Transocean (NYSE:RIG) Shares Up 3.3% – Should You Buy?

Shares of Transocean Ltd. (NYSE:RIG) rose 3.3% during trading on Tuesday . The stock traded as high as $3.79 and last traded at $3.78. Approximately 6,645,973 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 18,740,057 shares. The stock had previously closed at $3.66.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Morgan Stanley increased their price objective on Transocean from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 3rd. Susquehanna lowered 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. Benchmark reissued a “hold” rating on shares of Transocean in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. upgraded shares of Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 price objective for the company in a research report on Friday, December 6th. Finally, Citigroup lowered shares of Transocean from a “buy” rating to a “neutral” rating in a research report on Thursday, September 12th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $6.25.

Transocean Trading Up 2.5 %

The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of -5.00 and a beta of 2.75. 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 business’s 50 day moving average price is $4.08 and its two-hundred day moving average price is $4.58.

Insider Activity

In other Transocean news, EVP Roderick James Mackenzie sold 20,000 shares of the 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 completion of 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 13.16% of the company’s stock.

Institutional Investors Weigh In On Transocean

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. grew its position in shares of Transocean by 138.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,633 shares of the offshore drilling services provider’s stock valued at $25,000 after purchasing an additional 2,693 shares in the last quarter. Orion Portfolio Solutions LLC purchased a new stake in Transocean in the third quarter worth approximately $46,000. Atria Investments Inc purchased a new position in shares of Transocean during the third quarter worth approximately $51,000. Abel Hall LLC bought a new position in shares of Transocean during the 3rd quarter valued at $65,000. Finally, Kovitz Investment Group Partners LLC raised its position 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 purchasing an additional 4,027 shares during the period. 67.73% of the stock is owned by institutional investors.

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.