Transocean (NYSE:RIG) Hits New 52-Week Low - Should You Sell?

Shares of Transocean Ltd. (NYSE:RIG - Get Free Report) hit a new 52-week low on Friday . The stock traded as low as $3.85 and last traded at $3.85, with a volume of 4212395 shares. The stock had previously closed at $3.94.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Morgan Stanley boosted their target price 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. DNB Markets raised Transocean from a "hold" rating to a "buy" rating in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. upgraded Transocean from an "underweight" rating to a "neutral" rating and set a $5.00 target price on the stock in a report on Friday, December 6th. Citigroup downgraded Transocean from a "buy" rating to a "neutral" rating in a report on Thursday, September 12th. Finally, 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. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Transocean presently has a consensus rating of "Hold" and a consensus price target of $6.25.

Transocean Stock Down 2.0 %

The stock has a market capitalization of $3.38 billion, a price-to-earnings ratio of -5.15 and a beta of 2.75. The firm has a 50-day moving average of $4.25 and a 200 day moving average of $4.76. The company has a current ratio of 1.64, a quick ratio of 1.34 and a debt-to-equity ratio of 0.64.

Insider Activity

In related news, EVP Roderick James Mackenzie sold 20,000 shares of the business's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $4.29, for a total value of $85,800.00. Following the transaction, the executive vice president now owns 310,857 shares in the company, valued at approximately $1,333,576.53. The trade was a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 13.16% of the company's stock.

Hedge Funds Weigh In On Transocean

A number of institutional investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. increased its stake in shares of Transocean by 138.8% in 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 buying an additional 2,693 shares during the last quarter. Nisa Investment Advisors LLC bought a new stake in shares of Transocean in the 2nd quarter worth about $30,000. Orion Portfolio Solutions LLC acquired a new stake in shares of Transocean in the 3rd quarter valued at about $46,000. SG Americas Securities LLC bought a new position in shares of Transocean during the second quarter worth about $64,000. Finally, Atria Investments Inc acquired a new position in Transocean in the third quarter worth about $51,000. 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.