Transocean Ltd. (NYSE:RIG) Receives $6.63 Average Price Target from Brokerages

Shares of Transocean Ltd. (NYSE:RIG) have been given an average recommendation of “Hold” by the nine research firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and three 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 $6.63.

A number of equities analysts have weighed in on RIG shares. Susquehanna decreased their target price on Transocean from $7.00 to $6.50 and set a “positive” rating on the stock in a research note on Friday, November 1st. Benchmark downgraded shares of Transocean from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th. Morgan Stanley boosted their price target on shares of Transocean from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 3rd. Barclays lowered their price objective on shares of Transocean from $6.00 to $4.50 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. Finally, DNB Markets upgraded shares of Transocean from a “hold” rating to a “buy” rating in a research report on Tuesday, September 3rd.

Transocean Trading Up 3.0 %

Transocean stock opened at $4.47 on Tuesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.34 and a current ratio of 1.64. Transocean has a fifty-two week low of $3.85 and a fifty-two week high of $6.88. The stock has a market cap of $3.91 billion, a P/E ratio of -5.96 and a beta of 2.78. The firm’s fifty day moving average price is $4.34 and its 200-day moving average price is $4.95.

Insiders Place Their Bets

In other news, Director Perestroika purchased 1,500,000 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was acquired at an average price of $4.13 per share, with a total value of $6,195,000.00. Following the transaction, the director now directly owns 91,074,894 shares of the company’s stock, valued at approximately $376,139,312.22. This represents a 1.67 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Roderick James Mackenzie sold 20,000 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now owns 310,857 shares in the company, valued at $1,333,576.53. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. 13.16% of the stock is currently owned by insiders.

Institutional Trading of Transocean

Large investors have recently modified their holdings of the business. Oppenheimer Asset Management Inc. raised its position in shares of 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 acquiring an additional 2,469 shares in the last quarter. Murphy Pohlad Asset Management LLC raised its holdings in Transocean by 2.6% in the second quarter. Murphy Pohlad Asset Management LLC now owns 98,650 shares of the offshore drilling services provider’s stock worth $528,000 after purchasing an additional 2,500 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Transocean by 138.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,633 shares of the offshore drilling services provider’s stock valued at $25,000 after buying an additional 2,693 shares during the period. Muhlenkamp & Co. Inc. boosted its holdings in shares of Transocean by 0.4% during the 2nd quarter. Muhlenkamp & Co. Inc. now owns 1,014,269 shares of the offshore drilling services provider’s stock valued at $5,426,000 after buying an additional 3,771 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC grew its position in shares of Transocean by 34.0% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 15,877 shares of the offshore drilling services provider’s stock worth $62,000 after buying an additional 4,027 shares during the period. 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.