Transocean (NYSE:RIG) Stock Price Up 0.8% – What’s Next?

Transocean Ltd. (NYSE:RIG)’s share price traded up 0.8% during trading on Monday . The company traded as high as $4.05 and last traded at $3.99. 5,808,481 shares traded hands during trading, a decline of 66% from the average session volume of 17,223,396 shares. The stock had previously closed at $3.96.

Analyst Upgrades and Downgrades

RIG has been the subject of several research analyst reports. Barclays raised Transocean from an “equal weight” rating to an “overweight” rating and set a $4.50 target price for the company in a research report on Wednesday, December 18th. Citigroup lowered shares of Transocean from a “buy” rating to a “neutral” rating in a research note on Thursday, September 12th. StockNews.com raised Transocean to a “sell” rating in a report on Tuesday, November 12th. Morgan Stanley upped their price target on Transocean from $5.00 to $6.00 and gave the company an “equal weight” rating in a research report on Thursday, October 3rd. Finally, Benchmark reiterated a “hold” rating on shares of Transocean in a research report on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Transocean presently has an average rating of “Hold” and an average target price of $6.25.

Transocean Trading Up 0.8 %

The firm’s 50 day moving average is $4.08 and its 200 day moving average is $4.56. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.64 and a quick ratio of 1.34. The company has a market cap of $3.49 billion, a PE ratio of -5.32 and a beta of 2.73.

Insider Activity

In other Transocean 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 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 $1,333,576.53. The trade was a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 13.16% of the company’s stock.

Institutional Trading of Transocean

A number of hedge funds have recently made changes to their positions in the stock. Pilgrim Global Advisors LLC bought a new stake in Transocean during the third quarter worth about $77,473,000. Dimensional Fund Advisors LP lifted its position in Transocean by 19.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 36,725,995 shares of the offshore drilling services provider’s stock worth $196,484,000 after buying an additional 5,856,414 shares during the last quarter. American Century Companies Inc. boosted its stake in Transocean by 24.3% in the second quarter. American Century Companies Inc. now owns 13,437,572 shares of the offshore drilling services provider’s stock worth $71,891,000 after buying an additional 2,623,615 shares in the last quarter. Kailix Advisors LLC grew its position in Transocean by 59.9% during the third quarter. Kailix Advisors LLC now owns 6,620,451 shares of the offshore drilling services provider’s stock valued at $28,137,000 after acquiring an additional 2,481,059 shares during the last quarter. Finally, Point72 Europe London LLP purchased a new position in shares of Transocean during the third quarter worth approximately $8,935,000. 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.