Transocean (NYSE:RIG) Stock Price Down 3.5% - What's Next?

Shares of Transocean Ltd. (NYSE:RIG - Get Free Report) fell 3.5% during trading on Monday . The stock traded as low as $3.19 and last traded at $3.21. 25,063,671 shares were traded during mid-day trading, a decline of 11% from the average session volume of 28,034,157 shares. The stock had previously closed at $3.32.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on RIG shares. Citigroup cut their target price on shares of Transocean from $4.50 to $3.50 and set a "neutral" rating for the company in a report on Wednesday, March 19th. Barclays lowered their price objective on shares of Transocean from $4.00 to $3.50 and set an "overweight" rating for the company in a research report on Monday, April 7th. Morgan Stanley dropped their target price on shares of Transocean from $4.00 to $3.50 and set an "equal weight" rating on the stock in a report on Friday, May 16th. SEB Equity Research set a $2.80 price target on shares of Transocean in a report on Wednesday, March 5th. Finally, BTIG Research set a $5.00 price objective on shares of Transocean and gave the company a "buy" rating in a research report on Monday, May 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $4.58.

Transocean Stock Performance

The stock has a market cap of $2.86 billion, a price-to-earnings ratio of -4.43, a PEG ratio of 0.86 and a beta of 2.54. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.47 and a quick ratio of 1.34. The firm has a fifty day moving average of $2.50 and a 200 day moving average of $3.18.

Transocean (NYSE:RIG - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The offshore drilling services provider reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.02. Transocean had a negative return on equity of 0.52% and a negative net margin of 14.53%. The business had revenue of $906.00 million for the quarter, compared to analyst estimates of $884.92 million. During the same quarter in the previous year, the firm earned ($0.03) EPS. The company's quarterly revenue was up 18.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Transocean Ltd. will post 0.14 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Roderick James Mackenzie sold 22,000 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $2.78, for a total value of $61,160.00. Following the sale, the executive vice president now directly owns 340,841 shares of the company's stock, valued at approximately $947,537.98. The trade was a 6.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.27% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Optiver Holding B.V. boosted its holdings in shares of Transocean by 53.6% in the fourth quarter. Optiver Holding B.V. now owns 8,400 shares of the offshore drilling services provider's stock valued at $32,000 after acquiring an additional 2,933 shares during the period. Van Den Berg Management I Inc. lifted its position in Transocean by 11.9% during the 4th quarter. Van Den Berg Management I Inc. now owns 28,155 shares of the offshore drilling services provider's stock worth $106,000 after acquiring an additional 3,000 shares during the period. Nomura Holdings Inc. increased its holdings in shares of Transocean by 11.6% in the fourth quarter. Nomura Holdings Inc. now owns 32,651 shares of the offshore drilling services provider's stock valued at $122,000 after purchasing an additional 3,390 shares during the period. Mercer Global Advisors Inc. ADV grew its position in Transocean by 23.5% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 19,015 shares of the offshore drilling services provider's stock valued at $71,000 after buying an additional 3,620 shares during the last quarter. Finally, Avantax Advisory Services Inc. raised its position in Transocean by 4.2% during the 4th quarter. Avantax Advisory Services Inc. now owns 107,012 shares of the offshore drilling services provider's stock worth $401,000 after buying an additional 4,285 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

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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