Transocean (NYSE:RIG) Trading Down 4.4% – Time to Sell?

Transocean Ltd. (NYSE:RIG) shares fell 4.4% on Thursday . The stock traded as low as $4.08 and last traded at $4.09. 4,479,950 shares were traded during trading, a decline of 82% from the average session volume of 24,468,018 shares. The stock had previously closed at $4.28.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on RIG. Benchmark reaffirmed a “hold” rating on shares of Transocean in a research report on Tuesday, December 3rd. Evercore ISI downgraded Transocean from an “outperform” rating to an “in-line” rating and cut their price target for the stock from $6.00 to $5.00 in a research report on Wednesday. StockNews.com raised Transocean to a “sell” rating in a research report on Tuesday, November 12th. JPMorgan Chase & Co. raised shares of 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. Finally, Morgan Stanley increased their target price 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. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $5.94.

Transocean Price Performance

The stock has a market capitalization of $3.55 billion, a PE ratio of -5.41, a price-to-earnings-growth ratio of 0.67 and a beta of 2.73. The stock’s 50 day moving average is $4.03 and its two-hundred day moving average is $4.49. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.34 and a current ratio of 1.64.

Insider Activity at Transocean

In other Transocean news, EVP Roderick James Mackenzie sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $4.29, for a total value of $85,800.00. Following the transaction, 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 SEC, which is available through this hyperlink. 12.54% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of RIG. Pilgrim Global Advisors LLC acquired a new stake in shares of Transocean during the 3rd quarter worth approximately $77,473,000. Dimensional Fund Advisors LP increased its holdings in shares of Transocean by 19.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 36,725,995 shares of the offshore drilling services provider’s stock worth $196,484,000 after buying an additional 5,856,414 shares during the last quarter. Kailix Advisors LLC increased its holdings in shares of Transocean by 59.9% during the 3rd quarter. Kailix Advisors LLC now owns 6,620,451 shares of the offshore drilling services provider’s stock worth $28,137,000 after buying an additional 2,481,059 shares during the last quarter. Point72 Europe London LLP acquired a new stake in shares of Transocean during the 3rd quarter worth approximately $8,935,000. Finally, State Street Corp increased its holdings in shares of Transocean by 11.0% during the 3rd quarter. State Street Corp now owns 19,594,121 shares of the offshore drilling services provider’s stock worth $83,275,000 after buying an additional 1,944,723 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

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.