Transocean (NYSE:RIG) Stock Price Down 4.4% – Should You Sell?

Transocean Ltd. (NYSE:RIG)’s share price traded down 4.4% during mid-day trading on Thursday . The company traded as low as $4.08 and last traded at $4.09. 4,479,950 shares changed hands during trading, a decline of 82% from the average session volume of 24,468,018 shares. The stock had previously closed at $4.28.

Analysts Set New Price Targets

Several equities research analysts have recently commented on RIG shares. Barclays upgraded shares of Transocean from an “equal weight” rating to an “overweight” rating and set a $4.50 price objective for the company in a research note on Wednesday, December 18th. Benchmark reiterated a “hold” rating on shares of Transocean in a research note on Tuesday, December 3rd. TD Cowen reduced their price objective on Transocean from $6.50 to $5.50 and set a “hold” rating for the company in a research note on Wednesday, January 8th. JPMorgan Chase & Co. upgraded Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 target price on the stock in a research report on Friday, December 6th. Finally, Morgan Stanley raised their price target on shares of Transocean from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.94.

Transocean Stock Performance

The firm’s fifty day moving average price is $4.05 and its two-hundred day moving average price is $4.50. The stock has a market capitalization of $3.59 billion, a PE ratio of -5.46, a price-to-earnings-growth ratio of 0.67 and a beta of 2.73. The company has a current ratio of 1.64, a quick ratio of 1.34 and a debt-to-equity ratio of 0.64.

Insiders Place Their Bets

In other news, EVP Roderick James Mackenzie sold 22,000 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was 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 $929,863.80. This trade represents a 8.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 13.16% of the company’s stock.

Hedge Funds Weigh In On Transocean

A number of large investors have recently bought and sold shares of RIG. Northwestern Mutual Wealth Management Co. increased its position in shares of Transocean by 138.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,633 shares of the offshore drilling services provider’s stock valued at $25,000 after buying an additional 2,693 shares in the last quarter. Orion Portfolio Solutions LLC purchased a new stake in Transocean in the 3rd quarter worth $46,000. Atria Investments Inc acquired a new position in Transocean during the third quarter worth $51,000. Pallas Capital Advisors LLC lifted its holdings in Transocean by 25.6% during the fourth quarter. Pallas Capital Advisors LLC now owns 15,332 shares of the offshore drilling services provider’s stock valued at $57,000 after purchasing an additional 3,127 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC grew its position in shares of Transocean by 34.0% in the third quarter. Kovitz Investment Group Partners LLC now owns 15,877 shares of the offshore drilling services provider’s stock valued at $62,000 after purchasing an additional 4,027 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

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.