Transocean (NYSE:RIG) Stock Price Down 2% – Time to Sell?

Transocean Ltd. (NYSE:RIG)’s stock price fell 2% during trading on Monday . The stock traded as low as $3.46 and last traded at $3.46. 3,434,289 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 18,700,352 shares. The stock had previously closed at $3.53.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Barclays raised 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. Morgan Stanley lifted their price target on shares of Transocean from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 3rd. DNB Markets upgraded shares of Transocean from a “hold” rating to a “buy” rating in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. raised shares of Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 target price for the company in a research report on Friday, December 6th. Finally, Susquehanna decreased their price target on Transocean from $7.00 to $6.50 and set a “positive” rating for the company in a research note on Friday, November 1st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $6.25.

Transocean Price Performance

The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.34 and a current ratio of 1.64. The company’s fifty day moving average price is $4.15 and its 200 day moving average price is $4.65. The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of -4.71 and a beta of 2.75.

Insider Buying and Selling at Transocean

In other Transocean 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 of the company’s stock, valued at $1,333,576.53. This trade represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 12.54% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Transocean

Several institutional investors have recently modified their holdings of the company. Oppenheimer Asset Management Inc. boosted its stake in Transocean by 10.9% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 25,170 shares of the offshore drilling services provider’s stock valued at $107,000 after purchasing an additional 2,469 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of Transocean by 138.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,633 shares of the offshore drilling services provider’s stock worth $25,000 after buying an additional 2,693 shares during the period. Kovitz Investment Group Partners LLC grew its holdings in Transocean by 34.0% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 15,877 shares of the offshore drilling services provider’s stock worth $62,000 after buying an additional 4,027 shares in the last quarter. CWM LLC increased its position in Transocean by 36.1% in the 3rd quarter. CWM LLC now owns 17,065 shares of the offshore drilling services provider’s stock valued at $73,000 after acquiring an additional 4,529 shares during the period. Finally, Verdence Capital Advisors LLC raised its stake in Transocean by 19.8% during the 2nd quarter. Verdence Capital Advisors LLC now owns 30,235 shares of the offshore drilling services provider’s stock valued at $162,000 after acquiring an additional 5,000 shares in the last quarter. 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.