Transocean (NYSE:RIG) Stock Price Up 3.7% - What's Next?

Transocean Ltd. (NYSE:RIG - Get Free Report) shares shot up 3.7% during trading on Monday . The company traded as high as $2.26 and last traded at $2.25. 6,674,160 shares were traded during trading, a decline of 71% from the average session volume of 22,781,105 shares. The stock had previously closed at $2.17.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on RIG shares. Morgan Stanley cut their price objective on Transocean from $5.00 to $4.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 27th. Citigroup cut their price target on shares of Transocean from $4.50 to $3.50 and set a "neutral" rating on the stock in a report on Wednesday, March 19th. Evercore ISI lowered shares of Transocean from an "outperform" rating to an "in-line" rating and decreased their price objective for the stock from $6.00 to $5.00 in a report on Wednesday, January 15th. Barclays cut their target price on shares of Transocean from $4.00 to $3.50 and set an "overweight" rating on the stock in a research note on Monday, April 7th. Finally, SEB Equity Research set a $2.80 price target on shares of Transocean in a research note on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Transocean has a consensus rating of "Hold" and a consensus target price of $4.98.

Transocean Stock Up 3.5 %

The company has a quick ratio of 1.34, a current ratio of 1.47 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $1.98 billion, a PE ratio of -3.08, a price-to-earnings-growth ratio of 0.86 and a beta of 2.29. The company's fifty day moving average price is $3.08 and its 200-day moving average price is $3.75.

Transocean (NYSE:RIG - Get Free Report) last released its earnings results on Monday, February 17th. The offshore drilling services provider reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.11). Transocean had a negative return on equity of 0.52% and a negative net margin of 14.53%. The company had revenue of $952.00 million during the quarter, compared to the consensus estimate of $962.28 million. Analysts forecast that Transocean Ltd. will post 0.14 earnings per share for the current year.

Insider Activity at Transocean

In related news, EVP Roderick James Mackenzie sold 22,000 shares of the company's stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $3.85, for a total value of $84,700.00. Following the transaction, the executive vice president now directly owns 313,072 shares of the company's stock, valued at approximately $1,205,327.20. This represents a 6.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 13.16% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Transocean

Several hedge funds and other institutional investors have recently bought and sold shares of RIG. American Century Companies Inc. grew its position in Transocean by 51.5% in the 4th quarter. American Century Companies Inc. now owns 19,257,437 shares of the offshore drilling services provider's stock worth $72,215,000 after purchasing an additional 6,542,271 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Transocean in the 4th quarter worth $16,608,000. SIR Capital Management L.P. bought a new stake in shares of Transocean in the fourth quarter worth $14,976,000. Van ECK Associates Corp increased its position in Transocean by 33.9% during the fourth quarter. Van ECK Associates Corp now owns 15,393,873 shares of the offshore drilling services provider's stock valued at $57,727,000 after acquiring an additional 3,895,880 shares during the last quarter. Finally, Madison Investment Advisors LLC bought a new position in Transocean in the fourth quarter valued at about $11,156,000. Institutional investors 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.