Transocean Ltd. (NYSE:RIG) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Transocean Ltd. receives an average recommendation of "Hold" from analysts, with one sell, six hold, and three buy ratings, and a twelve-month target price of $4.26.
• Director Frederik Wilhelm Mohn recently acquired 4 million shares at $3.05 each, increasing his stake by 4.39% to nearly 95 million shares total.
• Institutional investors hold 67.73% of Transocean's stock, with several firms recently increasing their positions or purchasing new stakes.

Shares of Transocean Ltd. (NYSE:RIG - Get Free Report) have received an average recommendation of "Hold" from the ten ratings firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $4.2556.

A number of research firms have recently commented on RIG. Weiss Ratings reissued a "sell (d-)" rating on shares of Transocean in a research note on Wednesday. Wall Street Zen raised Transocean from a "sell" rating to a "hold" rating in a research note on Sunday, August 10th. Finally, Barclays increased their target price on Transocean from $3.50 to $4.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 13th.

Insiders Place Their Bets

In other Transocean news, Director Frederik Wilhelm Mohn acquired 4,000,000 shares of the company'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 transaction, the director directly 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director (Cyprus) Ltd Perestroika acquired 4,000,000 shares of the company's stock in a transaction that occurred on Friday, September 26th. The shares were acquired at an average cost of $3.05 per share, for a total transaction of $12,200,000.00. Following the completion of the transaction, the director directly owned 95,074,894 shares of the company's stock, valued at $289,978,426.70. The trade was a 4.39% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 12.27% of the company's stock.

Institutional Investors Weigh In On Transocean

Institutional investors have recently modified their holdings of the business. Josh Arnold Investment Consultant LLC purchased a new stake in shares of Transocean during the second quarter valued at $26,000. Blume Capital Management Inc. boosted its position in shares of Transocean by 125.9% during the second quarter. Blume Capital Management Inc. now owns 10,560 shares of the offshore drilling services provider's stock valued at $27,000 after buying an additional 5,885 shares during the last quarter. Blueshift Asset Management LLC purchased a new stake in shares of Transocean during the second quarter valued at $27,000. Verum Partners LLC bought a new position in Transocean in the second quarter valued at about $28,000. Finally, Stockman Wealth Management Inc. bought a new position in Transocean in the second quarter valued at about $28,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Transocean Trading Down 2.1%

NYSE RIG opened at $3.33 on Friday. Transocean has a 12 month low of $1.97 and a 12 month high of $4.74. The stock has a market cap of $3.14 billion, a P/E ratio of -1.79, a P/E/G ratio of 6.54 and a beta of 2.68. The stock's fifty day moving average price is $3.15 and its 200-day moving average price is $2.83. The company has a current ratio of 1.26, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.