Transocean Ltd. (NYSE:RIG) Given Average Rating of "Hold" by Brokerages

Key Points

• Transocean Ltd. (NYSE:RIG) has an average rating of "Hold" from ten research firms, with six holding and four buying recommendations.
• The average 12-month price target for Transocean among analysts is $4.2556, with recent adjustments including Morgan Stanley lowering its target to $3.50.
• Institutional investors have shown significant interest, with hedge funds owning 67.73% of Transocean stock and certain firms increasing their holdings substantially during the last quarter.

Shares of Transocean Ltd. (NYSE:RIG - Get Free Report) have been given an average rating of "Hold" by the ten research firms that are presently covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $4.2556.

Several brokerages have weighed in on RIG. Morgan Stanley reduced their price objective on Transocean from $4.00 to $3.50 and set an "equal weight" rating on the stock in a research note on Friday, May 16th. Wall Street Zen upgraded Transocean from a "sell" rating to a "hold" rating in a report on Sunday, August 10th. BTIG Research set a $5.00 target price on Transocean and gave the company a "buy" rating in a research report on Monday, May 5th. Finally, Barclays increased their price target on Transocean from $3.50 to $4.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 13th.

Transocean Price Performance

Shares of Transocean stock opened at $2.7870 on Thursday. Transocean has a 52 week low of $1.97 and a 52 week high of $5.11. The company has a quick ratio of 0.99, a current ratio of 1.26 and a debt-to-equity ratio of 0.63. The stock's 50-day simple moving average is $2.88 and its 200-day simple moving average is $2.85. The company has a market capitalization of $2.63 billion, a price-to-earnings ratio of -1.50, a PEG ratio of 6.07 and a beta of 2.52.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new position in Transocean in the 4th quarter worth approximately $893,000. Sterling Capital Management LLC increased its holdings in shares of Transocean by 818.5% during the 4th quarter. Sterling Capital Management LLC now owns 22,982 shares of the offshore drilling services provider's stock worth $86,000 after buying an additional 20,480 shares during the last quarter. Townsquare Capital LLC acquired a new stake in shares of Transocean during the 4th quarter worth approximately $43,000. Mariner LLC increased its holdings in shares of Transocean by 46.2% during the 4th quarter. Mariner LLC now owns 140,817 shares of the offshore drilling services provider's stock worth $528,000 after buying an additional 44,527 shares during the last quarter. Finally, Guggenheim Capital LLC increased its holdings in shares of Transocean by 30.3% during the 4th quarter. Guggenheim Capital LLC now owns 158,405 shares of the offshore drilling services provider's stock worth $594,000 after buying an additional 36,874 shares during the last quarter. 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.

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