Keelan Adamson Sells 22,846 Shares of Transocean (NYSE:RIG) Stock

Transocean Ltd. (NYSE:RIG) CEO Keelan Adamson sold 22,846 shares of Transocean stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $5.00, for a total transaction of $114,230.00. Following the completion of the sale, the chief executive officer owned 1,280,869 shares in the company, valued at approximately $6,404,345. This trade represents a 1.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Tuesday, January 27th, Keelan Adamson sold 58,687 shares of Transocean stock. The stock was sold at an average price of $5.00, for a total transaction of $293,435.00.
• On Friday, December 5th, Keelan Adamson sold 57,968 shares of Transocean stock. The stock was 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 stock was sold at an average price of $4.50, for a total value of $38,110.50.

Transocean Stock Performance

NYSE RIG opened at $4.93 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.08 and a quick ratio of 0.91. The stock’s 50 day simple moving average is $4.29 and its 200-day simple moving average is $3.64. The company has a market cap of $5.42 billion, a PE ratio of -1.50 and a beta of 1.36. Transocean Ltd. has a 1-year low of $1.97 and a 1-year high of $5.17.

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

Institutional Investors Weigh In On Transocean

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC lifted its stake in shares of Transocean by 12.1% in the 1st quarter. Integrated Wealth Concepts LLC now owns 69,637 shares of the offshore drilling services provider’s stock valued at $221,000 after purchasing an additional 7,520 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Transocean by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 434,031 shares of the offshore drilling services provider’s stock valued at $1,376,000 after buying an additional 18,957 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Transocean by 88.9% during 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 buying an additional 5,719,637 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of Transocean by 287.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 45,845 shares of the offshore drilling services provider’s stock valued at $127,000 after acquiring an additional 34,008 shares during the last quarter. Finally, Signaturefd LLC raised its stake in shares of Transocean by 70.8% in the 2nd quarter. Signaturefd LLC now owns 35,135 shares of the offshore drilling services provider’s stock valued at $91,000 after acquiring an additional 14,566 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on RIG. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Transocean in a report on Wednesday, December 10th. Citigroup increased their price target on Transocean from $4.25 to $4.50 and gave the company a “neutral” rating in a report on Thursday, December 11th. Susquehanna boosted their price objective on Transocean from $4.50 to $5.00 and gave the stock a “positive” rating in a research note on Wednesday, January 7th. Morgan Stanley set a $4.50 target price on Transocean in a research note on Monday, December 15th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Transocean in a report on Thursday, January 22nd. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus 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.