Transocean Ltd. (NYSE:RIG) Receives Average Rating of “Hold” from Brokerages

Shares of Transocean Ltd. (NYSE:RIG) have earned an average rating of “Hold” from the nine analysts that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $6.25.

A number of equities analysts recently commented on the stock. Citigroup lowered shares of Transocean from a “buy” rating to a “neutral” rating in a research note on Thursday, September 12th. Benchmark reissued a “hold” rating on shares of Transocean in a research note on Tuesday, December 3rd. Susquehanna lowered their target price on Transocean from $7.00 to $6.50 and set a “positive” rating on the stock in a research note on Friday, November 1st. JPMorgan Chase & Co. raised shares of Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 price target for the company in a research report on Friday, December 6th. Finally, Morgan Stanley boosted their price objective on shares of Transocean from $5.00 to $6.00 and gave the company an “equal weight” rating in a research report on Thursday, October 3rd.

Insiders Place Their Bets

In related news, EVP Roderick James Mackenzie sold 20,000 shares of Transocean stock in a transaction 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 completion of 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 Securities & Exchange Commission, which is accessible through this link. Insiders own 12.54% of the company’s stock.

Hedge Funds Weigh In On Transocean

Several institutional investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Transocean by 138.8% during the 2nd 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. Orion Portfolio Solutions LLC bought a new stake in Transocean during the third quarter valued at about $46,000. Atria Investments Inc acquired a new stake in shares of Transocean in the third quarter valued at about $51,000. Abel Hall LLC bought a new position in shares of Transocean in the third quarter worth about $65,000. Finally, Kovitz Investment Group Partners LLC lifted its position in shares of Transocean by 34.0% during 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 last quarter. 67.73% of the stock is currently owned by institutional investors.

Transocean Price Performance

RIG stock opened at $4.15 on Wednesday. The firm has a 50-day moving average of $4.08 and a two-hundred day moving average of $4.54. The firm has a market capitalization of $3.63 billion, a PE ratio of -5.53 and a beta of 2.73. The company has a current ratio of 1.64, a quick ratio of 1.34 and a debt-to-equity ratio of 0.64. Transocean has a one year low of $3.40 and a one year high of $6.88.

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.