Transocean Ltd. (NYSE:RIG) Receives Average Recommendation of “Hold” from Analysts

Transocean Ltd. (NYSE:RIG) has been given an average recommendation of “Hold” by the nine brokerages that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $6.25.

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. raised Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 price target for the company in a research note on Friday, December 6th. Susquehanna cut their price objective on shares of Transocean from $7.00 to $6.50 and set a “positive” rating on the stock in a research report on Friday, November 1st. Citigroup downgraded shares of Transocean from a “buy” rating to a “neutral” rating in a research report on Thursday, September 12th. Benchmark restated a “hold” rating on shares of Transocean in a report on Tuesday, December 3rd. Finally, Barclays upgraded shares of Transocean from an “equal weight” rating to an “overweight” rating and set a $4.50 price objective for the company in a report on Wednesday.

Transocean Trading Down 1.4 %

NYSE RIG opened at $3.62 on Friday. The company has a current ratio of 1.64, a quick ratio of 1.34 and a debt-to-equity ratio of 0.64. Transocean has a 1-year low of $3.54 and a 1-year high of $6.88. The firm’s fifty day simple moving average is $4.21 and its 200-day simple moving average is $4.71. The company has a market capitalization of $3.17 billion, a PE ratio of -4.83 and a beta of 2.75.

Insider Activity

In related news, EVP Roderick James Mackenzie sold 20,000 shares of the company’s stock in a transaction on 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 directly owns 310,857 shares in the company, valued at $1,333,576.53. This represents a 6.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 13.16% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. grew its holdings 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 in the last quarter. Nisa Investment Advisors LLC acquired a new stake in Transocean during the second quarter worth $30,000. Orion Portfolio Solutions LLC bought a new stake in Transocean in the 3rd quarter valued at $46,000. Atria Investments Inc acquired a new position in shares of Transocean in the 3rd quarter valued at $51,000. Finally, Kovitz Investment Group Partners LLC boosted its position in shares of 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 acquiring an additional 4,027 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

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.