Transocean (NYSE:RIG) Rating Increased to Overweight at Barclays

Transocean (NYSE:RIG - Get Free Report) was upgraded by research analysts at Barclays from an "equal weight" rating to an "overweight" rating in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. The brokerage presently has a $4.50 price objective on the offshore drilling services provider's stock. Barclays's price objective would indicate a potential upside of 24.31% from the company's previous close.

A number of other brokerages have also recently weighed in on RIG. Benchmark reissued a "hold" rating on shares of Transocean in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. raised Transocean from an "underweight" rating to a "neutral" rating and set a $5.00 target price for the company in a research report on Friday, December 6th. Citigroup lowered Transocean from a "buy" rating to a "neutral" rating in a research report on Thursday, September 12th. Morgan Stanley increased their price objective on Transocean from $5.00 to $6.00 and gave the company an "equal weight" rating in a report on Thursday, October 3rd. Finally, StockNews.com raised shares of Transocean to a "sell" rating in a report on Tuesday, November 12th. Two equities 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $6.25.

Transocean Stock Down 1.4 %

Transocean stock traded down $0.05 during mid-day trading on Wednesday, hitting $3.62. The company had a trading volume of 24,407,869 shares, compared to its average volume of 18,670,018. The company has a quick ratio of 1.34, a current ratio of 1.64 and a debt-to-equity ratio of 0.64. Transocean has a 1 year low of $3.54 and a 1 year high of $6.88. The business has a fifty day moving average of $4.21 and a 200 day moving average of $4.71. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of -4.83 and a beta of 2.75.

Insider Buying and Selling

In related news, EVP Roderick James Mackenzie sold 20,000 shares of the stock in a transaction dated Monday, November 18th. The shares were 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 of the company's stock, valued at $1,333,576.53. This represents a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 13.16% of the company's stock.

Hedge Funds Weigh In On Transocean

Several institutional investors and hedge funds have recently added to or reduced their stakes in RIG. Charles Schwab Investment Management Inc. lifted its holdings in shares of Transocean by 7.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,606,320 shares of the offshore drilling services provider's stock valued at $49,327,000 after buying an additional 826,229 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Transocean by 335.3% in the 3rd quarter. International Assets Investment Management LLC now owns 196,699 shares of the offshore drilling services provider's stock valued at $836,000 after purchasing an additional 151,507 shares in the last quarter. MetLife Investment Management LLC increased its holdings in Transocean by 125.9% in the third quarter. MetLife Investment Management LLC now owns 415,031 shares of the offshore drilling services provider's stock valued at $1,764,000 after buying an additional 231,334 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Transocean by 214.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 382,362 shares of the offshore drilling services provider's stock valued at $2,046,000 after purchasing an additional 260,710 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new position in shares of Transocean during the 3rd quarter worth $670,000. Institutional investors and hedge funds 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.