratio of 1.34.

Insider Buying and Selling at Transocean

In related news, EVP Roderick James Mackenzie sold 20,000 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $4.29, for a total transaction of $85,800.00. Following the sale, the executive vice president now owns 310,857 shares in the company, valued at approximately $1,333,576.53. This represents a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 13.16% of the company’s stock.

Hedge Funds Weigh In On Transocean

Hedge funds and other institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. bought a new stake in shares of Transocean in the second quarter valued at about $383,000. Rhumbline Advisers grew its position 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 worth $5,936,000 after purchasing an additional 1,107,543 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of Transocean by 3.2% during the second quarter. Arizona State Retirement System now owns 206,501 shares of the offshore drilling services provider’s stock worth $1,105,000 after purchasing an additional 6,395 shares during the period. American Century Companies Inc. raised its position in shares of Transocean by 24.3% in the second 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 buying an additional 2,623,615 shares in the last quarter. Finally, Meeder Advisory Services Inc. boosted its stake in shares of Transocean by 104.3% in the second quarter. Meeder Advisory Services Inc. now owns 29,344 shares of the offshore drilling services provider’s stock valued at $157,000 after buying an additional 14,984 shares during the period. 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.