Transocean (NYSE:RIG) Shares Up 2.5% – What’s Next?

Shares of Transocean Ltd. (NYSE:RIG) traded up 2.5% during trading on Wednesday . The stock traded as high as $3.82 and last traded at $3.75. 22,853,918 shares changed hands during trading, an increase of 21% from the average session volume of 18,811,123 shares. The stock had previously closed at $3.66.

Analyst Upgrades and Downgrades

RIG has been the subject of several recent analyst reports. Citigroup cut shares of Transocean from a “buy” rating to a “neutral” rating in a report on Thursday, September 12th. Morgan Stanley boosted 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. JPMorgan Chase & Co. upgraded Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 target price on the stock in a research note on Friday, December 6th. Benchmark reaffirmed a “hold” rating on shares of Transocean in a research report on Tuesday, December 3rd. Finally, Susquehanna reduced their price target on shares of Transocean from $7.00 to $6.50 and set a “positive” rating for the company in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $6.25.

Transocean Stock Up 5.3 %

The company’s 50-day moving average price is $4.08 and its 200 day moving average price is $4.58. 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 stock has a market cap of $3.46 billion, a PE ratio of -5.27 and a beta of 2.75.

Insider Activity at Transocean

In related news, EVP Roderick James Mackenzie sold 20,000 shares of Transocean stock in a transaction 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 transaction, the executive vice president now directly owns 310,857 shares in the company, valued at approximately $1,333,576.53. The trade was a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 13.16% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in RIG. Primecap Management Co. CA grew its stake in shares of Transocean by 0.4% during the 3rd quarter. Primecap Management Co. CA now owns 56,342,169 shares of the offshore drilling services provider’s stock valued at $239,454,000 after acquiring an additional 222,680 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Transocean by 19.0% in the second quarter. Dimensional Fund Advisors LP now owns 36,725,995 shares of the offshore drilling services provider’s stock worth $196,484,000 after purchasing an additional 5,856,414 shares during the period. State Street Corp increased its stake in shares of Transocean by 11.0% in the third quarter. State Street Corp now owns 19,594,121 shares of the offshore drilling services provider’s stock worth $83,275,000 after purchasing an additional 1,944,723 shares in the last quarter. Pilgrim Global Advisors LLC bought a new stake in shares of Transocean during the 3rd quarter valued at $77,473,000. Finally, Geode Capital Management LLC lifted its stake in shares of Transocean by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 17,245,298 shares of the offshore drilling services provider’s stock valued at $73,307,000 after buying an additional 680,242 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.