Transocean (NYSE:RIG) Shares Down 1.3% – Time to Sell?

Transocean Ltd. (NYSE:RIG) traded down 1.3% during trading on Friday . The stock traded as low as $3.90 and last traded at $3.90. 5,091,565 shares were traded during trading, a decline of 68% from the average session volume of 16,086,239 shares. The stock had previously closed at $3.95.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on RIG shares. Benchmark reiterated a “hold” rating on shares of Transocean in a report on Tuesday, December 3rd. Citigroup lowered Transocean from a “buy” rating to a “neutral” rating in a report on Thursday, September 12th. JPMorgan Chase & Co. upgraded shares of Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 target price for the company in a report on Friday, December 6th. Susquehanna cut their price objective on Transocean from $7.00 to $6.50 and set a “positive” rating for the company in a research report on Friday, November 1st. Finally, Barclays upgraded Transocean from an “equal weight” rating to an “overweight” rating and set a $4.50 target price on the stock in a report on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $6.25.

Transocean Stock Performance

The firm has a market cap of $3.46 billion, a PE ratio of -5.27 and a beta of 2.75. The stock has a 50-day moving average price of $4.08 and a 200 day moving average price of $4.58. 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 other news, EVP Roderick James Mackenzie sold 20,000 shares of the business’s stock in a transaction dated 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 approximately $1,333,576.53. The trade was a 6.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 13.16% of the stock is owned by company insiders.

Institutional Investors Weigh In On Transocean

Several large investors have recently made changes to their positions in RIG. Franklin Resources Inc. purchased a new stake in Transocean during the 3rd quarter worth $157,000. Geode Capital Management LLC boosted its position in shares of Transocean by 4.1% in the third quarter. Geode Capital Management LLC now owns 17,245,298 shares of the offshore drilling services provider’s stock worth $73,307,000 after buying an additional 680,242 shares during the period. Abel Hall LLC acquired a new stake in shares of Transocean in the third quarter valued at about $65,000. Barclays PLC raised its holdings in shares of Transocean by 60.1% during the 3rd quarter. Barclays PLC now owns 1,623,924 shares of the offshore drilling services provider’s stock valued at $6,902,000 after buying an additional 609,681 shares during the period. Finally, Orion Portfolio Solutions LLC acquired a new position in Transocean during the 3rd quarter worth approximately $46,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

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.