Transocean Ltd. (NYSE:RIG) Receives $6.25 Average Price Target from Analysts

Shares of Transocean Ltd. (NYSE:RIG) have received a consensus recommendation of “Hold” from the nine brokerages that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $6.25.

A number of brokerages have commented on RIG. Citigroup downgraded Transocean from a “buy” rating to a “neutral” rating in a research note 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. Morgan Stanley increased their price objective on shares of Transocean from $5.00 to $6.00 and gave the stock an “equal weight” rating in a report on Thursday, October 3rd. Susquehanna decreased their target price on shares of Transocean from $7.00 to $6.50 and set a “positive” rating for the company in a research report on Friday, November 1st. Finally, Barclays raised Transocean from an “equal weight” rating to an “overweight” rating and set a $4.50 price target on the stock in a report on Wednesday.

Transocean Stock Performance

Transocean stock opened at $3.62 on Friday. The company has a market cap of $3.17 billion, a PE ratio of -4.83 and a beta of 2.75. Transocean has a 12 month low of $3.54 and a 12 month high of $6.88. The company has a fifty day moving average price of $4.21 and a two-hundred day moving average price of $4.71. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.64 and a quick ratio of 1.34.

Insider Buying and Selling at Transocean

In related news, EVP Roderick James Mackenzie sold 20,000 shares of the business’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 sale, the executive vice president now directly owns 310,857 shares in the company, valued at $1,333,576.53. The trade was a 6.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 13.16% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Transocean

A number of hedge funds have recently modified their holdings of RIG. Northwestern Mutual Wealth Management Co. grew its position in Transocean by 138.8% during the 2nd 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 in the last quarter. Nisa Investment Advisors LLC purchased a new position in shares of Transocean during the second quarter valued at $30,000. Orion Portfolio Solutions LLC acquired a new position in Transocean during the third quarter valued at $46,000. Atria Investments Inc purchased a new stake in Transocean in the 3rd quarter worth about $51,000. Finally, Kovitz Investment Group Partners LLC boosted its position in Transocean by 34.0% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 15,877 shares of the offshore drilling services provider’s stock worth $62,000 after acquiring an additional 4,027 shares during the period. 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.