Transocean Ltd. (NYSE:RIG) Receives $6.63 Consensus Price Target from Brokerages

Shares of Transocean Ltd. (NYSE:RIG - Get Free Report) have earned an average rating of "Hold" from the nine analysts that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $6.63.

A number of equities research analysts have commented on the company. Citigroup lowered Transocean from a "buy" rating to a "neutral" rating in a research report on Thursday, September 12th. DNB Markets raised Transocean from a "hold" rating to a "buy" rating in a research note on Tuesday, September 3rd. Susquehanna dropped their price objective on Transocean from $7.00 to $6.50 and set a "positive" rating on the stock in a research note on Friday, November 1st. StockNews.com raised Transocean to a "sell" rating in a research note on Tuesday, November 12th. Finally, Morgan Stanley boosted their price objective on Transocean from $5.00 to $6.00 and gave the company an "equal weight" rating in a research note on Thursday, October 3rd.

Insiders Place Their Bets

In other Transocean news, Director Perestroika acquired 1,500,000 shares of the company's stock in a transaction that occurred on Thursday, September 12th. The stock was bought at an average price of $4.13 per share, with a total value of $6,195,000.00. Following the completion of the purchase, the director now owns 91,074,894 shares of the company's stock, valued at approximately $376,139,312.22. This represents a 1.67 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 12.54% of the company's stock.

Institutional Investors Weigh In On Transocean

Hedge funds have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. lifted its stake in Transocean by 138.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,633 shares of the offshore drilling services provider's stock worth $25,000 after purchasing an additional 2,693 shares during the last quarter. Nisa Investment Advisors LLC purchased a new position in shares of Transocean during the 2nd quarter worth approximately $30,000. Orion Portfolio Solutions LLC purchased a new position in shares of Transocean during the 3rd quarter worth approximately $46,000. SG Americas Securities LLC purchased a new position in shares of Transocean during the 2nd quarter worth approximately $64,000. Finally, Atria Investments Inc purchased a new position in shares of Transocean during the 3rd quarter worth approximately $51,000. Institutional investors own 67.73% of the company's stock.

Transocean Price Performance

NYSE RIG traded down $0.10 during midday trading on Tuesday, hitting $4.20. The company had a trading volume of 14,099,956 shares, compared to its average volume of 18,552,246. The company has a market capitalization of $3.68 billion, a PE ratio of -5.67 and a beta of 2.78. The company has a current ratio of 1.64, a quick ratio of 1.34 and a debt-to-equity ratio of 0.64. The firm has a 50-day moving average price of $4.32 and a 200-day moving average price of $4.98. Transocean has a twelve month low of $3.85 and a twelve month high of $6.88.

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.