Insider Selling: Transocean (NYSE:RIG) CEO Sells 8,469 Shares of Stock

Transocean Ltd. (NYSE:RIG) CEO Keelan Adamson sold 8,469 shares of the firm’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $4.50, for a total transaction of $38,110.50. Following the transaction, the chief executive officer owned 1,361,683 shares of the company’s stock, valued at $6,127,573.50. This trade represents a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• 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 transaction of $260,856.00.
• On Friday, October 24th, Keelan Adamson sold 40,942 shares of Transocean stock. The shares were sold at an average price of $4.00, for a total transaction of $163,768.00.

Transocean Price Performance

Shares of RIG remained flat at $4.44 during mid-day trading on Monday. 18,595,173 shares of the stock were exchanged, compared to its average volume of 38,605,438. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.91 and a current ratio of 1.08. Transocean Ltd. has a fifty-two week low of $1.97 and a fifty-two week high of $4.55. The company has a market cap of $4.89 billion, a P/E ratio of -1.35 and a beta of 1.39. The stock’s 50-day simple moving average is $3.78 and its 200-day simple moving average is $3.24.

Transocean (NYSE:RIG) last posted its earnings results on Wednesday, October 29th. The offshore drilling services provider reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. The firm had revenue of ($1,894.00) million for the quarter, compared to analyst estimates of $1.01 billion. Transocean had a positive return on equity of 0.45% and a negative net margin of 75.71%.The business’s revenue was up 8.4% on a year-over-year basis. As a group, equities research analysts predict that Transocean Ltd. will post 0.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on RIG. Citigroup raised their price target on shares of Transocean from $3.50 to $4.25 and gave the stock a “neutral” rating in a research note on Friday, November 14th. Wall Street Zen upgraded shares of Transocean from a “sell” rating to a “hold” rating in a research report on Sunday, August 10th. Barclays boosted their price target on Transocean from $4.00 to $4.50 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Transocean in a report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $4.32.

Hedge Funds Weigh In On Transocean

A number of large investors have recently bought and sold shares of RIG. Josh Arnold Investment Consultant LLC purchased a new stake in shares of Transocean during the 2nd quarter valued at $26,000. Blume Capital Management Inc. boosted its holdings 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 valued at $27,000 after acquiring an additional 5,885 shares during the last quarter. Blueshift Asset Management LLC purchased a new stake in Transocean during the second quarter valued at about $27,000. Verum Partners LLC acquired a new stake in Transocean during the second quarter worth about $28,000. Finally, Stockman Wealth Management Inc. purchased a new position in shares of Transocean in the 2nd quarter worth about $28,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Transocean Company Profile

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.