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

Transocean (NYSE:RIG) was upgraded by analysts at StockNews.com to a “sell” rating in a research note issued to investors on Thursday.

RIG has been the subject of a number of other reports. Citigroup cut Transocean from a “buy” rating to a “neutral” rating in a report on Thursday, September 12th. Morgan Stanley lowered their price target on Transocean from $7.00 to $5.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Benchmark reiterated a “buy” rating and set a $8.00 price target on shares of Transocean in a report on Friday, August 2nd. Finally, DNB Markets upgraded Transocean from a “hold” rating to a “buy” rating in a report on Tuesday, September 3rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $7.00.

Transocean Stock Down 3.3 %

Shares of NYSE:RIG opened at $4.42 on Thursday. The company has a quick ratio of 1.08, a current ratio of 1.36 and a debt-to-equity ratio of 0.63. The business has a fifty day moving average of $4.90 and a two-hundred day moving average of $5.43. The stock has a market cap of $3.87 billion, a P/E ratio of -8.50 and a beta of 2.79. Transocean has a 52-week low of $3.85 and a 52-week high of $8.71.

Transocean (NYSE:RIG) last issued its earnings results on Wednesday, July 31st. The offshore drilling services provider reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.07). The company had revenue of $861.00 million during the quarter, compared to analysts’ expectations of $862.25 million. Transocean had a negative net margin of 11.34% and a negative return on equity of 4.76%. The firm’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.15) earnings per share. On average, research analysts expect that Transocean will post -0.18 earnings per share for the current year.

Insider Activity at Transocean

In other news, Director Perestroika bought 1,500,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was bought at an average cost of $4.13 per share, for a total transaction of $6,195,000.00. Following the acquisition, the director now directly owns 91,074,894 shares of the company’s stock, valued at approximately $376,139,312.22. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Perestroika purchased 1,500,000 shares of Transocean stock in a transaction on Thursday, September 12th. The shares were bought at an average price of $4.13 per share, with a total value of $6,195,000.00. Following the transaction, the director now directly owns 91,074,894 shares of the company’s stock, valued at $376,139,312.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director (Cyprus) Ltd Perestroika purchased 2,000,000 shares of Transocean stock in a transaction on Friday, August 2nd. The stock was bought at an average cost of $5.23 per share, for a total transaction of $10,460,000.00. Following the transaction, the director now directly owns 89,574,894 shares in the company, valued at $468,476,695.62. The disclosure for this purchase can be found here. 13.16% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Transocean

A number of hedge funds have recently bought and sold shares of RIG. SCP Investment LP acquired a new stake in Transocean in the 4th quarter valued at about $419,000. TFO Wealth Partners LLC raised its position in shares of Transocean by 114,684.6% during the 4th quarter. TFO Wealth Partners LLC now owns 29,844 shares of the offshore drilling services provider’s stock worth $190,000 after acquiring an additional 29,818 shares in the last quarter. Madison Asset Management LLC raised its position in shares of Transocean by 23.4% during the 4th quarter. Madison Asset Management LLC now owns 2,640,000 shares of the offshore drilling services provider’s stock worth $16,764,000 after acquiring an additional 500,000 shares in the last quarter. Cloverfields Capital Group LP acquired a new stake in shares of Transocean during the 4th quarter worth about $1,008,000. Finally, Capital World Investors raised its position in shares of Transocean by 34.7% during the 4th quarter. Capital World Investors now owns 39,014,318 shares of the offshore drilling services provider’s stock worth $247,741,000 after acquiring an additional 10,049,077 shares in the last quarter. Institutional investors and hedge funds 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.