Transocean LTD (RIG) Short Interest Update

Transocean LTD (NYSE:RIG) was the target of a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 87,203,557 shares, a growth of 6.5% from the January 12th total of 81,852,163 shares. Approximately 24.3% of the shares of the company are sold short. Based on an average daily volume of 13,190,319 shares, the days-to-cover ratio is currently 6.6 days.

RIG has been the topic of a number of analyst reports. ValuEngine cut shares of Transocean from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. Zacks Investment Research cut shares of Transocean from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. initiated coverage on shares of Transocean in a research note on Thursday, October 19th. They set a “hold” rating and a $12.00 price objective on the stock. Cowen set a $8.00 price objective on shares of Transocean and gave the stock a “hold” rating in a research note on Wednesday, October 18th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $7.35 price objective on shares of Transocean in a research note on Sunday, October 22nd. Eleven research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $12.11.

Shares of Transocean (NYSE:RIG) opened at $9.51 on Tuesday. Transocean has a one year low of $7.20 and a one year high of $14.33. The stock has a market cap of $3,720.00, a price-to-earnings ratio of -1.33 and a beta of 1.55. The company has a quick ratio of 2.13, a current ratio of 2.36 and a debt-to-equity ratio of 0.51.

Institutional investors have recently added to or reduced their stakes in the stock. Advisors Preferred LLC boosted its stake in Transocean by 1,198.9% during the 4th quarter. Advisors Preferred LLC now owns 9,508 shares of the offshore drilling services provider’s stock worth $102,000 after purchasing an additional 8,776 shares during the last quarter. Princeton Capital Management LLC acquired a new stake in Transocean during the 4th quarter worth $107,000. Dumont & Blake Investment Advisors LLC acquired a new stake in Transocean during the 3rd quarter worth $108,000. Suntrust Banks Inc. acquired a new stake in Transocean during the 4th quarter worth $112,000. Finally, Saratoga Research & Investment Management acquired a new stake in Transocean during the 3rd quarter worth $115,000. 74.78% of the stock is currently owned by hedge funds and other institutional investors.

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Transocean Company Profile

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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