Transocean Ltd. (NYSE:RIG) was the target of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 65,773,473 shares, an increase of 18.6% from the January 13th total of 55,453,241 shares. Approximately 16.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 13,651,775 shares, the days-to-cover ratio is currently 4.8 days.

A number of institutional investors have recently modified their holdings of the company. Meag Munich Ergo Kapitalanlagegesellschaft MBH boosted its position in shares of Transocean by 14.8% in the second quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 923,333 shares of the offshore drilling services provider’s stock valued at $10,711,000 after buying an additional 119,025 shares in the last quarter. TD Asset Management Inc. boosted its position in shares of Transocean by 31.0% in the third quarter. TD Asset Management Inc. now owns 907,343 shares of the offshore drilling services provider’s stock valued at $9,672,000 after buying an additional 214,598 shares in the last quarter. BlackRock Advisors LLC boosted its position in shares of Transocean by 2.0% in the third quarter. BlackRock Advisors LLC now owns 144,849 shares of the offshore drilling services provider’s stock valued at $1,544,000 after buying an additional 2,829 shares in the last quarter. Commonwealth Bank of Australia boosted its position in shares of Transocean by 52.8% in the third quarter. Commonwealth Bank of Australia now owns 447,658 shares of the offshore drilling services provider’s stock valued at $4,771,000 after buying an additional 154,600 shares in the last quarter. Finally, Prudential Financial Inc. boosted its position in shares of Transocean by 166.2% in the third quarter. Prudential Financial Inc. now owns 1,205,229 shares of the offshore drilling services provider’s stock valued at $12,848,000 after buying an additional 752,509 shares in the last quarter. 63.84% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have recently weighed in on RIG shares. Vetr downgraded Transocean from a “strong-buy” rating to a “buy” rating and set a $14.89 target price for the company. in a research note on Thursday, December 1st. Credit Suisse Group raised Transocean from a “neutral” rating to an “outperform” rating and reduced their target price for the stock from $18.00 to $12.85 in a research note on Friday, February 3rd. Zacks Investment Research raised Transocean from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research note on Thursday, December 22nd. Royal Bank Of Canada downgraded Transocean from a “sector perform” rating to an “underperform” rating and upped their target price for the stock from $11.00 to $17.00 in a research note on Friday, December 16th. Finally, Capital One Financial Corporation raised Transocean from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, December 13th. Twelve equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Transocean presently has a consensus rating of “Hold” and an average target price of $13.29.

Transocean (NYSE:RIG) opened at 13.17 on Friday. The stock’s 50 day moving average price is $14.57 and its 200-day moving average price is $11.89. Transocean has a 12-month low of $7.66 and a 12-month high of $16.66. The stock has a market capitalization of $4.81 billion, a PE ratio of 4.16 and a beta of 1.87.

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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 primarily on a day rate basis to drill oil and gas wells. The Company operates through the contract drilling services segment.

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