Brokerages Set Transocean Ltd. (NYSE:RIG) Target Price at $5.94

Shares of Transocean Ltd. (NYSE:RIG) have been given a consensus recommendation of “Hold” by the ten research firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $5.94.

A number of analysts have weighed in on RIG shares. TD Cowen decreased their price target on Transocean from $6.50 to $5.50 and set a “hold” rating for the company in a report on Wednesday, January 8th. Benchmark reiterated a “hold” rating on shares of Transocean in a report on Tuesday, December 3rd. StockNews.com raised Transocean to a “sell” rating in a research note on Tuesday, November 12th. 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. Finally, Susquehanna dropped their target price on shares of Transocean from $7.00 to $6.50 and set a “positive” rating on the stock in a research report on Friday, November 1st.

Insider Activity at Transocean

In related news, EVP Roderick James Mackenzie sold 22,000 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $4.05, for a total value of $89,100.00. Following the transaction, the executive vice president now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.16% of the stock is currently owned by insiders.

Institutional Trading of Transocean

Several institutional investors and hedge funds have recently modified their holdings of RIG. Raymond James Financial Inc. purchased a new position in shares of Transocean during the fourth quarter valued at approximately $893,000. Aigen Investment Management LP bought a new position in Transocean during the 4th quarter valued at $176,000. Keybank National Association OH boosted its holdings in Transocean by 0.4% during the 4th quarter. Keybank National Association OH now owns 11,807,393 shares of the offshore drilling services provider’s stock worth $44,278,000 after acquiring an additional 43,155 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Transocean by 7.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,465,534 shares of the offshore drilling services provider’s stock worth $46,746,000 after acquiring an additional 859,214 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in shares of Transocean by 163.7% in the fourth quarter. Jones Financial Companies Lllp now owns 22,655 shares of the offshore drilling services provider’s stock valued at $85,000 after purchasing an additional 14,065 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Transocean Trading Down 3.0 %

RIG opened at $3.76 on Friday. The stock has a market cap of $3.29 billion, a PE ratio of -5.01, a price-to-earnings-growth ratio of 0.79 and a beta of 2.70. 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 has a twelve month low of $3.40 and a twelve month high of $6.88. The company has a fifty day moving average of $3.91 and a 200-day moving average of $4.36.

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.