Transocean (NYSE:RIG) Trading Down 1.8% – Should You Sell?

Transocean Ltd. (NYSE:RIG) fell 1.8% on Friday . The stock traded as low as $4.02 and last traded at $4.03. 5,162,125 shares were traded during trading, a decline of 79% from the average session volume of 24,660,520 shares. The stock had previously closed at $4.10.

Analyst Ratings Changes

A number of brokerages have issued reports on RIG. StockNews.com raised Transocean to a “sell” rating in a research note on Tuesday, November 12th. Susquehanna lowered their target price 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. Evercore ISI downgraded shares of Transocean from an “outperform” rating to an “in-line” rating and cut their price target for the stock from $6.00 to $5.00 in a research note on Wednesday. Morgan Stanley boosted their price objective on shares of Transocean from $5.00 to $6.00 and gave the company an “equal weight” rating in a research note on Thursday, October 3rd. Finally, Barclays raised 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. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $5.94.

Transocean Trading Down 1.1 %

The firm has a fifty day moving average of $4.03 and a 200-day moving average of $4.49. 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 $3.55 billion, a price-to-earnings ratio of -5.41, a P/E/G ratio of 0.67 and a beta of 2.73.

Insider Activity

In related news, EVP Roderick James Mackenzie sold 22,000 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $4.05, for a total transaction of $89,100.00. Following the completion of the sale, the executive vice president now directly owns 229,596 shares of the company’s stock, valued at approximately $929,863.80. This trade represents a 8.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 12.54% of the company’s stock.

Hedge Funds Weigh In On Transocean

A number of institutional investors have recently added to or reduced their stakes in the company. Primecap Management Co. CA increased its position in shares of Transocean by 0.4% during the third quarter. Primecap Management Co. CA now owns 56,342,169 shares of the offshore drilling services provider’s stock worth $239,454,000 after acquiring an additional 222,680 shares during the last quarter. State Street Corp increased its holdings in Transocean by 11.0% during the 3rd quarter. State Street Corp now owns 19,594,121 shares of the offshore drilling services provider’s stock worth $83,275,000 after purchasing an additional 1,944,723 shares during the last quarter. Pilgrim Global Advisors LLC acquired a new position in shares of Transocean in the 3rd quarter valued at approximately $77,473,000. Geode Capital Management LLC boosted its stake in shares of Transocean by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 17,245,298 shares of the offshore drilling services provider’s stock valued at $73,307,000 after buying an additional 680,242 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Transocean by 7.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 11,606,320 shares of the offshore drilling services provider’s stock worth $49,327,000 after buying an additional 826,229 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.