Transocean (NYSE:RIG) Rating Increased to Sell at StockNews.com

StockNews.com upgraded shares of Transocean (NYSE:RIG) to a sell rating in a report issued on Tuesday morning.

Other equities analysts have also issued reports about the stock. Citigroup lowered shares of Transocean from a “buy” rating to a “neutral” rating in a research report on Thursday, September 12th. DNB Markets upgraded shares of Transocean from a “hold” rating to a “buy” rating in a research report on Tuesday, September 3rd. Benchmark lowered Transocean from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th. Susquehanna decreased their target price on Transocean from $7.00 to $6.50 and set a “positive” rating on the stock in a research note on Friday, November 1st. Finally, Morgan Stanley lifted their price target on Transocean from $5.00 to $6.00 and gave the company an “equal weight” rating in a research report on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $6.63.

Transocean Stock Performance

Shares of RIG opened at $4.29 on Tuesday. Transocean has a 52-week low of $3.85 and a 52-week high of $6.88. The stock’s 50-day simple moving average is $4.30 and its 200 day simple moving average is $5.01. 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 stock has a market capitalization of $3.75 billion, a price-to-earnings ratio of -5.71 and a beta of 2.78.

Insider Activity at Transocean

In other Transocean news, Director Perestroika purchased 1,500,000 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was acquired at an average cost of $4.13 per share, for a total transaction of $6,195,000.00. Following the completion of the transaction, the director now directly owns 91,074,894 shares in the company, valued at approximately $376,139,312.22. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 12.54% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Transocean by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 68,982,142 shares of the offshore drilling services provider’s stock worth $433,208,000 after acquiring an additional 429,950 shares during the last quarter. Primecap Management Co. CA increased its holdings in Transocean by 0.4% during the 3rd quarter. Primecap Management Co. CA now owns 56,342,169 shares of the offshore drilling services provider’s stock valued at $239,454,000 after purchasing an additional 222,680 shares during the period. Capital World Investors raised its position in Transocean by 18.8% during the 1st quarter. Capital World Investors now owns 46,334,990 shares of the offshore drilling services provider’s stock valued at $290,984,000 after purchasing an additional 7,320,672 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Transocean by 19.0% in 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 period. Finally, Bank of New York Mellon Corp increased its stake in shares of Transocean by 18.3% during the second quarter. Bank of New York Mellon Corp now owns 16,858,264 shares of the offshore drilling services provider’s stock valued at $90,192,000 after buying an additional 2,606,017 shares during the period. 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.