Transocean Ltd. (NYSE:RIG) saw some unusual options trading on Monday. Traders purchased 16,695 call options on the company. This represents an increase of 121% compared to the average volume of 7,543 call options.

Shares of Transocean (RIG) opened at 10.29 on Thursday. The firm’s market capitalization is $4.03 billion. Transocean has a 12 month low of $7.20 and a 12 month high of $16.66. The firm’s 50-day moving average price is $8.89 and its 200-day moving average price is $9.64.

In related news, CAO Howard E. Davis bought 40,000 shares of the business’s stock in a transaction on Thursday, August 17th. The shares were bought at an average cost of $7.32 per share, for a total transaction of $292,800.00. Following the completion of the purchase, the chief accounting officer now owns 21,793 shares of the company’s stock, valued at approximately $159,524.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.33% of the company’s stock.

Several hedge funds have recently bought and sold shares of RIG. Russell Investments Group Ltd. boosted its position in shares of Transocean by 230.6% during the first quarter. Russell Investments Group Ltd. now owns 196,778 shares of the offshore drilling services provider’s stock worth $2,452,000 after buying an additional 137,248 shares during the period. Wells Fargo & Company MN boosted its position in shares of Transocean by 21.6% during the first quarter. Wells Fargo & Company MN now owns 481,855 shares of the offshore drilling services provider’s stock worth $6,000,000 after buying an additional 85,486 shares during the period. Karp Capital Management Corp acquired a new position in shares of Transocean during the first quarter worth about $1,689,000. Sei Investments Co. boosted its position in shares of Transocean by 2.2% during the first quarter. Sei Investments Co. now owns 195,134 shares of the offshore drilling services provider’s stock worth $2,430,000 after buying an additional 4,293 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Transocean by 29.4% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 28,877 shares of the offshore drilling services provider’s stock worth $360,000 after buying an additional 6,561 shares during the period. 67.81% of the stock is owned by institutional investors.

A number of equities research analysts have issued reports on the company. Zacks Investment Research upgraded Transocean from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research note on Tuesday. Nordea Equity Research reissued a “buy” rating and set a $14.00 price target on shares of Transocean in a report on Saturday, September 30th. UBS AG raised Transocean from a “neutral” rating to a “buy” rating and raised their price target for the company from $9.00 to $15.00 in a report on Monday, September 25th. Jefferies Group LLC reissued a “hold” rating and set a $9.00 price target on shares of Transocean in a report on Friday, September 22nd. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $11.00 price target on shares of Transocean in a report on Friday, September 1st. Ten equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $12.41.

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About Transocean

Transocean Ltd. is an international provider of offshore contract drilling services for oil and gas wells. The Company’s primary business is to contract its drilling rigs, related equipment and work crews on a dayrate basis to drill oil and gas wells. As of February 9, 2017, it owned or had partial ownership interests in and operated 56 mobile offshore drilling units.

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