Transocean Ltd. (NYSE:RIG) Given Average Recommendation of “Hold” by Brokerages

Transocean Ltd. (NYSE:RIG) has received a consensus recommendation of “Hold” from the nine research firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $6.25.

A number of equities research analysts have recently weighed in on RIG shares. JPMorgan Chase & Co. raised Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 price target for the company in a research note on Friday, December 6th. Barclays upgraded shares of Transocean from an “equal weight” rating to an “overweight” rating and set a $4.50 target price for the company in a research note on Wednesday. Benchmark restated a “hold” rating on shares of Transocean in a research note on Tuesday, December 3rd. StockNews.com upgraded shares of Transocean to a “sell” rating in a report on Tuesday, November 12th. Finally, Morgan Stanley upped their price objective on shares of Transocean from $5.00 to $6.00 and gave the stock an “equal weight” rating in a report on Thursday, October 3rd.

Transocean Trading Down 0.6 %

NYSE RIG opened at $3.53 on Friday. The company has a market capitalization of $3.09 billion, a PE ratio of -4.71 and a beta of 2.75. Transocean has a 1-year low of $3.48 and a 1-year high of $6.88. The company has a current ratio of 1.64, a quick ratio of 1.34 and a debt-to-equity ratio of 0.64. The firm’s fifty day simple moving average is $4.19 and its 200-day simple moving average is $4.71.

Insider Buying and Selling

In related news, EVP Roderick James Mackenzie sold 20,000 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 310,857 shares in the company, valued at $1,333,576.53. This represents a 6.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 13.16% of the company’s stock.

Hedge Funds Weigh In On Transocean

Institutional investors and hedge funds have recently bought and sold shares of the stock. Pilgrim Global Advisors LLC bought a new position in shares of Transocean during the 3rd quarter worth about $77,473,000. Dimensional Fund Advisors LP lifted its position in shares of 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 acquiring an additional 5,856,414 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Transocean during the 2nd quarter worth approximately $16,179,000. American Century Companies Inc. increased its position in shares of Transocean by 24.3% during the second quarter. American Century Companies Inc. now owns 13,437,572 shares of the offshore drilling services provider’s stock valued at $71,891,000 after purchasing an additional 2,623,615 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Transocean by 18.3% in the second quarter. Bank of New York Mellon Corp now owns 16,858,264 shares of the offshore drilling services provider’s stock valued at $90,192,000 after purchasing an additional 2,606,017 shares in the last quarter. 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.