Transocean (NYSE:RIG) Trading Down 4.4% – Should You Sell?

Transocean Ltd. (NYSE:RIG)’s share price fell 4.4% on Thursday . The stock traded as low as $4.08 and last traded at $4.09. 4,479,950 shares were traded during mid-day trading, a decline of 82% from the average session volume of 24,468,018 shares. The stock had previously closed at $4.28.

Analysts Set New Price Targets

Several research firms recently weighed in on RIG. Susquehanna dropped their target price 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. JPMorgan Chase & Co. upgraded shares of Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 target price for the company in a report on Friday, December 6th. StockNews.com upgraded shares of Transocean to a “sell” rating in a report on Tuesday, November 12th. Barclays upgraded shares of Transocean from an “equal weight” rating to an “overweight” rating and set a $4.50 target price for the company in a report on Wednesday, December 18th. Finally, Benchmark reissued a “hold” rating on shares of Transocean in a research report on Tuesday, December 3rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $5.94.

Transocean Trading Down 1.1 %

The firm has a market capitalization of $3.55 billion, a PE ratio of -5.41, a PEG ratio of 0.67 and a beta of 2.73. The company’s 50-day moving average price is $4.03 and its 200-day moving average price is $4.49. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.34 and a current ratio of 1.64.

Insider Transactions at Transocean

In other news, EVP Roderick James Mackenzie sold 22,000 shares of Transocean stock in a transaction on Friday, January 10th. The shares were 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. The trade was a 8.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 12.54% of the company’s stock.

Institutional Investors Weigh In On Transocean

Institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its position in Transocean by 4.1% in the third quarter. Geode Capital Management LLC now owns 17,245,298 shares of the offshore drilling services provider’s stock valued at $73,307,000 after acquiring an additional 680,242 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Transocean by 7.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 11,606,320 shares of the offshore drilling services provider’s stock valued at $49,327,000 after acquiring an additional 826,229 shares during the last quarter. Barclays PLC lifted its position in Transocean by 60.1% in the third quarter. Barclays PLC now owns 1,623,924 shares of the offshore drilling services provider’s stock valued at $6,902,000 after acquiring an additional 609,681 shares during the last quarter. International Assets Investment Management LLC increased its stake in Transocean by 335.3% in the third quarter. International Assets Investment Management LLC now owns 196,699 shares of the offshore drilling services provider’s stock valued at $836,000 after purchasing an additional 151,507 shares during the period. Finally, MetLife Investment Management LLC increased its stake in Transocean by 125.9% in the third quarter. MetLife Investment Management LLC now owns 415,031 shares of the offshore drilling services provider’s stock valued at $1,764,000 after purchasing an additional 231,334 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

About Transocean

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.