Insider Selling: Transocean Ltd. (NYSE:RIG) EVP Sells $61,160.00 in Stock

Transocean Ltd. (NYSE:RIG) EVP Roderick James Mackenzie sold 22,000 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $2.78, for a total value of $61,160.00. Following the transaction, the executive vice president now directly owns 340,841 shares in the company, valued at approximately $947,537.98. The trade was a 6.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Roderick James Mackenzie also recently made the following trade(s):

• On Friday, April 11th, Roderick James Mackenzie sold 22,000 shares of Transocean stock. The stock was sold at an average price of $2.23, for a total value of $49,060.00.
• On Tuesday, February 11th, Roderick James Mackenzie sold 22,000 shares of Transocean stock. The shares were sold at an average price of $3.85, for a total value of $84,700.00.

Transocean Stock Performance

Shares of NYSE:RIG opened at $2.79 on Thursday. The firm has a market capitalization of $2.46 billion, a PE ratio of -3.82, a P/E/G ratio of 0.86 and a beta of 2.52. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.47 and a quick ratio of 1.34. The business has a 50-day moving average of $2.62 and a two-hundred day moving average of $3.44. Transocean Ltd. has a 12 month low of $1.97 and a 12 month high of $6.38.

Transocean (NYSE:RIG) last posted its earnings results on Monday, April 28th. The offshore drilling services provider reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. Transocean had a negative return on equity of 0.52% and a negative net margin of 14.53%. The business had revenue of $906.00 million during the quarter, compared to analyst estimates of $884.92 million. During the same quarter last year, the firm earned ($0.03) earnings per share. The company’s revenue for the quarter was up 18.7% compared to the same quarter last year. As a group, research analysts forecast that Transocean Ltd. will post 0.14 earnings per share for the current year.

Wall Street Analyst Weigh In

RIG has been the topic of several research analyst reports. Susquehanna cut their target price on Transocean from $5.00 to $4.00 and set a “positive” rating on the stock in a research report on Monday, April 14th. Morgan Stanley dropped their target price on Transocean from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Thursday, March 27th. Citigroup decreased their price target on Transocean from $4.50 to $3.50 and set a “neutral” rating on the stock in a research note on Wednesday, March 19th. Barclays decreased their price objective on shares of Transocean from $4.00 to $3.50 and set an “overweight” rating on the stock in a research report on Monday, April 7th. Finally, Evercore ISI downgraded Transocean from an “outperform” rating to an “in-line” rating and reduced their price objective for the company from $6.00 to $5.00 in a research report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $4.63.

Institutional Investors Weigh In On Transocean

A number of hedge funds have recently bought and sold shares of RIG. Barclays PLC lifted its holdings in Transocean by 60.1% during the 3rd quarter. Barclays PLC now owns 1,623,924 shares of the offshore drilling services provider’s stock worth $6,902,000 after buying an additional 609,681 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in Transocean by 28.0% in the 4th quarter. Harbor Capital Advisors Inc. now owns 42,803 shares of the offshore drilling services provider’s stock valued at $161,000 after acquiring an additional 9,361 shares during the period. Pallas Capital Advisors LLC raised its stake in shares of Transocean by 25.6% in the 4th quarter. Pallas Capital Advisors LLC now owns 15,332 shares of the offshore drilling services provider’s stock worth $57,000 after buying an additional 3,127 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in shares of Transocean in the 4th quarter worth $150,000. Finally, 180 Wealth Advisors LLC grew its holdings in shares of Transocean by 32.6% in the 4th quarter. 180 Wealth Advisors LLC now owns 116,736 shares of the offshore drilling services provider’s stock worth $438,000 after acquiring an additional 28,715 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Transocean Company Profile

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.