Transocean (NYSE:RIG) Shares Down 1.1% – What’s Next?

Shares of Transocean Ltd. (NYSE:RIG) fell 1.1% during mid-day trading on Monday . The stock traded as low as $4.00 and last traded at $4.06. 22,829,131 shares were traded during mid-day trading, an increase of 11% from the average session volume of 20,549,820 shares. The stock had previously closed at $4.10.

Wall Street Analyst Weigh In

RIG has been the topic of several analyst reports. Barclays raised shares of Transocean from an “equal weight” rating to an “overweight” rating and set a $4.50 target price on the stock in a research report on Wednesday, December 18th. Susquehanna cut their price objective on Transocean from $7.00 to $6.50 and set a “positive” rating on the stock in a research note on Friday, November 1st. 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 report on Thursday, October 3rd. StockNews.com upgraded Transocean to a “sell” rating in a report on Tuesday, November 12th. Finally, Benchmark restated a “hold” rating on shares of Transocean in a research note on Tuesday, December 3rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Transocean presently has an average rating of “Hold” and an average price target of $5.94.

Transocean Stock 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 stock’s 50-day moving average is $4.02 and its 200-day moving average is $4.46.

Insider Activity

In related news, EVP Roderick James Mackenzie sold 22,000 shares of the company’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $4.05, for a total value of $89,100.00. Following the completion of the transaction, the executive vice president now directly owns 229,596 shares in the company, valued at approximately $929,863.80. This represents a 8.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.54% of the stock is owned by company insiders.

Institutional Investors Weigh In On Transocean

A number of institutional investors have recently bought and sold shares of RIG. Oppenheimer Asset Management Inc. lifted its holdings in shares of Transocean by 10.9% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 25,170 shares of the offshore drilling services provider’s stock worth $107,000 after acquiring an additional 2,469 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in 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. Ballentine Partners LLC boosted its holdings in Transocean by 19.4% during the fourth quarter. Ballentine Partners LLC now owns 18,247 shares of the offshore drilling services provider’s stock valued at $68,000 after purchasing an additional 2,963 shares in the last quarter. Pallas Capital Advisors LLC grew its stake in shares of Transocean by 25.6% in the 4th 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 period. Finally, Kovitz Investment Group Partners LLC raised its holdings in shares of Transocean by 34.0% in 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 buying an additional 4,027 shares in the last quarter. Institutional investors and hedge funds 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.