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

Transocean (NYSE:RIG)‘s stock had its “sell (d-)” rating restated by equities research analysts at Weiss Ratings in a report issued on Saturday,Weiss Ratings reports.

Several other research firms have also recently weighed in on RIG. Barclays increased their price target on shares of 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 upgraded 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 given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $4.26.

Transocean Stock Up 0.2%

Shares of NYSE RIG opened at $3.90 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63. The company has a 50-day moving average of $3.24 and a 200 day moving average of $2.87. The stock has a market cap of $3.67 billion, a PE ratio of -2.09 and a beta of 2.68. Transocean has a 12-month low of $1.97 and a 12-month high of $4.74.

Insider Transactions at Transocean

In other Transocean news, Director Frederik Wilhelm Mohn bought 4,000,000 shares of Transocean stock in a transaction dated Friday, September 26th. The stock was acquired at an average cost of $3.05 per share, with a total value of $12,200,000.00. Following the completion of the acquisition, the director owned 95,074,894 shares of the company’s stock, valued at approximately $289,978,426.70. This represents a 4.39% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director (Cyprus) Ltd Perestroika purchased 4,000,000 shares of the firm’s stock in a transaction that occurred on Friday, September 26th. The shares were bought at an average cost of $3.05 per share, with a total value of $12,200,000.00. Following the completion of the acquisition, the director 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 ownership of the stock. The disclosure for this purchase can be found here. 12.54% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Transocean

A number of hedge funds and other institutional investors have recently modified their holdings of RIG. Jump Financial LLC raised its stake in shares of Transocean by 156.2% during the 1st quarter. Jump Financial LLC now owns 1,489,600 shares of the offshore drilling services provider’s stock worth $4,722,000 after buying an additional 908,219 shares during the last quarter. Keybank National Association OH increased its position in Transocean by 14.2% during 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 purchasing an additional 1,672,958 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Transocean during the first quarter valued at about $688,000. Lane Generational LLC grew its stake in Transocean by 11.4% during the first quarter. Lane Generational LLC now owns 1,163,302 shares of the offshore drilling services provider’s stock worth $3,688,000 after buying an additional 118,673 shares during the period. Finally, Teacher Retirement System of Texas purchased a new stake in Transocean during the 1st quarter worth $380,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

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.