Transocean (NYSE:RIG) Upgraded at StockNews.com

StockNews.com upgraded shares of Transocean (NYSE:RIG) to a sell rating in a report issued on Tuesday.

A number of other equities research analysts also recently commented on the company. Barclays decreased their target price on Transocean from $6.00 to $4.50 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. DNB Markets upgraded shares of Transocean from a “hold” rating to a “buy” rating in a research note on Tuesday, September 3rd. Citigroup lowered shares of Transocean from a “buy” rating to a “neutral” rating in a research note on Thursday, September 12th. Benchmark cut shares of Transocean from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. Finally, Morgan Stanley upped their price target on shares of Transocean from $5.00 to $6.00 and gave the company an “equal weight” rating in a report on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $6.63.

Transocean Stock Up 5.1 %

NYSE:RIG opened at $4.46 on Tuesday. The company has a current ratio of 1.64, a quick ratio of 1.34 and a debt-to-equity ratio of 0.64. Transocean has a 12 month low of $3.85 and a 12 month high of $6.88. The firm has a fifty day simple moving average of $4.31 and a 200-day simple moving average of $5.00.

Insider Buying and Selling at Transocean

In other Transocean news, Director Perestroika purchased 1,500,000 shares of the stock in a transaction on Thursday, September 12th. The shares were bought at an average price of $4.13 per share, for a total transaction of $6,195,000.00. Following the completion of the transaction, the director now owns 91,074,894 shares of the company’s stock, valued at $376,139,312.22. This trade represents a 1.67 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 13.16% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in Transocean by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 68,982,142 shares of the offshore drilling services provider’s stock valued at $433,208,000 after acquiring an additional 429,950 shares during the period. Russell Investments Group Ltd. grew its position in shares of Transocean by 76.9% in the first quarter. Russell Investments Group Ltd. now owns 402,839 shares of the offshore drilling services provider’s stock valued at $2,530,000 after purchasing an additional 175,130 shares during the period. International Assets Investment Management LLC increased its stake in shares of Transocean by 335.3% during the third quarter. International Assets Investment Management LLC now owns 196,699 shares of the offshore drilling services provider’s stock worth $836,000 after purchasing an additional 151,507 shares in the last quarter. Swiss National Bank raised its position in shares of Transocean by 3.6% during the 1st quarter. Swiss National Bank now owns 1,437,730 shares of the offshore drilling services provider’s stock worth $9,029,000 after purchasing an additional 49,800 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Transocean by 214.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 382,362 shares of the offshore drilling services provider’s stock valued at $2,046,000 after buying an additional 260,710 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

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.