Transocean (NYSE:RIG) Reaches New 1-Year High – Should You Buy?

Transocean Ltd. (NYSE:RIG) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $5.01 and last traded at $4.90, with a volume of 35950661 shares changing hands. The stock had previously closed at $4.83.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on RIG shares. Susquehanna increased their target price on shares of Transocean from $4.50 to $5.00 and gave the stock a “positive” rating in a research note on Wednesday, January 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Transocean in a report on Thursday. Morgan Stanley set a $4.50 price objective on shares of Transocean in a research report on Monday, December 15th. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Transocean in a research report on Wednesday, December 10th. Finally, Barclays raised their price target on Transocean from $4.00 to $4.50 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $4.38.

Transocean Stock Up 1.4%

The business has a 50-day moving average price of $4.23 and a two-hundred day moving average price of $3.61. The company has a quick ratio of 0.91, a current ratio of 1.08 and a debt-to-equity ratio of 0.60. The firm has a market cap of $5.40 billion, a PE ratio of -1.49 and a beta of 1.36.

Transocean (NYSE:RIG) last issued its quarterly earnings results on Wednesday, October 29th. The offshore drilling services provider reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.02. The company had revenue of ($1,894.00) million for the quarter, compared to the consensus estimate of $1.01 billion. Transocean had a positive return on equity of 0.45% and a negative net margin of 75.71%.The company’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, equities research analysts expect that Transocean Ltd. will post 0.14 EPS for the current year.

Insider Transactions at Transocean

In related news, insider Jeremy D. Thigpen sold 500,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $4.32, for a total value of $2,160,000.00. Following the sale, the insider owned 2,136,223 shares of the company’s stock, valued at $9,228,483.36. This trade represents a 18.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert Thaddeus Vayda sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $4.29, for a total transaction of $128,700.00. Following the transaction, the executive vice president owned 235,154 shares of the company’s stock, valued at $1,008,810.66. This trade represents a 11.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 685,206 shares of company stock valued at $2,952,015 over the last quarter. Insiders own 12.54% of the company’s stock.

Hedge Funds Weigh In On Transocean

Large investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC lifted its holdings in Transocean by 12.1% during the 1st quarter. Integrated Wealth Concepts LLC now owns 69,637 shares of the offshore drilling services provider’s stock worth $221,000 after buying an additional 7,520 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Transocean by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 434,031 shares of the offshore drilling services provider’s stock valued at $1,376,000 after acquiring an additional 18,957 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Transocean by 88.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 12,151,817 shares of the offshore drilling services provider’s stock worth $38,521,000 after acquiring an additional 5,719,637 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Transocean by 287.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 45,845 shares of the offshore drilling services provider’s stock worth $127,000 after purchasing an additional 34,008 shares during the last quarter. Finally, Signaturefd LLC boosted its holdings in Transocean by 70.8% in the second quarter. Signaturefd LLC now owns 35,135 shares of the offshore drilling services provider’s stock valued at $91,000 after purchasing an additional 14,566 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

About Transocean

Transocean Ltd. is a leading international provider of offshore contract drilling services for the oil and gas industry. The company specializes in the operation of mobile drilling units, including ultra-deepwater drillships, semisubmersible rigs and high-specification jackup rigs. Transocean’s fleet is designed to meet complex drilling requirements, from ultra-deepwater well construction to shelf exploration and development projects.

The company’s core services encompass the full spectrum of offshore drilling operations, including project and engineering management, marine operations, drilling supervision, and maintenance support.