Transocean (NYSE:RIG) Shares Gap Down to $5.23

Shares of Transocean Ltd. (NYSE:RIGGet Free Report) gapped down before the market opened on Friday . The stock had previously closed at $5.23, but opened at $5.08. Transocean shares last traded at $5.15, with a volume of 4,731,208 shares traded.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on RIG shares. Capital One Financial started coverage on Transocean in a research report on Tuesday, November 28th. They issued an “equal weight” rating and a $8.00 target price on the stock. Susquehanna cut their target price on Transocean from $9.00 to $7.50 and set a “neutral” rating on the stock in a research report on Wednesday, November 1st. StockNews.com raised Transocean to a “sell” rating in a research report on Wednesday, November 1st. Finally, Morgan Stanley increased their target price on Transocean from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 17th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Transocean currently has a consensus rating of “Hold” and a consensus price target of $8.80.

Read Our Latest Research Report on RIG

Transocean Stock Performance

The firm has a market capitalization of $4.17 billion, a PE ratio of -3.18 and a beta of 2.80. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.67 and a quick ratio of 1.32. The stock has a 50-day moving average price of $5.82 and a 200-day moving average price of $6.98.

Institutional Trading of Transocean

A number of hedge funds and other institutional investors have recently modified their holdings of the business. LaFleur & Godfrey LLC increased its position in shares of Transocean by 13.3% during the third quarter. LaFleur & Godfrey LLC now owns 15,300 shares of the offshore drilling services provider’s stock worth $126,000 after acquiring an additional 1,800 shares during the last quarter. Oppenheimer & Co. Inc. grew its stake in Transocean by 2.3% in the second quarter. Oppenheimer & Co. Inc. now owns 79,464 shares of the offshore drilling services provider’s stock worth $557,000 after purchasing an additional 1,818 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its stake in Transocean by 16.2% in the third quarter. B. Riley Wealth Advisors Inc. now owns 14,371 shares of the offshore drilling services provider’s stock worth $118,000 after purchasing an additional 2,000 shares in the last quarter. CWM LLC grew its stake in Transocean by 31.7% in the second quarter. CWM LLC now owns 8,883 shares of the offshore drilling services provider’s stock worth $62,000 after purchasing an additional 2,136 shares in the last quarter. Finally, 180 Wealth Advisors LLC grew its stake in Transocean by 7.4% in the fourth quarter. 180 Wealth Advisors LLC now owns 31,496 shares of the offshore drilling services provider’s stock worth $197,000 after purchasing an additional 2,170 shares in the last quarter. 66.70% of the stock is owned by hedge funds and other institutional investors.

About Transocean

(Get Free Report)

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts its mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. It serves integrated energy companies, government-owned or government-controlled energy companies, and other independent energy companies.

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