Transocean (NYSE:RIG) Sets New 12-Month Low – What’s Next?

Transocean Ltd. (NYSE:RIG) hit a new 52-week low during trading on Friday . The company traded as low as $3.85 and last traded at $3.85, with a volume of 4212395 shares changing hands. The stock had previously closed at $3.94.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RIG. DNB Markets upgraded shares of Transocean from a “hold” rating to a “buy” rating in a research report on Tuesday, September 3rd. Citigroup cut shares of Transocean from a “buy” rating to a “neutral” rating in a research report on Thursday, September 12th. StockNews.com upgraded shares of Transocean to a “sell” rating in a research report on Tuesday, November 12th. Morgan Stanley increased their target price on shares of Transocean from $5.00 to $6.00 and gave the company an “equal weight” rating in a research report on Thursday, October 3rd. Finally, Benchmark reiterated a “hold” rating on shares of Transocean in a research report on Tuesday, December 3rd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Transocean currently has an average rating of “Hold” and an average price target of $6.25.

Transocean Stock Down 2.3 %

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’s 50 day simple moving average is $4.27 and its two-hundred day simple moving average is $4.79.

Insiders Place Their Bets

In other Transocean news, EVP Roderick James Mackenzie sold 20,000 shares of the 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 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 filing with the SEC, which is available through the SEC website. 13.16% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Franklin Resources Inc. purchased a new position in shares of Transocean in the third quarter valued at approximately $157,000. Geode Capital Management LLC boosted its stake 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 valued at $73,307,000 after purchasing an additional 680,242 shares during the period. Abel Hall LLC purchased a new position in shares of Transocean in the third quarter valued at approximately $65,000. Barclays PLC boosted its stake in shares of Transocean by 60.1% in the third quarter. Barclays PLC now owns 1,623,924 shares of the offshore drilling services provider’s stock valued at $6,902,000 after purchasing an additional 609,681 shares during the period. Finally, Orion Portfolio Solutions LLC purchased a new position in shares of Transocean in the third quarter valued at approximately $46,000. Hedge funds and other 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.