Transocean Ltd. (NYSE:RIG) Receives $6.25 Consensus PT from Brokerages

Transocean Ltd. (NYSE:RIG) has been given an average recommendation of “Hold” by the ten brokerages that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $6.17.

Several equities research analysts have recently issued reports on the stock. TD Cowen dropped their price objective on shares of Transocean from $6.50 to $5.50 and set a “hold” rating for the company in a research report on Wednesday, January 8th. JPMorgan Chase & Co. raised shares of Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 price objective for the company in a research report on Friday, December 6th. Barclays raised shares of Transocean from an “equal weight” rating to an “overweight” rating and set a $4.50 price objective for the company in a research report on Wednesday, December 18th. Benchmark reissued a “hold” rating on shares of Transocean in a research report on Tuesday, December 3rd. Finally, StockNews.com raised shares of Transocean to a “sell” rating in a report on Tuesday, November 12th.

Insider Buying and Selling at Transocean

In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of the 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 transaction, the executive vice president now directly owns 229,596 shares in the company, valued at $929,863.80. This represents a 8.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 13.16% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. boosted its stake in Transocean by 138.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,633 shares of the offshore drilling services provider’s stock valued at $25,000 after acquiring an additional 2,693 shares during the last quarter. Orion Portfolio Solutions LLC bought a new position in Transocean during the 3rd quarter valued at $46,000. Atria Investments Inc bought a new position in Transocean during the 3rd quarter valued at $51,000. Pallas Capital Advisors LLC boosted its stake in Transocean by 25.6% during 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 acquiring an additional 3,127 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC lifted its position 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 during the last quarter. 67.73% of the stock is currently owned by institutional investors.

Transocean Price Performance

Transocean stock opened at $4.07 on Wednesday. Transocean has a 52-week low of $3.40 and a 52-week high of $6.88. The firm has a fifty day moving average of $4.07 and a 200-day moving average of $4.51. The firm has a market capitalization of $3.56 billion, a P/E ratio of -5.43 and a beta of 2.73. The company has a quick ratio of 1.34, a current ratio of 1.64 and a debt-to-equity ratio of 0.64.

Transocean Company Profile

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.