Transocean (NYSE:RIG) Trading 2.5% Higher - Time to Buy?

Transocean Ltd. (NYSE:RIG - Get Free Report)'s stock price shot up 2.5% during trading on Wednesday . The company traded as high as $3.82 and last traded at $3.75. 22,853,918 shares were traded during mid-day trading, an increase of 21% from the average session volume of 18,811,123 shares. The stock had previously closed at $3.66.

Analyst Upgrades and Downgrades

Several research firms have issued reports on RIG. Benchmark restated a "hold" rating on shares of Transocean in a research report on Tuesday, December 3rd. DNB Markets upgraded Transocean from a "hold" rating to a "buy" rating in a research report on Tuesday, September 3rd. Susquehanna lowered their price objective on Transocean from $7.00 to $6.50 and set a "positive" rating for the company in a research report on Friday, November 1st. Morgan Stanley lifted their target price 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. Finally, StockNews.com raised shares of Transocean to a "sell" rating in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Transocean has a consensus rating of "Hold" and an average price target of $6.25.

Transocean Trading Up 2.5 %

The company has a debt-to-equity ratio of 0.64, a current ratio of 1.64 and a quick ratio of 1.34. The stock's 50 day moving average is $4.09 and its 200-day moving average is $4.59. The company has a market capitalization of $3.28 billion, a P/E ratio of -5.00 and a beta of 2.75.

Insider Transactions at Transocean

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

Institutional Investors Weigh In On Transocean

Several hedge funds have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. grew 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 acquiring an additional 2,693 shares during the last quarter. Orion Portfolio Solutions LLC purchased a new stake in Transocean during the 3rd quarter valued at about $46,000. Atria Investments Inc bought a new stake in Transocean during the 3rd quarter valued at about $51,000. Kovitz Investment Group Partners LLC raised its holdings in Transocean by 34.0% in the third quarter. Kovitz Investment Group Partners LLC now owns 15,877 shares of the offshore drilling services provider's stock worth $62,000 after buying an additional 4,027 shares during the last quarter. Finally, Abel Hall LLC bought a new position in shares of Transocean in the third quarter worth approximately $65,000. 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.