Transocean (NYSE:RIG) Reaches New 12-Month Low - Should You Sell?

Transocean Ltd. (NYSE:RIG - Get Free Report)'s stock price hit a new 52-week low on Thursday . The company traded as low as $3.53 and last traded at $3.55, with a volume of 29549843 shares trading hands. The stock had previously closed at $3.62.

Analysts Set New Price Targets

A number of brokerages have issued reports on RIG. Susquehanna cut their price objective on Transocean from $7.00 to $6.50 and set a "positive" rating for the company in a report on Friday, November 1st. Benchmark reissued a "hold" rating on shares of Transocean in a report on Tuesday, December 3rd. Morgan Stanley upped their price objective on shares of Transocean from $5.00 to $6.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 3rd. Barclays upgraded shares of Transocean from an "equal weight" rating to an "overweight" rating and set a $4.50 target price for the company in a research note on Wednesday. Finally, JPMorgan Chase & Co. upgraded Transocean from an "underweight" rating to a "neutral" rating and set a $5.00 price target on the stock in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $6.25.

Transocean Stock Down 1.9 %

The firm's 50-day moving average is $4.19 and its two-hundred day moving average is $4.71. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.34 and a current ratio of 1.64. The stock has a market cap of $3.11 billion, a P/E ratio of -4.73 and a beta of 2.75.

Insider Activity

In related news, EVP Roderick James Mackenzie sold 20,000 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $4.29, for a total value of $85,800.00. Following the transaction, the executive vice president now directly owns 310,857 shares in the company, valued at $1,333,576.53. This represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 13.16% of the company's stock.

Institutional Trading of Transocean

Institutional investors and hedge funds have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. grew its stake in shares of 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 period. Nisa Investment Advisors LLC bought a new position in Transocean during the second quarter worth about $30,000. Orion Portfolio Solutions LLC acquired a new position in shares of Transocean during the 3rd quarter worth about $46,000. Atria Investments Inc bought a new stake in shares of Transocean in the 3rd quarter valued at about $51,000. Finally, Kovitz Investment Group Partners LLC raised 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 valued at $62,000 after acquiring an additional 4,027 shares during the period. Institutional investors own 67.73% of the company's stock.

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.