Transocean (NYSE:RIG) Sets New 52-Week Low at $3.91

Transocean Ltd. (NYSE:RIG)’s stock price reached a new 52-week low on Tuesday . The stock traded as low as $3.91 and last traded at $3.91, with a volume of 5240899 shares trading hands. The stock had previously closed at $4.16.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. StockNews.com raised Transocean to a “sell” rating in a research note on Monday, August 5th. Benchmark restated a “buy” rating and set a $8.00 price objective on shares of Transocean in a research report on Friday, August 2nd. Finally, DNB Markets upgraded Transocean from a “hold” rating to a “buy” rating in a research report on Tuesday, September 3rd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $7.25.

Transocean Stock Up 3.2 %

The company has a fifty day moving average price of $5.06 and a 200 day moving average price of $5.47. The company has a current ratio of 1.36, a quick ratio of 1.08 and a debt-to-equity ratio of 0.63.

Transocean (NYSE:RIG) last released its quarterly earnings data on Wednesday, July 31st. The offshore drilling services provider reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.07). The firm had revenue of $861.00 million for the quarter, compared to the consensus estimate of $862.25 million. Transocean had a negative net margin of 11.34% and a negative return on equity of 4.76%. The company’s revenue was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.15) EPS. On average, equities analysts anticipate that Transocean Ltd. will post -0.19 earnings per share for the current fiscal year.

Insider Activity at Transocean

In related news, Director (Cyprus) Ltd Perestroika bought 2,000,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were bought at an average price of $5.23 per share, with a total value of $10,460,000.00. Following the completion of the transaction, the director now directly owns 89,574,894 shares in the company, valued at $468,476,695.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 13.16% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of RIG. OLD Point Trust & Financial Services N A purchased a new position in Transocean in the fourth quarter worth $25,000. Northwestern Mutual Wealth Management Co. boosted its position in Transocean by 138.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,633 shares of the offshore drilling services provider’s stock worth $25,000 after purchasing an additional 2,693 shares during the last quarter. Nisa Investment Advisors LLC bought a new stake in shares of Transocean in the second quarter valued at $30,000. Fiducient Advisors LLC bought a new stake in shares of Transocean in the first quarter valued at $63,000. Finally, SG Americas Securities LLC bought a new stake in shares of Transocean in the second quarter valued at $64,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

About Transocean

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. The company operates a fleet of mobile offshore drilling units, consisting of ultra-deepwater floaters and harsh environment floaters.