Transocean’s (RIG) Equal Weight Rating Reaffirmed at Barclays

Barclays restated their equal weight rating on shares of Transocean (NYSE:RIG) in a research report sent to investors on Wednesday, Marketbeat.com reports. They currently have a $6.00 price objective on the offshore drilling services provider’s stock, up from their prior price objective of $4.50.

A number of other equities analysts have also commented on RIG. Citigroup increased their price target on shares of Transocean from $4.25 to $4.50 and gave the stock a “neutral” rating in a report on Thursday, December 11th. BTIG Research lifted their price target on Transocean from $6.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday, February 9th. Morgan Stanley set a $4.50 price objective on Transocean in a report on Monday, December 15th. Fearnley Fonds cut Transocean from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 10th. Finally, Pareto Securities lowered shares of Transocean from a “hold” rating to a “sell” rating and set a $5.25 price objective for the company. in a report on Tuesday, February 10th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $5.44.

Transocean Stock Performance

Shares of RIG opened at $6.22 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 0.91 and a debt-to-equity ratio of 0.60. The stock has a 50-day moving average price of $4.66 and a 200-day moving average price of $3.92. The company has a market cap of $6.85 billion, a PE ratio of -1.89 and a beta of 1.46. Transocean has a 12-month low of $1.97 and a 12-month high of $6.57.

Insider Activity

In other news, EVP Robert Thaddeus Vayda sold 30,000 shares of the stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $4.29, for a total transaction of $128,700.00. Following the completion of the sale, the executive vice president directly owned 235,154 shares in the company, valued at approximately $1,008,810.66. This represents a 11.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Perestroika purchased 1,500,000 shares of Transocean stock in a transaction that occurred on Monday, November 24th. The shares were acquired at an average price of $4.02 per share, for a total transaction of $6,030,000.00. Following the acquisition, the director owned 96,574,894 shares in the company, valued at $388,231,073.88. This trade represents a 1.58% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have sold 712,970 shares of company stock valued at $3,152,132. Corporate insiders own 12.27% of the company’s stock.

Hedge Funds Weigh In On Transocean

Several hedge funds have recently made changes to their positions in the business. TD Waterhouse Canada Inc. lifted its stake in Transocean by 22,432.1% in the fourth quarter. TD Waterhouse Canada Inc. now owns 6,309 shares of the offshore drilling services provider’s stock worth $26,000 after acquiring an additional 6,281 shares during the period. Josh Arnold Investment Consultant LLC bought a new position in Transocean in the 2nd quarter worth $26,000. Blume Capital Management Inc. lifted its position in shares of Transocean by 125.9% in the 2nd quarter. Blume Capital Management Inc. now owns 10,560 shares of the offshore drilling services provider’s stock worth $27,000 after purchasing an additional 5,885 shares during the period. Blueshift Asset Management LLC bought a new position in Transocean in the second quarter worth about $27,000. Finally, Flagship Harbor Advisors LLC bought a new position in Transocean in the fourth quarter worth about $27,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Transocean Company Profile

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.