Transocean (NYSE:RIG) Trading 0.8% Higher – Time to Buy?

Transocean Ltd. (NYSE:RIG) was up 0.8% on Monday . The company traded as high as $4.05 and last traded at $3.99. Approximately 5,808,481 shares were traded during trading, a decline of 66% from the average daily volume of 17,223,396 shares. The stock had previously closed at $3.96.

Analysts Set New Price Targets

Several equities research analysts have weighed in on RIG shares. Citigroup downgraded shares of Transocean from a “buy” rating to a “neutral” rating in a research note on Thursday, September 12th. TD Cowen decreased their target price on shares of Transocean from $6.50 to $5.50 and set a “hold” rating for the company in a research report on Wednesday. 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. Barclays upgraded Transocean from an “equal weight” rating to an “overweight” rating and set a $4.50 price objective for the company in a research report on Wednesday, December 18th. Finally, Benchmark reaffirmed a “hold” rating on shares of Transocean in a research note on Tuesday, December 3rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Transocean has a consensus rating of “Hold” and an average target price of $6.17.

Transocean Trading Down 4.1 %

The firm has a market capitalization of $3.49 billion, a PE ratio of -5.32 and a beta of 2.73. The business has a fifty day moving average price of $4.08 and a two-hundred day moving average price of $4.54. The company has a current ratio of 1.64, a quick ratio of 1.34 and a debt-to-equity ratio of 0.64.

Insider Transactions at Transocean

In other news, EVP Roderick James Mackenzie sold 20,000 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $4.29, for a total value of $85,800.00. Following the sale, the executive vice president now directly owns 310,857 shares in the company, valued at approximately $1,333,576.53. This trade represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 12.54% of the company’s stock.

Institutional Investors Weigh In On Transocean

A number of large investors have recently modified their holdings of the company. Oppenheimer Asset Management Inc. raised its holdings in Transocean by 10.9% during the third quarter. Oppenheimer Asset Management Inc. now owns 25,170 shares of the offshore drilling services provider’s stock worth $107,000 after purchasing an additional 2,469 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake 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 acquiring an additional 2,693 shares during the period. Kovitz Investment Group Partners LLC boosted its holdings 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 acquiring an additional 4,027 shares in the last quarter. CWM LLC raised its holdings in Transocean by 36.1% during the third quarter. CWM LLC now owns 17,065 shares of the offshore drilling services provider’s stock worth $73,000 after purchasing an additional 4,529 shares in the last quarter. Finally, nVerses Capital LLC lifted its position in Transocean by 9.3% in the third quarter. nVerses Capital LLC now owns 60,100 shares of the offshore drilling services provider’s stock valued at $255,000 after purchasing an additional 5,100 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

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.