Transocean (NYSE:RIG) Trading Up 2.3% – What’s Next?

Shares of Transocean Ltd. (NYSE:RIG) were up 2.3% during mid-day trading on Tuesday . The company traded as high as $4.10 and last traded at $4.07. Approximately 7,120,853 shares traded hands during trading, a decline of 61% from the average daily volume of 18,432,080 shares. The stock had previously closed at $3.98.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on RIG shares. Morgan Stanley lifted their target price on Transocean from $5.00 to $6.00 and gave the company an “equal weight” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. raised shares of Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 price target on the stock in a report on Friday, December 6th. Benchmark restated a “hold” rating on shares of Transocean in a research report on Tuesday, December 3rd. Susquehanna decreased their price target on Transocean from $7.00 to $6.50 and set a “positive” rating on the stock in a report on Friday, November 1st. Finally, Barclays upgraded Transocean from an “equal weight” rating to an “overweight” rating and set a $4.50 price objective for the company in a research 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 given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $6.25.

Transocean Trading Up 3.8 %

The company has a quick ratio of 1.34, a current ratio of 1.64 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $3.62 billion, a PE ratio of -5.51 and a beta of 2.73. The stock’s 50 day moving average is $4.08 and its two-hundred day moving average is $4.55.

Insider Activity

In related news, EVP Roderick James Mackenzie sold 20,000 shares of the firm’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 sale, the executive vice president now owns 310,857 shares of the company’s stock, valued at $1,333,576.53. This trade represents a 6.04 % decrease in their ownership of the stock. 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.

Institutional Trading of Transocean

A number of institutional investors have recently modified their holdings of the company. Oppenheimer Asset Management Inc. increased its holdings in Transocean by 10.9% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 25,170 shares of the offshore drilling services provider’s stock worth $107,000 after buying an additional 2,469 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of Transocean by 138.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,633 shares of the offshore drilling services provider’s stock worth $25,000 after acquiring an additional 2,693 shares during the period. Kovitz Investment Group Partners LLC raised its holdings in shares of Transocean by 34.0% during the third 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. CWM LLC boosted its holdings in Transocean by 36.1% in the third quarter. CWM LLC now owns 17,065 shares of the offshore drilling services provider’s stock valued at $73,000 after purchasing an additional 4,529 shares during the last quarter. Finally, nVerses Capital LLC grew its position in Transocean by 9.3% during the 3rd quarter. nVerses Capital LLC now owns 60,100 shares of the offshore drilling services provider’s stock worth $255,000 after purchasing an additional 5,100 shares during the period. 67.73% of the stock is currently 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.