Transocean (NYSE:RIG) Trading 1.5% Higher - Time to Buy?

Transocean Ltd. (NYSE:RIG - Get Free Report)'s share price rose 1.5% during trading on Friday . The company traded as high as $4.19 and last traded at $4.05. Approximately 8,083,603 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 23,414,295 shares. The stock had previously closed at $3.99.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on RIG shares. StockNews.com raised shares of Transocean to a "sell" rating in a research note on Tuesday, November 12th. Citigroup lowered shares of Transocean from a "buy" rating to a "neutral" rating in a research report on Thursday, September 12th. JPMorgan Chase & Co. upgraded shares of Transocean from an "underweight" rating to a "neutral" rating and set a $5.00 price target for the company in a research report on Friday, December 6th. Morgan Stanley upped their price target on Transocean from $5.00 to $6.00 and gave the stock an "equal weight" rating in a report on Thursday, October 3rd. Finally, Benchmark reaffirmed a "hold" rating on shares of Transocean in a report on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $6.17.

Transocean Stock Up 1.3 %

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 two-hundred day simple moving average of $4.54. The company has a market cap of $3.54 billion, a PE ratio of -5.39 and a beta of 2.73.

Insider Activity at Transocean

In other Transocean news, EVP Roderick James Mackenzie sold 20,000 shares of the business's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $4.29, for a total value 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 approximately $1,333,576.53. The trade was a 6.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 12.54% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Transocean

Hedge funds have recently made changes to their positions in the business. Pilgrim Global Advisors LLC purchased a new position in Transocean during the third quarter worth approximately $77,473,000. Dimensional Fund Advisors LP boosted its holdings in Transocean by 19.0% in the second 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 acquiring an additional 5,856,414 shares during the last quarter. American Century Companies Inc. increased its stake in Transocean by 24.3% during the second quarter. American Century Companies Inc. now owns 13,437,572 shares of the offshore drilling services provider's stock worth $71,891,000 after acquiring an additional 2,623,615 shares during the last quarter. Kailix Advisors LLC raised its holdings in shares of Transocean by 59.9% in the 3rd quarter. Kailix Advisors LLC now owns 6,620,451 shares of the offshore drilling services provider's stock worth $28,137,000 after purchasing an additional 2,481,059 shares during the period. Finally, Point72 Europe London LLP acquired a new position in shares of Transocean in the 3rd quarter valued at about $8,935,000. Institutional investors and hedge funds own 67.73% of the company's stock.

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.