Transocean (NYSE:RIG) Raised to Sell at StockNews.com

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

Several other brokerages have also weighed in on RIG. Benchmark reissued a “buy” rating and issued a $8.00 price objective on shares of Transocean in a report on Friday, August 2nd. DNB Markets upgraded Transocean from a “hold” rating to a “buy” rating in a research report on Tuesday, September 3rd. Citigroup downgraded Transocean from a “buy” rating to a “neutral” rating in a research report on Thursday, September 12th. Finally, Morgan Stanley boosted 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. 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $6.88.

Transocean Stock Performance

NYSE:RIG opened at $4.30 on Thursday. The company has a market capitalization of $3.76 billion, a PE ratio of -9.54 and a beta of 2.79. Transocean has a fifty-two week low of $3.85 and a fifty-two week high of $7.96. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.08 and a current ratio of 1.36. The company has a 50 day simple moving average of $4.62 and a two-hundred day simple moving average of $5.31.

Transocean (NYSE:RIG) last posted its quarterly 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). Transocean had a negative net margin of 11.34% and a negative return on equity of 4.76%. The business had revenue of $861.00 million during the quarter, compared to analyst estimates of $862.25 million. During the same period in the previous year, the business posted ($0.15) EPS. The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. Research analysts anticipate that Transocean will post -0.18 earnings per share for the current year.

Insider Transactions at Transocean

In other Transocean news, Director Perestroika purchased 1,500,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were purchased at an average cost of $4.13 per share, with a total value of $6,195,000.00. Following the completion of the acquisition, the director now directly owns 91,074,894 shares in the company, valued at $376,139,312.22. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Transocean news, Director Perestroika purchased 1,500,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were purchased at an average cost of $4.13 per share, with a total value of $6,195,000.00. Following the completion of the acquisition, the director now directly owns 91,074,894 shares in the company, valued at $376,139,312.22. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director (Cyprus) Ltd Perestroika purchased 2,000,000 shares of the stock in a transaction dated Friday, August 2nd. The shares were acquired at an average cost of $5.23 per share, for a total transaction of $10,460,000.00. Following the completion of the acquisition, the director now owns 89,574,894 shares of the company’s stock, valued at approximately $468,476,695.62. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 13.16% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. raised its stake 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 worth $25,000 after buying an additional 2,693 shares during the period. Nisa Investment Advisors LLC bought a new position in shares of Transocean in the second quarter worth about $30,000. Fiducient Advisors LLC bought a new position in shares of Transocean in the first quarter worth about $63,000. SG Americas Securities LLC bought a new position in shares of Transocean in the second quarter worth about $64,000. Finally, Fermata Advisors LLC bought a new position in shares of Transocean in the first quarter worth about $75,000. Institutional investors own 67.73% of the company’s stock.

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.