Transocean (NYSE:RIG) Trading 1.1% Higher – Still a Buy?

Shares of Transocean Ltd. (NYSE:RIG) rose 1.1% during trading on Thursday . The company traded as high as $3.59 and last traded at $3.57. Approximately 3,224,011 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 18,665,826 shares. The stock had previously closed at $3.53.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. StockNews.com upgraded Transocean to a “sell” rating in a report on Tuesday, November 12th. DNB Markets raised Transocean from a “hold” rating to a “buy” rating in a report on Tuesday, September 3rd. JPMorgan Chase & Co. upgraded shares of Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 price objective on the stock in a report on Friday, December 6th. Morgan Stanley raised 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. Finally, Susquehanna decreased their price target on shares of Transocean from $7.00 to $6.50 and set a “positive” rating on the stock in a research note on Friday, November 1st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Transocean currently has a consensus rating of “Hold” and an average price target of $6.25.

Transocean Price Performance

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 has a market cap of $3.09 billion, a price-to-earnings ratio of -4.71 and a beta of 2.75. The business has a fifty day moving average price of $4.14 and a 200 day moving average price of $4.65.

Insiders Place Their Bets

In other news, EVP Roderick James Mackenzie sold 20,000 shares of Transocean stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $4.29, for a total transaction of $85,800.00. Following the sale, the executive vice president now directly owns 310,857 shares of the company’s stock, valued at approximately $1,333,576.53. This trade represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 12.54% of the company’s stock.

Institutional Investors Weigh In On Transocean

Several hedge funds have recently added to or reduced their stakes in RIG. Franklin Resources Inc. bought a new position in shares of Transocean during the third quarter worth about $157,000. Geode Capital Management LLC raised its stake in Transocean by 4.1% during the third quarter. Geode Capital Management LLC now owns 17,245,298 shares of the offshore drilling services provider’s stock worth $73,307,000 after buying an additional 680,242 shares during the last quarter. Abel Hall LLC acquired a new position in Transocean in the third quarter valued at $65,000. Barclays PLC boosted its position in Transocean by 60.1% during 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 acquiring an additional 609,681 shares during the last quarter. Finally, Orion Portfolio Solutions LLC acquired a new stake in Transocean during the 3rd quarter worth about $46,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

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.