Transocean (NYSE:RIG) Director Acquires 35,000 Shares of Stock

Transocean Ltd. (NYSE:RIG) Director Chad Deaton bought 35,000 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The shares were bought at an average price of $4.95 per share, for a total transaction of $173,250.00. Following the completion of the acquisition, the director owned 237,421 shares in the company, valued at approximately $1,175,233.95. This trade represents a 17.29% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Transocean Stock Up 1.9%

NYSE RIG traded up $0.10 on Tuesday, reaching $5.03. The company had a trading volume of 34,058,503 shares, compared to its average volume of 39,950,066. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.54 and a quick ratio of 1.20. Transocean Ltd. has a 1 year low of $2.53 and a 1 year high of $7.66. The firm has a 50-day moving average of $6.09 and a 200-day moving average of $5.74. The firm has a market capitalization of $5.61 billion, a PE ratio of -1.69 and a beta of 1.30.

Transocean (NYSE:RIG) last posted its earnings results on Monday, May 4th. The offshore drilling services provider reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.10). The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.02 billion. Transocean had a positive return on equity of 0.88% and a negative net margin of 66.79%.The company’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.10) earnings per share. On average, equities research analysts anticipate that Transocean Ltd. will post 0.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Transocean

Several institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its holdings in shares of Transocean by 27.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 6,536 shares of the offshore drilling services provider’s stock worth $43,000 after acquiring an additional 1,391 shares during the period. Fruth Investment Management increased its stake in shares of Transocean by 2.8% in the fourth quarter. Fruth Investment Management now owns 90,378 shares of the offshore drilling services provider’s stock valued at $373,000 after purchasing an additional 2,500 shares during the period. Annandale Capital LLC raised its holdings in shares of Transocean by 17.7% during the fourth quarter. Annandale Capital LLC now owns 16,600 shares of the offshore drilling services provider’s stock valued at $69,000 after buying an additional 2,500 shares during the last quarter. Townsend & Associates Inc boosted its position in shares of Transocean by 16.0% during the fourth quarter. Townsend & Associates Inc now owns 29,000 shares of the offshore drilling services provider’s stock worth $126,000 after buying an additional 4,000 shares during the period. Finally, Mercer Global Advisors Inc. ADV grew its holdings in Transocean by 20.0% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 24,175 shares of the offshore drilling services provider’s stock worth $75,000 after buying an additional 4,026 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on RIG shares. Morgan Stanley raised their price target on shares of Transocean from $5.00 to $7.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 15th. Susquehanna increased their price objective on shares of Transocean from $7.50 to $8.00 and gave the company a “positive” rating in a research note on Tuesday, April 7th. Clarkson Capital lowered shares of Transocean from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Transocean in a research report on Tuesday, April 21st. Finally, TD Cowen increased their price target on shares of Transocean from $5.50 to $6.00 and gave the stock a “hold” rating in a research report on Wednesday, May 6th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $6.96.

Transocean Company Profile

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.