Transocean (NYSE:RIG) Upgraded to “Sell” at StockNews.com

StockNews.com upgraded shares of Transocean (NYSE:RIG) to a sell rating in a research note published on Tuesday.

Several other equities research analysts have also recently commented on RIG. Citigroup cut Transocean from a “buy” rating to a “neutral” rating in a report on Thursday, September 12th. Susquehanna cut their price objective on shares of Transocean from $7.00 to $6.50 and set a “positive” rating for the company in a research report on Friday, November 1st. Barclays lowered their price objective on Transocean from $6.00 to $4.50 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Morgan Stanley lifted their target price on Transocean from $5.00 to $6.00 and gave the company an “equal weight” rating in a research report on Thursday, October 3rd. Finally, DNB Markets upgraded Transocean from a “hold” rating to a “buy” rating in a report on Tuesday, September 3rd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Transocean presently has a consensus rating of “Hold” and a consensus target price of $6.63.

Transocean Stock Performance

Transocean stock opened at $4.46 on Tuesday. The company has a quick ratio of 1.34, a current ratio of 1.64 and a debt-to-equity ratio of 0.64. Transocean has a 52-week low of $3.85 and a 52-week high of $6.88. The company has a fifty day simple moving average of $4.31 and a 200-day simple moving average of $5.00.

Insider Activity

In other Transocean news, Director Perestroika acquired 1,500,000 shares of the stock in a transaction dated Thursday, September 12th. The stock was acquired at an average price of $4.13 per share, with a total value of $6,195,000.00. Following the completion of the purchase, the director now owns 91,074,894 shares in the company, valued at $376,139,312.22. This trade represents a 1.67 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 13.16% of the company’s stock.

Institutional Investors Weigh In On Transocean

Hedge funds have recently added to or reduced their stakes in the business. Point72 Europe London LLP purchased a new stake in shares of Transocean during the third quarter worth $8,935,000. Capstone Investment Advisors LLC acquired a new stake in Transocean in the 3rd quarter valued at about $73,000. MetLife Investment Management LLC boosted its stake in shares of Transocean by 125.9% in the 3rd quarter. MetLife Investment Management LLC now owns 415,031 shares of the offshore drilling services provider’s stock valued at $1,764,000 after buying an additional 231,334 shares during the period. BNP Paribas Financial Markets grew its position in shares of Transocean by 209.6% during the third quarter. BNP Paribas Financial Markets now owns 173,494 shares of the offshore drilling services provider’s stock worth $737,000 after buying an additional 117,459 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Transocean by 334.2% during the third quarter. The Manufacturers Life Insurance Company now owns 1,660,176 shares of the offshore drilling services provider’s stock worth $7,056,000 after buying an additional 1,277,814 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

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.