Transocean (NYSE:RIG) Stock Price Up 0.7% – Should You Buy?

Transocean Ltd. (NYSE:RIG) shares were up 0.7% during trading on Monday . The company traded as high as $4.13 and last traded at $4.06. Approximately 5,106,515 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 24,257,090 shares. The stock had previously closed at $4.03.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Morgan Stanley raised their target price 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. Benchmark reaffirmed a “hold” rating on shares of Transocean in a report on Tuesday, December 3rd. Barclays upgraded Transocean from an “equal weight” rating to an “overweight” rating and set a $4.50 price objective for the company in a report on Wednesday, December 18th. Susquehanna dropped their price objective on shares of Transocean from $7.00 to $6.50 and set a “positive” rating for the company in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. upgraded Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 price target on the stock in a report on Friday, December 6th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Transocean has an average rating of “Hold” and an average target price of $5.94.

Transocean Trading Up 5.2 %

The company has a debt-to-equity ratio of 0.64, a current ratio of 1.64 and a quick ratio of 1.34. The stock has a 50 day moving average of $4.06 and a 200 day moving average of $4.50. The firm has a market cap of $3.75 billion, a P/E ratio of -5.71 and a beta of 2.73.

Insiders Place Their Bets

In other Transocean news, EVP Roderick James Mackenzie sold 20,000 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $4.29, for a total value of $85,800.00. Following the completion of the sale, the executive vice president now owns 310,857 shares in the company, valued at approximately $1,333,576.53. This trade represents a 6.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 13.16% of the company’s stock.

Institutional Investors Weigh In On Transocean

Several institutional investors and hedge funds have recently modified their holdings of the stock. Pilgrim Global Advisors LLC bought a new position in shares of Transocean in the 3rd quarter worth about $77,473,000. Dimensional Fund Advisors LP grew its stake in shares of Transocean by 19.0% in the second quarter. Dimensional Fund Advisors LP now owns 36,725,995 shares of the offshore drilling services provider’s stock worth $196,484,000 after acquiring an additional 5,856,414 shares during the period. Kailix Advisors LLC raised its stake in Transocean by 59.9% during the 3rd quarter. Kailix Advisors LLC now owns 6,620,451 shares of the offshore drilling services provider’s stock valued at $28,137,000 after buying an additional 2,481,059 shares during the last quarter. Point72 Europe London LLP bought a new position in Transocean in the third quarter valued at about $8,935,000. Finally, State Street Corp increased its holdings in Transocean by 11.0% during the third quarter. State Street Corp now owns 19,594,121 shares of the offshore drilling services provider’s stock valued at $83,275,000 after buying an additional 1,944,723 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

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.