Transocean (NYSE:RIG) Trading 0.7% Higher – What’s Next?

Transocean Ltd. (NYSE:RIG) shot up 0.7% during mid-day trading on Monday . The company traded as high as $4.13 and last traded at $4.06. 5,106,515 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 24,257,090 shares. The stock had previously closed at $4.03.

Analysts Set New Price Targets

RIG has been the subject of a number of analyst reports. Barclays raised Transocean from an “equal weight” rating to an “overweight” rating and set a $4.50 price target for the company in a research report on Wednesday, December 18th. Susquehanna decreased their price target on shares of Transocean from $7.00 to $6.50 and set a “positive” rating for the company in a report on Friday, November 1st. Morgan Stanley lifted their price objective on Transocean from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 3rd. StockNews.com upgraded Transocean to a “sell” rating in a research note on Tuesday, November 12th. Finally, TD Cowen dropped their price target on Transocean from $6.50 to $5.50 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Transocean currently has an average rating of “Hold” and a consensus target price of $5.94.

Transocean Stock Up 5.2 %

The stock has a market capitalization of $3.75 billion, a price-to-earnings ratio of -5.71 and a beta of 2.73. The firm has a 50 day simple moving average of $4.06 and a 200-day simple moving average of $4.50. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.64 and a quick ratio of 1.34.

Insiders Place Their Bets

In other Transocean news, EVP Roderick James Mackenzie sold 20,000 shares of the stock in a transaction on Monday, November 18th. The stock was 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 in the company, valued at approximately $1,333,576.53. This trade represents a 6.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 13.16% of the company’s stock.

Institutional Trading of Transocean

Institutional investors and hedge funds have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. raised its position in shares of Transocean by 138.8% during the second 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 during the period. Orion Portfolio Solutions LLC acquired a new stake in Transocean in the 3rd quarter valued at approximately $46,000. Atria Investments Inc acquired a new position in Transocean during the 3rd quarter worth approximately $51,000. Pallas Capital Advisors LLC raised its holdings in shares of Transocean by 25.6% in the fourth quarter. Pallas Capital Advisors LLC now owns 15,332 shares of the offshore drilling services provider’s stock valued at $57,000 after purchasing an additional 3,127 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC lifted its position in shares of Transocean by 34.0% in the third quarter. Kovitz Investment Group Partners LLC now owns 15,877 shares of the offshore drilling services provider’s stock worth $62,000 after purchasing an additional 4,027 shares in the last quarter. Institutional investors 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.