Transocean (NYSE:RIG) Trading 1.7% Higher – Time to Buy?

Transocean Ltd. (NYSE:RIG) shares rose 1.7% during trading on Tuesday . The stock traded as high as $3.55 and last traded at $3.53. Approximately 5,469,973 shares changed hands during trading, a decline of 71% from the average daily volume of 18,692,535 shares. The stock had previously closed at $3.47.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on RIG shares. Citigroup downgraded Transocean from a “buy” rating to a “neutral” rating in a report on Thursday, September 12th. DNB Markets upgraded shares of Transocean from a “hold” rating to a “buy” rating in a research note on Tuesday, September 3rd. Morgan Stanley raised their price objective on shares of Transocean from $5.00 to $6.00 and gave the company an “equal weight” rating in a research note on Thursday, October 3rd. StockNews.com raised shares of Transocean to a “sell” rating in a research note on Tuesday, November 12th. Finally, Susquehanna decreased their price target on shares of Transocean from $7.00 to $6.50 and set a “positive” rating for the company in a research report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $6.25.

Transocean Price Performance

The stock’s 50-day moving average is $4.14 and its 200 day moving average is $4.65. 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 stock has a market capitalization of $3.09 billion, a PE ratio of -4.71 and a beta of 2.75.

Insider Activity

In related news, EVP Roderick James Mackenzie sold 20,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $4.29, for a total transaction of $85,800.00. Following the transaction, the executive vice president now 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 transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 12.54% of the company’s stock.

Institutional Trading of Transocean

A number of hedge funds have recently added to or reduced their stakes in RIG. Franklin Resources Inc. purchased a new stake in shares of Transocean during the third quarter worth approximately $157,000. Geode Capital Management LLC boosted its stake in shares of Transocean by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 17,245,298 shares of the offshore drilling services provider’s stock worth $73,307,000 after acquiring an additional 680,242 shares in the last quarter. Abel Hall LLC acquired a new stake in shares of Transocean in the 3rd quarter worth approximately $65,000. Barclays PLC increased its stake in Transocean by 60.1% in the 3rd quarter. Barclays PLC now owns 1,623,924 shares of the offshore drilling services provider’s stock valued at $6,902,000 after purchasing an additional 609,681 shares in the last quarter. Finally, Orion Portfolio Solutions LLC acquired a new position in Transocean during the third quarter worth $46,000. 67.73% of the stock is owned by institutional investors and hedge funds.

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.