Transocean Ltd. (NYSE:RIG) Receives Average Recommendation of “Hold” from Brokerages

Transocean Ltd. (NYSE:RIG) has been assigned an average rating of “Hold” from the ten ratings firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $6.17.

A number of research firms have recently issued reports on RIG. Susquehanna reduced their price target on shares of Transocean from $7.00 to $6.50 and set a “positive” rating on the stock in a research report on Friday, November 1st. JPMorgan Chase & Co. upgraded shares of Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 price objective on the stock in a research report on Friday, December 6th. Benchmark reiterated a “hold” rating on shares of Transocean in a research report on Tuesday, December 3rd. Barclays upgraded shares of Transocean from an “equal weight” rating to an “overweight” rating and set a $4.50 price objective on the stock in a research report on Wednesday, December 18th. Finally, StockNews.com upgraded shares of Transocean to a “sell” rating in a research report on Tuesday, November 12th.

Insiders Place Their Bets

In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $4.05, for a total transaction of $89,100.00. Following the sale, the executive vice president now directly owns 229,596 shares in the company, valued at approximately $929,863.80. The trade was a 8.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 13.16% of the stock is owned by insiders.

Institutional Trading of Transocean

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Transocean by 138.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,633 shares of the offshore drilling services provider’s stock worth $25,000 after purchasing an additional 2,693 shares in the last quarter. Orion Portfolio Solutions LLC bought a new stake in shares of Transocean in the 3rd quarter worth approximately $46,000. Atria Investments Inc bought a new stake in shares of Transocean in the 3rd quarter worth approximately $51,000. Pallas Capital Advisors LLC raised its holdings in shares of Transocean by 25.6% in the 4th quarter. Pallas Capital Advisors LLC now owns 15,332 shares of the offshore drilling services provider’s stock worth $57,000 after purchasing an additional 3,127 shares in the last quarter. Finally, Abel Hall LLC bought a new stake in shares of Transocean in the 3rd quarter worth approximately $65,000. 67.73% of the stock is currently owned by institutional investors.

Transocean Trading Down 0.5 %

Transocean stock opened at $4.07 on Wednesday. The firm’s 50-day moving average is $4.07 and its 200-day moving average is $4.51. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.34 and a current ratio of 1.64. Transocean has a 1 year low of $3.40 and a 1 year high of $6.88. The company has a market cap of $3.56 billion, a P/E ratio of -5.43 and a beta of 2.73.

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.