Transocean (NYSE:RIG) Stock Price Down 1.8% – What’s Next?

17 Jan 2025, 14:42 by Amy Steele · The Cerbat Gem

Transocean Ltd. (NYSE:RIG – Get Free Report)’s stock price fell 1.8% during trading on Friday . The stock traded as low as $4.02 and last traded at $4.03. 5,162,125 shares were traded during trading, a decline of 79% from the average session volume of 24,660,520 shares. The stock had previously closed at $4.10.

Wall Street Analyst Weigh In

RIG has been the topic of several research reports. Morgan Stanley raised their target price on Transocean from $5.00 to $6.00 and gave the company an “equal weight” rating in a research report on Thursday, October 3rd. Susquehanna dropped their target price on shares of Transocean from $7.00 to $6.50 and set a “positive” rating for the company in a report on Friday, November 1st. JPMorgan Chase & Co. raised shares of Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 price target on the stock in a research note on Friday, December 6th. Evercore ISI cut shares of Transocean from an “outperform” rating to an “in-line” rating and dropped their price objective for the company from $6.00 to $5.00 in a research note on Wednesday. Finally, Benchmark reiterated a “hold” rating on shares of Transocean in a report on Tuesday, December 3rd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Transocean currently has a consensus rating of “Hold” and an average price target of $5.94.

Check Out Our Latest Analysis on RIG

Transocean Trading Down 1.8 %

The company has a 50 day moving average price of $4.04 and a 200 day moving average price of $4.50. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.34 and a current ratio of 1.64. The firm has a market cap of $3.53 billion, a price-to-earnings ratio of -5.37, a price-to-earnings-growth ratio of 0.67 and a beta of 2.73.

Insider Buying and Selling at Transocean

In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $4.05, for a total value of $89,100.00. Following the sale, the executive vice president now owns 229,596 shares of the company’s stock, valued at $929,863.80. The trade was a 8.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 12.54% of the company’s stock.

Institutional Investors Weigh In On Transocean

Several institutional investors and hedge funds have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. grew its position in Transocean by 138.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,633 shares of the offshore drilling services provider’s stock valued at $25,000 after acquiring an additional 2,693 shares in the last quarter. Orion Portfolio Solutions LLC acquired a new position in shares of Transocean in the third quarter valued at approximately $46,000. Atria Investments Inc purchased a new stake in Transocean during the 3rd quarter worth approximately $51,000. Pallas Capital Advisors LLC boosted its position in Transocean by 25.6% in the 4th quarter. Pallas Capital Advisors LLC now owns 15,332 shares of the offshore drilling services provider’s stock valued at $57,000 after buying an additional 3,127 shares during the period. Finally, Abel Hall LLC acquired a new position in shares of Transocean in the third quarter worth $65,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

About Transocean

(Get Free Report)