Brokerages Set Transocean Ltd. (NYSE:RIG) Target Price at $5.22

Transocean Ltd. (NYSE:RIG) has received a consensus recommendation of “Hold” from the nine ratings firms that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $5.2214.

Several equities analysts have recently issued reports on the stock. Barclays upped their price objective on shares of Transocean from $4.00 to $4.50 and gave the company an “overweight” rating in a report on Wednesday, November 5th. BTIG Research upped their price target on shares of Transocean from $6.00 to $10.00 and gave the company a “buy” rating in a research note on Monday, February 9th. Fearnley Fonds downgraded shares of Transocean from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 10th. Pareto Securities cut Transocean from a “hold” rating to a “sell” rating and set a $5.25 price target for the company. in a research report on Tuesday, February 10th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Transocean in a research note on Wednesday, December 10th.

Transocean Stock Up 8.2%

Shares of RIG stock opened at $6.53 on Thursday. The stock’s fifty day moving average price is $4.59 and its 200 day moving average price is $3.88. Transocean has a 1-year low of $1.97 and a 1-year high of $6.57. The company has a market cap of $7.19 billion, a price-to-earnings ratio of -1.99 and a beta of 1.45. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.08 and a quick ratio of 0.91.

Insider Buying and Selling

In related news, insider Jeremy D. Thigpen sold 500,000 shares of the business’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $4.32, for a total transaction of $2,160,000.00. Following the completion of the transaction, the insider directly owned 2,136,223 shares in the company, valued at $9,228,483.36. The trade was a 18.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Perestroika purchased 1,500,000 shares of the stock in a transaction on Monday, November 24th. The stock was acquired at an average cost of $4.02 per share, for a total transaction of $6,030,000.00. Following the completion of the acquisition, the director owned 96,574,894 shares of the company’s stock, valued at $388,231,073.88. The trade was a 1.58% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 712,970 shares of company stock worth $3,152,132 in the last quarter. 12.54% of the stock is currently owned by corporate insiders.

Institutional Trading of Transocean

A number of hedge funds have recently modified their holdings of RIG. Fruth Investment Management raised its position in Transocean by 2.8% during the fourth quarter. Fruth Investment Management now owns 90,378 shares of the offshore drilling services provider’s stock valued at $373,000 after acquiring an additional 2,500 shares in the last quarter. Annandale Capital LLC increased its holdings in shares of Transocean by 17.7% during the 4th quarter. Annandale Capital LLC now owns 16,600 shares of the offshore drilling services provider’s stock valued at $69,000 after purchasing an additional 2,500 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Transocean by 9.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 35,604 shares of the offshore drilling services provider’s stock valued at $114,000 after purchasing an additional 2,932 shares during the period. J.W. Cole Advisors Inc. boosted its holdings in Transocean by 3.5% during the third quarter. J.W. Cole Advisors Inc. now owns 100,634 shares of the offshore drilling services provider’s stock worth $314,000 after buying an additional 3,367 shares in the last quarter. Finally, Moors & Cabot Inc. grew its position in Transocean by 14.7% during the second quarter. Moors & Cabot Inc. now owns 27,350 shares of the offshore drilling services provider’s stock valued at $71,000 after buying an additional 3,500 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

About Transocean

Transocean Ltd. is a leading international provider of offshore contract drilling services for the oil and gas industry. The company specializes in the operation of mobile drilling units, including ultra-deepwater drillships, semisubmersible rigs and high-specification jackup rigs. Transocean’s fleet is designed to meet complex drilling requirements, from ultra-deepwater well construction to shelf exploration and development projects.

The company’s core services encompass the full spectrum of offshore drilling operations, including project and engineering management, marine operations, drilling supervision, and maintenance support.