Transocean Ltd. (NYSE:RIG) Given Average Rating of “Hold” by Brokerages

Transocean Ltd. (NYSE:RIGGet Free Report) has been given an average recommendation of “Hold” by the ten ratings firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $4.2556.

Several analysts have recently commented on RIG shares. Wall Street Zen upgraded shares of Transocean from a “sell” rating to a “hold” rating in a research note on Sunday, August 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Transocean in a report on Wednesday, October 8th. Finally, Barclays increased their price target on shares of Transocean from $3.50 to $4.00 and gave the company an “overweight” rating in a report on Wednesday, August 13th.

Check Out Our Latest Analysis on RIG

Transocean Stock Down 2.3%

RIG stock opened at $3.13 on Friday. Transocean has a one year low of $1.97 and a one year high of $4.74. The stock has a market capitalization of $2.95 billion, a PE ratio of -1.68, a price-to-earnings-growth ratio of 6.16 and a beta of 2.68. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 1.26. The company has a fifty day moving average of $3.16 and a 200-day moving average of $2.83.

Insider Transactions at Transocean

In related news, Director Frederik Wilhelm Mohn purchased 4,000,000 shares of the business’s stock in a transaction dated Friday, September 26th. The stock was acquired at an average price of $3.05 per share, for a total transaction of $12,200,000.00. Following the acquisition, the director directly owned 95,074,894 shares of the company’s stock, valued at $289,978,426.70. This trade represents a 4.39% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director (Cyprus) Ltd Perestroika purchased 4,000,000 shares of the business’s stock in a transaction dated Friday, September 26th. The stock was bought at an average price of $3.05 per share, with a total value of $12,200,000.00. Following the acquisition, the director directly owned 95,074,894 shares in the company, valued at approximately $289,978,426.70. This represents a 4.39% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 12.54% of the company’s stock.

Hedge Funds Weigh In On Transocean

Several hedge funds have recently added to or reduced their stakes in the business. HBK Sorce Advisory LLC increased its holdings in Transocean by 44.1% during the 3rd quarter. HBK Sorce Advisory LLC now owns 23,249 shares of the offshore drilling services provider’s stock valued at $79,000 after acquiring an additional 7,115 shares in the last quarter. Beacon Financial Group purchased a new position in Transocean during the 3rd quarter valued at about $39,000. Corient Private Wealth LLC grew its holdings in shares of Transocean by 91.2% during the second quarter. Corient Private Wealth LLC now owns 27,634 shares of the offshore drilling services provider’s stock worth $72,000 after buying an additional 13,180 shares in the last quarter. Osaic Holdings Inc. grew its holdings in shares of Transocean by 96.6% during the second quarter. Osaic Holdings Inc. now owns 189,912 shares of the offshore drilling services provider’s stock worth $492,000 after buying an additional 93,311 shares in the last quarter. Finally, Marex Group plc purchased a new stake in shares of Transocean during the second quarter worth about $471,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Transocean Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Transocean (NYSE:RIG)

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