Transocean (NYSE:RIG) Trading Down 4.4% – Time to Sell?

Transocean Ltd. (NYSE:RIG)’s share price was down 4.4% during trading on Thursday . The company traded as low as $4.08 and last traded at $4.09. Approximately 4,479,950 shares changed hands during trading, a decline of 82% from the average daily volume of 24,468,018 shares. The stock had previously closed at $4.28.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. TD Cowen lowered their price target on Transocean from $6.50 to $5.50 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. raised shares of Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 target price on the stock in a research note on Friday, December 6th. Evercore ISI cut shares of Transocean from an “outperform” rating to an “in-line” rating and reduced their target price for the company from $6.00 to $5.00 in a research report on Wednesday. Benchmark restated a “hold” rating on shares of Transocean in a research report on Tuesday, December 3rd. Finally, Susquehanna cut their price objective on shares of Transocean from $7.00 to $6.50 and set a “positive” rating for the company in a report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Transocean has an average rating of “Hold” and an average price target of $5.94.

Transocean Stock Down 4.3 %

The company has a debt-to-equity ratio of 0.64, a current ratio of 1.64 and a quick ratio of 1.34. The company has a market capitalization of $3.59 billion, a PE ratio of -5.46, a P/E/G ratio of 0.67 and a beta of 2.73. The business’s 50 day simple moving average is $4.05 and its 200 day simple moving average is $4.50.

Insider Transactions at Transocean

In related news, EVP Roderick James Mackenzie sold 22,000 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $4.05, for a total transaction of $89,100.00. Following the completion of the sale, the executive vice president now directly owns 229,596 shares of the company’s stock, valued at approximately $929,863.80. This trade represents a 8.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 13.16% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. raised its stake in shares of Transocean by 138.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,633 shares of the offshore drilling services provider’s stock valued at $25,000 after acquiring an additional 2,693 shares during the period. Orion Portfolio Solutions LLC purchased a new stake in Transocean in the third quarter valued at approximately $46,000. Atria Investments Inc acquired a new position in Transocean during the third quarter worth $51,000. Pallas Capital Advisors LLC boosted its position in shares of Transocean by 25.6% during the fourth quarter. Pallas Capital Advisors LLC now owns 15,332 shares of the offshore drilling services provider’s stock worth $57,000 after buying an additional 3,127 shares during the period. Finally, Abel Hall LLC acquired a new stake in shares of Transocean in the third quarter valued at $65,000. Hedge funds and other 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.