Transocean Sees Unusually High Options Volume (NYSE:RIG)

Key Points

• Transocean Ltd. experienced a **108% increase** in call options trading volume, with **25,829 options** bought on Monday compared to the usual daily volume of **12,446**.
• Several analysts have rated Transocean's stock, with Morgan Stanley lowering their price target to **$3.50** while Barclays raised it to **$4.00**, resulting in a consensus rating of **"Hold"** and an average target price of **$4.26**.
• The stock price increased by **2.1%** to **$3.1050**, with a market capitalization of **$2.93 billion** and strong institutional interest, with **67.73%** of shares owned by institutional investors.

Transocean Ltd. (NYSE:RIG - Get Free Report) was the target of unusually large options trading on Monday. Stock traders bought 25,829 call options on the company. Thisrepresentsanincreaseof108% compared to the typical daily volume of 12,446 call options.

Analyst Upgrades and Downgrades

RIG has been the topic of a number of research analyst reports. Morgan Stanley decreased their price target on Transocean from $4.00 to $3.50 and set an "equal weight" rating on the stock in a research report on Friday, May 16th. Wall Street Zen upgraded Transocean from a "sell" rating to a "hold" rating in a research report on Sunday, August 10th. 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. Finally, BTIG Research set a $5.00 price target on Transocean and gave the stock a "buy" rating in a research report on Monday, May 5th. Four equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $4.26.

Transocean Trading Up 2.1%

RIG traded up $0.0650 during mid-day trading on Monday, reaching $3.1050. The stock had a trading volume of 7,951,891 shares, compared to its average volume of 35,700,375. The stock has a market capitalization of $2.93 billion, a P/E ratio of -1.67, a P/E/G ratio of 6.50 and a beta of 2.52. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 1.26. The firm's fifty day simple moving average is $2.87 and its two-hundred day simple moving average is $2.82. Transocean has a 52 week low of $1.97 and a 52 week high of $5.11.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its position in shares of Transocean by 1.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 40,660,439 shares of the offshore drilling services provider's stock worth $128,894,000 after purchasing an additional 651,843 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Transocean by 9.8% in the 2nd quarter. American Century Companies Inc. now owns 23,449,768 shares of the offshore drilling services provider's stock worth $60,735,000 after purchasing an additional 2,101,673 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Transocean by 1.8% in the 2nd quarter. Geode Capital Management LLC now owns 18,095,187 shares of the offshore drilling services provider's stock worth $46,873,000 after purchasing an additional 313,670 shares during the last quarter. Keybank National Association OH boosted its position in shares of Transocean by 14.2% in the 1st quarter. Keybank National Association OH now owns 13,480,351 shares of the offshore drilling services provider's stock worth $42,733,000 after purchasing an additional 1,672,958 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Transocean by 88.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 12,151,817 shares of the offshore drilling services provider's stock worth $38,521,000 after purchasing an additional 5,719,637 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.

Transocean Company Profile

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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