Weiss Ratings Reaffirms “Sell (D-)” Rating for Transocean (NYSE:RIG)

Transocean (NYSE:RIG)‘s stock had its “sell (d-)” rating reiterated by research analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Several other equities research analysts have also recently weighed in on RIG. Barclays increased their price target on Transocean from $3.50 to $4.00 and gave the company an “overweight” rating in a research note on Wednesday, August 13th. Wall Street Zen raised Transocean from a “sell” rating to a “hold” rating in a research note on Sunday, August 10th. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $4.26.

Transocean Trading Down 1.4%

Shares of RIG stock opened at $3.41 on Wednesday. The stock has a market cap of $3.22 billion, a price-to-earnings ratio of -1.83, a PEG ratio of 6.66 and a beta of 2.68. The stock has a 50-day moving average of $3.14 and a 200-day moving average of $2.83. The company has a current ratio of 1.26, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63. Transocean has a 1-year low of $1.97 and a 1-year high of $4.74.

Insider Activity at Transocean

In other Transocean news, Director Frederik Wilhelm Mohn bought 4,000,000 shares of the firm’s stock in a transaction that occurred on Friday, September 26th. The stock was acquired at an average price of $3.05 per share, with a total value of $12,200,000.00. Following the completion of the purchase, the director directly owned 95,074,894 shares of the company’s stock, valued at approximately $289,978,426.70. This trade represents a 4.39% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director (Cyprus) Ltd Perestroika bought 4,000,000 shares of the firm’s stock in a transaction that occurred on Friday, September 26th. The shares were acquired at an average cost of $3.05 per share, with a total value of $12,200,000.00. Following the purchase, the director directly owned 95,074,894 shares of the company’s stock, valued at $289,978,426.70. This trade represents a 4.39% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 12.27% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jump Financial LLC boosted its holdings in Transocean by 156.2% in the first quarter. Jump Financial LLC now owns 1,489,600 shares of the offshore drilling services provider’s stock worth $4,722,000 after acquiring an additional 908,219 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Transocean by 3,039.6% in the first quarter. SG Americas Securities LLC now owns 930,599 shares of the offshore drilling services provider’s stock worth $2,950,000 after acquiring an additional 900,958 shares in the last quarter. Keybank National Association OH boosted its holdings in Transocean by 14.2% in the first quarter. Keybank National Association OH now owns 13,480,351 shares of the offshore drilling services provider’s stock worth $42,733,000 after acquiring an additional 1,672,958 shares in the last quarter. Exchange Traded Concepts LLC boosted its holdings in Transocean by 594.6% in the first quarter. Exchange Traded Concepts LLC now owns 221,615 shares of the offshore drilling services provider’s stock worth $703,000 after acquiring an additional 189,708 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in Transocean in the first quarter worth approximately $688,000. Institutional investors 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.