Transocean (NYSE:RIG) Insider Jeremy Thigpen Sells 500,000 Shares

Transocean Ltd. (NYSE:RIG) insider Jeremy Thigpen sold 500,000 shares of the firm’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $4.32, for a total value of $2,160,000.00. Following the sale, the insider directly owned 2,136,223 shares in the company, valued at approximately $9,228,483.36. This trade represents a 18.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Transocean Price Performance

RIG traded down $0.06 on Monday, reaching $4.35. The stock had a trading volume of 32,892,540 shares, compared to its average volume of 38,919,023. The company has a market capitalization of $4.79 billion, a price-to-earnings ratio of -1.33 and a beta of 2.65. The company has a current ratio of 1.26, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63. The firm has a 50-day moving average of $3.68 and a 200-day moving average of $3.17. Transocean Ltd. has a fifty-two week low of $1.97 and a fifty-two week high of $4.49.

Transocean (NYSE:RIG) last released its quarterly earnings data on Wednesday, October 29th. The offshore drilling services provider reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.02. Transocean had a positive return on equity of 0.43% and a negative net margin of 75.71%.The company had revenue of ($1,894.00) million during the quarter, compared to the consensus estimate of $1.01 billion. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Transocean Ltd. will post 0.14 EPS for the current year.

Analyst Ratings Changes

RIG has been the topic of several analyst reports. Barclays boosted their price objective on shares of Transocean from $4.00 to $4.50 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Transocean in a research note on Wednesday, October 8th. Citigroup lifted their price objective on Transocean from $3.50 to $4.25 and gave the stock a “neutral” rating in a research note on Friday, November 14th. Finally, Wall Street Zen raised shares of Transocean from a “sell” rating to a “hold” rating in a research report on Sunday, August 10th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Transocean has a consensus rating of “Hold” and an average price target of $4.39.

Hedge Funds Weigh In On Transocean

Hedge funds and other institutional investors have recently modified their holdings of the company. Jump Financial LLC lifted its position in Transocean by 156.2% during the first quarter. Jump Financial LLC now owns 1,489,600 shares of the offshore drilling services provider’s stock valued at $4,722,000 after buying an additional 908,219 shares during the period. Quantbot Technologies LP purchased a new position in Transocean during the 1st quarter valued at about $688,000. 180 Wealth Advisors LLC boosted its stake in Transocean by 69.3% during the second quarter. 180 Wealth Advisors LLC now owns 276,851 shares of the offshore drilling services provider’s stock worth $717,000 after acquiring an additional 113,320 shares in the last quarter. Ion Asset Management Ltd. increased its stake in shares of Transocean by 7.5% during the first quarter. Ion Asset Management Ltd. now owns 4,300,000 shares of the offshore drilling services provider’s stock valued at $13,631,000 after purchasing an additional 300,000 shares in the last quarter. Finally, Creative Planning boosted its position in shares of Transocean by 89.6% in the 2nd quarter. Creative Planning now owns 1,072,043 shares of the offshore drilling services provider’s stock worth $2,777,000 after purchasing an additional 506,624 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

About Transocean

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.