Transocean (NYSE:RIG) Shares Down 1.3% – Time to Sell?

Transocean Ltd. (NYSE:RIG)’s share price was down 1.3% on Friday . The stock traded as low as $3.90 and last traded at $3.90. Approximately 5,091,565 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 16,086,239 shares. The stock had previously closed at $3.95.

Wall Street Analyst Weigh In

RIG has been the topic of a number of recent analyst reports. Barclays upgraded Transocean from an “equal weight” rating to an “overweight” rating and set a $4.50 price target on the stock in a research report on Wednesday, December 18th. Morgan Stanley lifted their price target 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. Benchmark restated a “hold” rating on shares of Transocean in a research report on Tuesday, December 3rd. Susquehanna decreased their price objective on shares of Transocean from $7.00 to $6.50 and set a “positive” rating on the stock in a 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 target price for the company in a research note on Friday, December 6th. 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $6.25.

Transocean Stock Up 0.3 %

The stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of -5.28 and a beta of 2.73. The company has a quick ratio of 1.34, a current ratio of 1.64 and a debt-to-equity ratio of 0.64. The business’s 50-day moving average is $4.08 and its two-hundred day moving average is $4.56.

Insiders Place Their Bets

In other news, EVP Roderick James Mackenzie sold 20,000 shares of Transocean stock in a transaction on 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 in the company, valued at $1,333,576.53. The trade was a 6.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate 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 company. Northwestern Mutual Wealth Management Co. grew its stake in shares of Transocean by 138.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,633 shares of the offshore drilling services provider’s stock valued at $25,000 after buying an additional 2,693 shares during the period. Orion Portfolio Solutions LLC purchased a new position in Transocean in the third quarter worth approximately $46,000. Atria Investments Inc acquired a new stake in Transocean during the third quarter worth $51,000. Abel Hall LLC purchased a new stake in Transocean in the third quarter valued at $65,000. Finally, Kovitz Investment Group Partners LLC lifted its stake in shares of 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 valued at $62,000 after purchasing an additional 4,027 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

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.