Investors Purchase Large Volume of Transocean Call Options (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 recipient of unusually large options trading on Monday. Stock traders acquired 25,829 call options on the stock. Thisrepresentsanincreaseof108% compared to the typical volume of 12,446 call options.

Wall Street Analyst Weigh In

RIG has been the subject of a number of research reports. Wall Street Zen upgraded Transocean from a "sell" rating to a "hold" rating in a research note on Sunday, August 10th. BTIG Research set a $5.00 price target on Transocean and gave the stock a "buy" rating in a report on Monday, May 5th. Morgan Stanley decreased their price target on Transocean from $4.00 to $3.50 and set an "equal weight" rating for the company in a report on Friday, May 16th. Finally, Barclays raised their target price on Transocean from $3.50 to $4.00 and gave the company an "overweight" rating in a research note on Wednesday, August 13th. Four research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $4.26.

Institutional Investors Weigh In On Transocean

A number of hedge funds have recently modified their holdings of the stock. Josh Arnold Investment Consultant LLC bought a new stake in Transocean during the 2nd quarter valued at $26,000. Blume Capital Management Inc. grew its position in shares of Transocean by 125.9% during the 2nd quarter. Blume Capital Management Inc. now owns 10,560 shares of the offshore drilling services provider's stock valued at $27,000 after purchasing an additional 5,885 shares in the last quarter. Blueshift Asset Management LLC purchased a new position in Transocean in the second quarter worth $27,000. Parallel Advisors LLC grew its position in Transocean by 154.8% in the first quarter. Parallel Advisors LLC now owns 8,810 shares of the offshore drilling services provider's stock worth $28,000 after acquiring an additional 5,353 shares in the last quarter. Finally, Verum Partners LLC purchased a new position in Transocean in the second quarter worth $28,000. Institutional investors own 67.73% of the company's stock.

Transocean Stock Performance

Shares of NYSE:RIG traded down $0.06 during mid-day trading on Friday, reaching $3.04. The company had a trading volume of 24,464,050 shares, compared to its average volume of 22,341,536. The company has a current ratio of 1.26, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63. The firm has a market cap of $2.87 billion, a price-to-earnings ratio of -1.63, a PEG ratio of 6.63 and a beta of 2.52. The company's 50-day moving average price is $2.87 and its 200-day moving average price is $2.81. Transocean has a one year low of $1.97 and a one year high of $4.87.

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.