Transocean (NYSE:RIG) Stock Price Down 1.3% - Here's Why

Transocean Ltd. (NYSE:RIG - Get Free Report)'s share price fell 1.3% during trading on Friday . The stock traded as low as $3.90 and last traded at $3.90. 5,091,565 shares traded hands during trading, a decline of 68% from the average session volume of 16,086,239 shares. The stock had previously closed at $3.95.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Benchmark reaffirmed a "hold" rating on shares of Transocean in a research note on Tuesday, December 3rd. Susquehanna lowered their price objective on shares of Transocean from $7.00 to $6.50 and set a "positive" rating for the company in a research note on Friday, November 1st. Citigroup downgraded shares of Transocean from a "buy" rating to a "neutral" rating in a research report on Thursday, September 12th. 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 report on Wednesday, December 18th. Finally, Morgan Stanley increased their price objective on shares of Transocean from $5.00 to $6.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $6.25.

Transocean Price Performance

The firm has a market cap of $3.47 billion, a price-to-earnings ratio of -5.28 and a beta of 2.75. The business has a 50 day simple moving average of $4.08 and a 200-day simple moving average of $4.57. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.34 and a current ratio of 1.64.

Insider Transactions at Transocean

In related news, EVP Roderick James Mackenzie sold 20,000 shares of Transocean stock in a transaction on 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 in the company, 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 legal filing with the SEC, which can be accessed through this link. Company insiders own 13.16% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RIG. Northwestern Mutual Wealth Management Co. lifted its position in shares of Transocean by 138.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,633 shares of the offshore drilling services provider's stock valued at $25,000 after buying an additional 2,693 shares during the last quarter. Orion Portfolio Solutions LLC bought a new stake in Transocean in the 3rd quarter valued at about $46,000. Atria Investments Inc purchased a new stake in Transocean during the third quarter valued at about $51,000. Kovitz Investment Group Partners LLC boosted its position in Transocean by 34.0% during 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 purchasing an additional 4,027 shares during the period. Finally, Abel Hall LLC purchased a new position in shares of Transocean in the third quarter worth about $65,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

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.