Transocean Ltd. (NYSE:RIG - Get Free Report) shares were up 4.8% during trading on Thursday . The company traded as high as $3.93 and last traded at $3.93. Approximately 6,022,400 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 18,811,123 shares. The stock had previously closed at $3.75.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on the company. JPMorgan Chase & Co. upgraded Transocean from an "underweight" rating to a "neutral" rating and set a $5.00 target price for the company in a research note on Friday, December 6th. Morgan Stanley increased their price objective on shares of Transocean from $5.00 to $6.00 and gave the company an "equal weight" rating in a research report on Thursday, October 3rd. Susquehanna reduced their target price on shares of Transocean from $7.00 to $6.50 and set a "positive" rating for the company in a report on Friday, November 1st. StockNews.com raised shares of Transocean to a "sell" rating in a report on Tuesday, November 12th. Finally, Citigroup cut Transocean from a "buy" rating to a "neutral" rating in a report on Thursday, September 12th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $6.25.
Check Out Our Latest Analysis on Transocean
Transocean Stock Up 5.3 %
The stock has a market capitalization of $3.46 billion, a P/E ratio of -5.27 and a beta of 2.75. 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 firm has a 50-day simple moving average of $4.08 and a 200 day simple moving average of $4.58.
Insider Activity at Transocean
In other news, EVP Roderick James Mackenzie sold 20,000 shares of the firm's 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 completion of the transaction, the executive vice president now directly owns 310,857 shares in the company, valued at $1,333,576.53. This trade represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 13.16% of the stock is owned by company insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. lifted its stake in Transocean by 44.1% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 256,172 shares of the offshore drilling services provider's stock valued at $1,371,000 after buying an additional 78,382 shares during the period. Principal Financial Group Inc. bought a new position in Transocean during the second quarter worth $383,000. Rhumbline Advisers grew its holdings in Transocean by 53,530.4% in the second quarter. Rhumbline Advisers now owns 1,109,612 shares of the offshore drilling services provider's stock worth $5,936,000 after purchasing an additional 1,107,543 shares during the period. Kailix Advisors LLC increased its stake in Transocean by 78.9% in the second quarter. Kailix Advisors LLC now owns 4,139,392 shares of the offshore drilling services provider's stock valued at $23,346,000 after purchasing an additional 1,825,044 shares in the last quarter. Finally, Ovata Capital Management Ltd acquired a new position in shares of Transocean during the second quarter valued at about $1,605,000. Institutional investors and hedge funds 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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