Transocean (NYSE:RIG) Trading Up 1.5% – Should You Buy?

Transocean Ltd. (NYSE:RIG)’s share price rose 1.5% on Friday . The company traded as high as $4.19 and last traded at $4.05. Approximately 8,083,603 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 23,414,295 shares. The stock had previously closed at $3.99.

Analyst Ratings Changes

Several research firms recently commented on RIG. StockNews.com upgraded shares of Transocean to a “sell” rating in a research report on Tuesday, November 12th. TD Cowen lowered their target price on shares of Transocean from $6.50 to $5.50 and set a “hold” rating for the company in a report on Wednesday. Benchmark reiterated a “hold” rating on shares of Transocean in a research note on Tuesday, December 3rd. 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 report on Friday, December 6th. Finally, Morgan Stanley upped their target price on Transocean from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Transocean has an average rating of “Hold” and a consensus target price of $6.17.

Transocean Stock Up 1.3 %

The company’s 50-day simple moving average is $4.07 and its two-hundred day simple moving average is $4.52. The firm has a market cap of $3.54 billion, a PE ratio of -5.39 and a beta of 2.73. 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

In related news, EVP Roderick James Mackenzie sold 20,000 shares of the business’s 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 sale, the executive vice president now owns 310,857 shares of the company’s stock, valued at $1,333,576.53. The trade was a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 13.16% of the company’s stock.

Institutional Trading of Transocean

A number of hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its holdings in 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 worth $73,307,000 after acquiring an additional 680,242 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Transocean by 7.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,606,320 shares of the offshore drilling services provider’s stock valued at $49,327,000 after purchasing an additional 826,229 shares during the last quarter. Barclays PLC increased its stake in Transocean by 60.1% during the 3rd 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 in the last quarter. International Assets Investment Management LLC raised its holdings in Transocean by 335.3% in the third quarter. International Assets Investment Management LLC now owns 196,699 shares of the offshore drilling services provider’s stock worth $836,000 after buying an additional 151,507 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its stake in shares of Transocean by 125.9% in the third quarter. MetLife Investment Management LLC now owns 415,031 shares of the offshore drilling services provider’s stock worth $1,764,000 after buying an additional 231,334 shares in the last quarter. 67.73% of the stock is owned by 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.