Shares of Transocean Ltd. (NYSE:RIG - Get Free Report) traded down 2% during trading on Monday . The stock traded as low as $3.46 and last traded at $3.46. 3,434,289 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 18,700,352 shares. The stock had previously closed at $3.53.
Wall Street Analyst Weigh In
RIG has been the subject of several analyst reports. Benchmark reiterated a "hold" rating on shares of Transocean in a research note on Tuesday, December 3rd. Barclays upgraded shares of Transocean from an "equal weight" rating to an "overweight" rating and set a $4.50 price target for the company in a research report on Wednesday, December 18th. JPMorgan Chase & Co. raised 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. Citigroup downgraded Transocean from a "buy" rating to a "neutral" rating in a research report on Thursday, September 12th. Finally, Morgan Stanley raised their price target on Transocean from $5.00 to $6.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $6.25.
Get Our Latest Stock Report on Transocean
Transocean Stock Performance
The stock has a market cap of $3.04 billion, a price-to-earnings ratio of -4.63 and a beta of 2.75. The company has a quick ratio of 1.34, a current ratio of 1.64 and a debt-to-equity ratio of 0.64. The company has a 50 day simple moving average of $4.18 and a 200 day simple moving average of $4.68.
Insiders Place Their Bets
In other news, EVP Roderick James Mackenzie sold 20,000 shares of Transocean stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $4.29, for a total transaction of $85,800.00. Following the sale, the executive vice president now directly owns 310,857 shares of the company's stock, valued at approximately $1,333,576.53. This trade represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 12.54% of the company's stock.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in RIG. Primecap Management Co. CA increased its position in Transocean by 0.4% during the 3rd quarter. Primecap Management Co. CA now owns 56,342,169 shares of the offshore drilling services provider's stock valued at $239,454,000 after purchasing an additional 222,680 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Transocean by 19.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 36,725,995 shares of the offshore drilling services provider's stock valued at $196,484,000 after purchasing an additional 5,856,414 shares in the last quarter. State Street Corp grew its stake in Transocean by 11.0% during the third quarter. State Street Corp now owns 19,594,121 shares of the offshore drilling services provider's stock worth $83,275,000 after purchasing an additional 1,944,723 shares during the period. Pilgrim Global Advisors LLC bought a new stake in Transocean in the third quarter worth approximately $77,473,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Transocean by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 17,245,298 shares of the offshore drilling services provider's stock worth $73,307,000 after buying an additional 680,242 shares in the last quarter. Institutional investors own 67.73% of the company's stock.
About Transocean
(
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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.
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