Chad Deaton Buys 35,000 Shares of Transocean (NYSE:RIG) Stock

Transocean Ltd. (NYSE:RIG) Director Chad Deaton bought 35,000 shares of the business’s stock in a transaction dated Thursday, July 2nd. The stock was purchased at an average price of $4.95 per share, for a total transaction of $173,250.00. Following the acquisition, the director directly owned 237,421 shares of the company’s stock, valued at approximately $1,175,233.95. The trade was a 17.29% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Transocean Trading Up 4.1%

NYSE:RIG opened at $5.22 on Thursday. The firm has a market capitalization of $5.83 billion, a P/E ratio of -1.75 and a beta of 1.30. The company has a quick ratio of 1.20, a current ratio of 1.54 and a debt-to-equity ratio of 0.60. The company has a fifty day moving average of $6.04 and a 200 day moving average of $5.75. Transocean Ltd. has a 52 week low of $2.53 and a 52 week high of $7.66.

Transocean (NYSE:RIG) last released its quarterly earnings data on Monday, May 4th. The offshore drilling services provider reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.10). The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Transocean had a negative net margin of 66.79% and a positive return on equity of 0.88%. Transocean’s revenue was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.10) EPS. On average, research analysts predict that Transocean Ltd. will post 0.16 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on RIG shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Transocean in a research report on Tuesday, April 21st. Morgan Stanley raised their price target on Transocean from $5.00 to $7.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 15th. Clarkson Capital cut shares of Transocean from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 19th. TD Cowen boosted their price objective on shares of Transocean from $5.50 to $6.00 and gave the company a “hold” rating in a research report on Wednesday, May 6th. Finally, Susquehanna decreased their price objective on shares of Transocean from $8.00 to $7.00 and set a “positive” rating for the company in a report on Wednesday. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.82.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. TD Waterhouse Canada Inc. grew its stake in Transocean by 22,432.1% in the fourth quarter. TD Waterhouse Canada Inc. now owns 6,309 shares of the offshore drilling services provider’s stock worth $26,000 after purchasing an additional 6,281 shares during the period. Josh Arnold Investment Consultant LLC purchased a new position in Transocean during the second quarter valued at $26,000. Flagship Harbor Advisors LLC bought a new stake in shares of Transocean during the 4th quarter valued at $27,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Transocean during the 3rd quarter valued at $31,000. Finally, Larson Financial Group LLC grew its position in shares of Transocean by 203.8% in the 3rd quarter. Larson Financial Group LLC now owns 11,030 shares of the offshore drilling services provider’s stock worth $34,000 after buying an additional 7,399 shares during the period. 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.