Transocean (NYSE:RIG) CEO Sells $114,230.00 in Stock

Transocean Ltd. (NYSE:RIG) CEO Keelan Adamson sold 22,846 shares of the company’s stock in a transaction on Monday, January 26th. The shares were sold at an average price of $5.00, for a total value of $114,230.00. Following the sale, the chief executive officer owned 1,280,869 shares of the company’s stock, valued at approximately $6,404,345. This trade represents a 1.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through 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 value of $293,435.00.
• 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 transaction 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 transaction of $38,110.50.

Transocean Stock Performance

RIG stock traded down $0.10 during midday trading on Wednesday, reaching $4.87. 40,899,763 shares of the company’s stock traded hands, compared to its average volume of 33,956,043. The company has a current ratio of 1.08, a quick ratio of 0.91 and a debt-to-equity ratio of 0.60. Transocean Ltd. has a 52-week low of $1.97 and a 52-week high of $5.10. The stock has a market cap of $5.36 billion, a P/E ratio of -1.48 and a beta of 1.36. The stock’s 50-day moving average is $4.25 and its 200 day moving average is $3.62.

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

Wall Street Analyst Weigh In

RIG has been the subject of a number of analyst reports. Susquehanna upped their price target on Transocean from $4.50 to $5.00 and gave the stock a “positive” rating in a research report on Wednesday, January 7th. Morgan Stanley set a $4.50 target price on shares of Transocean in a research note on Monday, December 15th. Barclays upped their price target on shares of Transocean from $4.00 to $4.50 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. JPMorgan Chase & Co. restated an “underweight” rating on shares of Transocean in a research report on Wednesday, December 10th. Finally, Citigroup upped their target price on shares of Transocean from $4.25 to $4.50 and gave the stock a “neutral” rating in a report on Thursday, December 11th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $4.38.

Hedge Funds Weigh In On Transocean

Institutional investors have recently bought and sold shares of the stock. TD Waterhouse Canada Inc. grew its position 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 acquiring an additional 6,281 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new position in shares of Transocean in the 4th quarter worth approximately $27,000. Benedict Financial Advisors Inc. bought a new position in shares of Transocean during the 3rd quarter valued at approximately $31,000. Vestmark Advisory Solutions Inc. purchased a new stake in Transocean during the 3rd quarter valued at $31,000. Finally, Forteris Wealth Management Inc. bought a new stake in Transocean in the fourth quarter worth $41,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

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.