Transocean (NYSE:RIG) Shares Gap Down - What's Next?

Transocean Ltd. (NYSE:RIG - Get Free Report)'s stock price gapped down before the market opened on Thursday . The stock had previously closed at $3.64, but opened at $3.06. Transocean shares last traded at $3.16, with a volume of 69,527,783 shares changing hands.Analysts Set New Price Targets3 Stocks You Want to Keep in Case Oil RalliesSeveral equities analysts have recently weighed in on the company. Wall Street Zen upgraded Transocean from a "sell" rating to a "hold" rating in a report on Sunday, August 10th. Barclays raised their price target on Transocean from $3.50 to $4.00 and gave the company an "overweight" rating in a report on Wednesday, August 13th. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $4.26.View Our Latest Analysis on TransoceanTransocean Price PerformanceOil Shorts Are Crowded, 3 Names That Could Bring on a SqueezeThe firm has a fifty day moving average of $3.06 and a 200 day moving average of $2.82. The company has a market capitalization of $3.01 billion, a P/E ratio of -1.71, a P/E/G ratio of 6.81 and a beta of 2.79. The company has a current ratio of 1.26, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63. Institutional Investors Weigh In On TransoceanSeveral large investors have recently bought and sold shares of RIG. Dimensional Fund Advisors LP boosted its position in Transocean by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 40,660,439 shares of the offshore drilling services provider's stock worth $128,894,000 after purchasing an additional 651,843 shares during the last quarter. American Century Companies Inc. boosted its position in Transocean by 9.8% in the second quarter. American Century Companies Inc. now owns 23,449,768 shares of the offshore drilling services provider's stock worth $60,735,000 after purchasing an additional 2,101,673 shares during the last quarter. Geode Capital Management LLC boosted its position in Transocean by 1.8% in the second quarter. Geode Capital Management LLC now owns 18,095,187 shares of the offshore drilling services provider's stock worth $46,873,000 after purchasing an additional 313,670 shares during the last quarter. Keybank National Association OH boosted its position in Transocean by 14.2% in the first quarter. Keybank National Association OH now owns 13,480,351 shares of the offshore drilling services provider's stock worth $42,733,000 after purchasing an additional 1,672,958 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Transocean by 88.9% in the first quarter. Goldman Sachs Group Inc. now owns 12,151,817 shares of the offshore drilling services provider's stock worth $38,521,000 after purchasing an additional 5,719,637 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors. About Transocean (Get Free Report)3 Stocks to Consider as Tension Builds in Energy MarketsTransocean 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.See AlsoFive stocks we like better than TransoceanCanada Bond Market Holiday: How to Invest and Trade Micron’s Stock Price Rally Is Not Over: MU $190 Is Coming SoonMastering Discipline: Overcoming Emotional Challenges In TradingWhy Traders Are Doubling Down on SoundHound Stock After Big RallyWhat Investors Need to Know to Beat the MarketLithium Americas Rally Lifts Other Rare Earth Stocks This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Transocean Right Now?Before you consider Transocean, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Transocean wasn't on the list.While Transocean currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here