Transocean Ltd. (NYSE:RIG) Receives $6.25 Consensus PT from Analysts

Transocean Ltd. (NYSE:RIG) has been given an average rating of “Hold” by the nine research firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $6.25.

A number of research firms have recently commented on RIG. Barclays dropped their price objective on Transocean from $6.00 to $4.50 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. StockNews.com raised Transocean to a “sell” rating in a research report on Tuesday, November 12th. Morgan Stanley increased their price objective on Transocean from $5.00 to $6.00 and gave the company an “equal weight” rating in a research report on Thursday, October 3rd. Susquehanna dropped their target price 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. Finally, JPMorgan Chase & Co. raised shares of Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 price target for the company in a report on Friday, December 6th.

Insider Activity

In other Transocean news, EVP Roderick James Mackenzie sold 20,000 shares of the company’s 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 $1,333,576.53. This represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 13.16% of the stock is owned by company insiders.

Institutional Investors Weigh In On Transocean

Institutional investors and hedge funds have recently made changes to their positions in the company. Pilgrim Global Advisors LLC bought a new position in Transocean during the 3rd quarter valued at about $77,473,000. Dimensional Fund Advisors LP raised its stake in shares of Transocean by 19.0% in the second quarter. Dimensional Fund Advisors LP now owns 36,725,995 shares of the offshore drilling services provider’s stock valued at $196,484,000 after acquiring an additional 5,856,414 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Transocean in the 2nd quarter worth approximately $16,179,000. American Century Companies Inc. grew its position in Transocean by 24.3% during the 2nd quarter. American Century Companies Inc. now owns 13,437,572 shares of the offshore drilling services provider’s stock worth $71,891,000 after acquiring an additional 2,623,615 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Transocean by 18.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 16,858,264 shares of the offshore drilling services provider’s stock valued at $90,192,000 after purchasing an additional 2,606,017 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Transocean Stock Performance

NYSE:RIG opened at $3.74 on Friday. The firm has a market capitalization of $3.27 billion, a PE ratio of -4.98 and a beta of 2.75. Transocean has a 1 year low of $3.70 and a 1 year high of $6.88. The company has a current ratio of 1.64, a quick ratio of 1.34 and a debt-to-equity ratio of 0.64. The firm’s fifty day simple moving average is $4.23 and its 200 day simple moving average is $4.74.

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.