Transocean (NYSE:RIG) Stock Rating Upgraded by Wall Street Zen

Key Points

• Transocean's stock rating was upgraded from a "sell" to a "hold" by analysts at Wall Street Zen.
• The company's current average stock price target stands at $4.20, with multiple analysts providing various ratings, including seven with a hold and four with a buy rating.
• Shares of Transocean increased by 4.7%, bringing the share price to $3.09 as of the latest trading session.

Transocean (NYSE:RIG - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Sunday.

RIG has been the subject of a number of other research reports. Morgan Stanley cut their target price on shares of Transocean from $4.00 to $3.50 and set an "equal weight" rating for the company in a research report on Friday, May 16th. Susquehanna cut their target price on shares of Transocean from $5.00 to $4.00 and set a "positive" rating for the company in a research report on Monday, April 14th. Finally, BTIG Research set a $5.00 target price on shares of Transocean and gave the stock a "buy" rating in a research report on Monday, May 5th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Transocean presently has an average rating of "Hold" and a consensus price target of $4.20.

Transocean Stock Up 4.7%

Shares of NYSE:RIG opened at $3.09 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.06 and a current ratio of 1.26. The company has a market cap of $2.91 billion, a PE ratio of -1.66, a price-to-earnings-growth ratio of 6.63 and a beta of 2.52. Transocean has a 52 week low of $1.97 and a 52 week high of $5.32. The firm has a 50 day simple moving average of $2.86 and a 200 day simple moving average of $2.89.

Insider Activity at Transocean

In other news, EVP Roderick James Mackenzie sold 22,000 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $2.78, for a total transaction of $61,160.00. Following the transaction, the executive vice president owned 340,841 shares in the company, valued at $947,537.98. This represents a 6.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 12.27% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Intech Investment Management LLC grew its stake in Transocean by 7.1% in the 2nd quarter. Intech Investment Management LLC now owns 347,966 shares of the offshore drilling services provider's stock valued at $901,000 after buying an additional 23,087 shares during the last quarter. Cetera Investment Advisers grew its stake in Transocean by 5.7% in the 2nd quarter. Cetera Investment Advisers now owns 233,984 shares of the offshore drilling services provider's stock valued at $606,000 after buying an additional 12,532 shares during the last quarter. Cedar Wealth Management LLC grew its stake in Transocean by 52.6% in the 2nd quarter. Cedar Wealth Management LLC now owns 190,028 shares of the offshore drilling services provider's stock valued at $492,000 after buying an additional 65,486 shares during the last quarter. Creative Planning grew its stake in Transocean by 89.6% in the 2nd quarter. Creative Planning now owns 1,072,043 shares of the offshore drilling services provider's stock valued at $2,777,000 after buying an additional 506,624 shares during the last quarter. Finally, Smithfield Trust Co grew its position in Transocean by 1,572.2% in the 2nd quarter. Smithfield Trust Co now owns 25,283 shares of the offshore drilling services provider's stock worth $66,000 after purchasing an additional 23,771 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

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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