Transocean Ltd. (NYSE:RIG) Given Consensus Recommendation of “Hold” by Analysts

Transocean Ltd. (NYSE:RIG) has been given an average recommendation of “Hold” by the ten research firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $6.17.

Several analysts recently issued reports on the company. Barclays upgraded 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. Benchmark restated a “hold” rating on shares of Transocean in a research note on Tuesday, December 3rd. TD Cowen reduced their price objective on shares of Transocean from $6.50 to $5.50 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. 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 research report on Friday, December 6th. Finally, StockNews.com upgraded shares of Transocean to a “sell” rating in a report on Tuesday, November 12th.

Insiders Place Their Bets

In other news, EVP Roderick James Mackenzie sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was 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 directly owns 310,857 shares of the company’s stock, valued at $1,333,576.53. This trade represents a 6.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 13.16% of the company’s stock.

Institutional Trading of Transocean

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Oppenheimer Asset Management Inc. increased its position in Transocean by 10.9% during the third quarter. Oppenheimer Asset Management Inc. now owns 25,170 shares of the offshore drilling services provider’s stock valued at $107,000 after acquiring an additional 2,469 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake 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 purchasing an additional 2,693 shares during the period. Kovitz Investment Group Partners LLC grew its holdings in 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 valued at $62,000 after purchasing an additional 4,027 shares during the last quarter. CWM LLC raised its position in Transocean by 36.1% in the 3rd quarter. CWM LLC now owns 17,065 shares of the offshore drilling services provider’s stock worth $73,000 after purchasing an additional 4,529 shares during the period. Finally, nVerses Capital LLC lifted its stake in Transocean by 9.3% in the third 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 last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Transocean Trading Up 1.3 %

Shares of Transocean stock opened at $4.04 on Wednesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.34 and a current ratio of 1.64. The company has a fifty day moving average of $4.07 and a 200 day moving average of $4.52. The company has a market capitalization of $3.54 billion, a P/E ratio of -5.39 and a beta of 2.73. Transocean has a fifty-two week low of $3.40 and a fifty-two week 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.