Transocean (NYSE:RIG) EVP Roderick James Mackenzie Sells 78,370 Shares

Transocean Ltd. (NYSE:RIG) EVP Roderick James Mackenzie sold 78,370 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $6.36, for a total transaction of $498,433.20. Following the sale, the executive vice president directly owned 268,025 shares in the company, valued at approximately $1,704,639. This trade represents a 22.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Transocean Stock Performance

Shares of RIG traded down $0.12 during trading hours on Friday, hitting $6.02. The company’s stock had a trading volume of 9,873,925 shares, compared to its average volume of 49,512,176. The business has a 50 day simple moving average of $5.18 and a two-hundred day simple moving average of $4.17. Transocean Ltd. has a 52-week low of $1.97 and a 52-week high of $6.96. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.56 and a quick ratio of 1.27. The company has a market cap of $6.63 billion, a price-to-earnings ratio of -1.91 and a beta of 1.40.

Transocean (NYSE:RIG) last announced its quarterly earnings results on Thursday, February 19th. The offshore drilling services provider reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.07). Transocean had a negative net margin of 73.52% and a positive return on equity of 0.41%. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the company posted ($0.09) earnings per share. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. On average, equities analysts expect that Transocean Ltd. will post 0.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Barclays lowered Transocean from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $4.50 to $6.00 in a research note on Wednesday, February 18th. Fearnley Fonds lowered Transocean from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Transocean in a research report on Thursday, January 22nd. Susquehanna raised their price objective on shares of Transocean from $6.50 to $7.50 and gave the company a “positive” rating in a research report on Monday, February 23rd. Finally, BTIG Research boosted their price objective on shares of Transocean from $6.00 to $10.00 and gave the company a “buy” rating in a research note on Monday, February 9th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $6.38.

Institutional Investors Weigh In On Transocean

A number of large investors have recently added to or reduced their stakes in the company. Fruth Investment Management grew its stake in shares of Transocean by 2.8% in the fourth quarter. Fruth Investment Management now owns 90,378 shares of the offshore drilling services provider’s stock worth $373,000 after acquiring an additional 2,500 shares during the period. Annandale Capital LLC boosted its holdings in Transocean by 17.7% in the fourth quarter. Annandale Capital LLC now owns 16,600 shares of the offshore drilling services provider’s stock worth $69,000 after purchasing an additional 2,500 shares during the last quarter. Jones Financial Companies Lllp grew its position in Transocean by 9.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 35,604 shares of the offshore drilling services provider’s stock worth $114,000 after purchasing an additional 2,932 shares during the period. J.W. Cole Advisors Inc. grew its position in Transocean by 3.5% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 100,634 shares of the offshore drilling services provider’s stock worth $314,000 after purchasing an additional 3,367 shares during the period. Finally, Moors & Cabot Inc. raised its stake in Transocean by 14.7% during the 2nd quarter. Moors & Cabot Inc. now owns 27,350 shares of the offshore drilling services provider’s stock valued at $71,000 after buying an additional 3,500 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Transocean Company Profile

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.