Brokerages Set Transocean Ltd. (NYSE:RIG) Target Price at $6.63

Shares of Transocean Ltd. (NYSE:RIG) have earned an average recommendation of “Hold” from the nine ratings firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $6.63.

RIG has been the topic of several research reports. Susquehanna lowered 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. StockNews.com upgraded shares of Transocean to a “sell” rating in a report on Tuesday, November 12th. Morgan Stanley lifted their price target on Transocean from $5.00 to $6.00 and gave the company an “equal weight” rating in a research note on Thursday, October 3rd. Barclays lowered their price objective on Transocean from $6.00 to $4.50 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. Finally, Citigroup cut Transocean from a “buy” rating to a “neutral” rating in a research report on Thursday, September 12th.

Transocean Stock Performance

Shares of RIG opened at $4.47 on Tuesday. Transocean has a one year low of $3.85 and a one year high of $6.88. The company has a market cap of $3.91 billion, a PE ratio of -5.96 and a beta of 2.78. The stock has a 50-day moving average of $4.34 and a 200-day moving average of $4.95. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.64 and a quick ratio of 1.34.

Insider Buying and Selling at Transocean

In related news, EVP Roderick James Mackenzie sold 20,000 shares of Transocean stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $4.29, for a total value of $85,800.00. Following the sale, the executive vice president now owns 310,857 shares of the company’s stock, valued at approximately $1,333,576.53. The trade was a 6.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Perestroika acquired 1,500,000 shares of Transocean stock in a transaction on 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 owns 91,074,894 shares of the company’s stock, valued at $376,139,312.22. This trade represents a 1.67 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 13.16% of the company’s stock.

Institutional Trading of Transocean

Several hedge funds have recently made changes to their positions in RIG. Russell Investments Group Ltd. raised its position in shares of Transocean by 76.9% in the first quarter. Russell Investments Group Ltd. now owns 402,839 shares of the offshore drilling services provider’s stock valued at $2,530,000 after purchasing an additional 175,130 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Transocean by 0.6% in the first quarter. Vanguard Group Inc. now owns 68,982,142 shares of the offshore drilling services provider’s stock worth $433,208,000 after acquiring an additional 429,950 shares during the period. CANADA LIFE ASSURANCE Co grew its position in shares of Transocean by 63.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 365,667 shares of the offshore drilling services provider’s stock valued at $2,296,000 after purchasing an additional 141,927 shares in the last quarter. MQS Management LLC raised its stake in shares of Transocean by 53.4% during the 1st quarter. MQS Management LLC now owns 25,739 shares of the offshore drilling services provider’s stock valued at $162,000 after purchasing an additional 8,960 shares during the period. Finally, Capital World Investors raised its stake in shares of Transocean by 18.8% during the 1st quarter. Capital World Investors now owns 46,334,990 shares of the offshore drilling services provider’s stock valued at $290,984,000 after purchasing an additional 7,320,672 shares during the period. 67.73% of the stock is currently owned by institutional investors.

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.