Transocean (NYSE:RIG) CEO Sells $293,435.00 in Stock

Transocean Ltd. (NYSE:RIG) CEO Keelan Adamson sold 58,687 shares of the firm’s stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $5.00, for a total value of $293,435.00. Following the sale, the chief executive officer owned 1,222,182 shares in the company, valued at $6,110,910. This trade represents a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Keelan Adamson also recently made the following trade(s):

• On Monday, January 26th, Keelan Adamson sold 22,846 shares of Transocean stock. The stock was sold at an average price of $5.00, for a total value of $114,230.00.
• On Friday, December 5th, Keelan Adamson sold 57,968 shares of Transocean stock. The shares were sold at an average price of $4.50, for a total value of $260,856.00.
• On Thursday, December 4th, Keelan Adamson sold 8,469 shares of Transocean stock. The shares were sold at an average price of $4.50, for a total value of $38,110.50.

Transocean Trading Up 1.1%

Shares of NYSE:RIG opened at $4.98 on Friday. The business’s 50 day moving average price is $4.31 and its 200-day moving average price is $3.65. Transocean Ltd. has a 1 year low of $1.97 and a 1 year high of $5.17. The firm has a market capitalization of $5.48 billion, a price-to-earnings ratio of -1.52 and a beta of 1.36. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.08 and a quick ratio of 0.91.

Transocean (NYSE:RIG) last posted its quarterly earnings data on Wednesday, October 29th. The offshore drilling services provider reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. Transocean had a negative net margin of 75.71% and a positive return on equity of 0.45%. The company had revenue of ($1,894.00) million during the quarter, compared to analysts’ expectations of $1.01 billion. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, equities research analysts forecast that Transocean Ltd. will post 0.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Transocean

A number of institutional investors have recently bought and sold shares of the company. TD Waterhouse Canada Inc. grew its stake in shares of Transocean by 22,432.1% in the 4th quarter. TD Waterhouse Canada Inc. now owns 6,309 shares of the offshore drilling services provider’s stock valued at $26,000 after buying an additional 6,281 shares during the period. Josh Arnold Investment Consultant LLC acquired a new position in Transocean in the second quarter valued at approximately $26,000. Blume Capital Management Inc. grew its position in Transocean by 125.9% in the second quarter. Blume Capital Management Inc. now owns 10,560 shares of the offshore drilling services provider’s stock worth $27,000 after acquiring an additional 5,885 shares during the period. Blueshift Asset Management LLC acquired a new stake in Transocean during the second quarter worth $27,000. Finally, Flagship Harbor Advisors LLC purchased a new stake in Transocean in the fourth quarter valued at $27,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RIG has been the topic of a number of research reports. Barclays raised their price objective on Transocean from $4.00 to $4.50 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Susquehanna boosted their price target on shares of Transocean from $4.50 to $5.00 and gave the stock a “positive” rating in a research report on Wednesday, January 7th. Citigroup upped their price objective on shares of Transocean from $4.25 to $4.50 and gave the company a “neutral” rating in a research note on Thursday, December 11th. Morgan Stanley set a $4.50 target price on shares of Transocean in a research note on Monday, December 15th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Transocean in a research report on Thursday, January 22nd. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $4.38.

About Transocean

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.