Insider Selling: Transocean Ltd. (NYSE:RIG) EVP Sells 22,000 Shares of Stock

Transocean Ltd. (NYSE:RIG) EVP Roderick James Mackenzie sold 22,000 shares of the business’s stock in a transaction on Friday, April 11th. The stock was sold at an average price of $2.23, for a total transaction of $49,060.00. Following the completion of the transaction, the executive vice president now owns 362,841 shares in the company, valued at $809,135.43. This represents a 5.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Roderick James Mackenzie also recently made the following trade(s):

• On Tuesday, February 11th, Roderick James Mackenzie sold 22,000 shares of Transocean stock. The stock was sold at an average price of $3.85, for a total value of $84,700.00.

Transocean Stock Down 1.8 %

NYSE:RIG opened at $2.22 on Tuesday. The company has a current ratio of 1.47, a quick ratio of 1.34 and a debt-to-equity ratio of 0.60. The stock has a 50 day moving average of $3.05 and a 200-day moving average of $3.73. The firm has a market capitalization of $1.96 billion, a PE ratio of -3.04, a price-to-earnings-growth ratio of 0.86 and a beta of 2.29. Transocean Ltd. has a 52 week low of $1.97 and a 52 week high of $6.38.

Transocean (NYSE:RIG) last posted its earnings results on Monday, February 17th. The offshore drilling services provider reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.11). Transocean had a negative net margin of 14.53% and a negative return on equity of 0.52%. The company had revenue of $952.00 million during the quarter, compared to the consensus estimate of $962.28 million. Analysts predict that Transocean Ltd. will post 0.14 EPS for the current year.

Analyst Ratings Changes

RIG has been the subject of a number of recent analyst reports. Susquehanna lowered their price objective on Transocean from $5.00 to $4.00 and set a “positive” rating for the company in a research note on Monday. Barclays dropped their price target on shares of Transocean from $4.00 to $3.50 and set an “overweight” rating for the company in a research note on Monday, April 7th. TD Cowen decreased their price objective on shares of Transocean from $6.50 to $5.50 and set a “hold” rating for the company in a report on Wednesday, January 8th. SEB Equity Research set a $2.80 target price on shares of Transocean in a research note on Wednesday, March 5th. Finally, Citigroup decreased their price target on Transocean from $4.50 to $3.50 and set a “neutral” rating for the company in a research note on Wednesday, March 19th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Transocean presently has a consensus rating of “Hold” and a consensus target price of $4.73.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Quantinno Capital Management LP bought a new position in Transocean in the 3rd quarter worth approximately $68,000. Stifel Financial Corp raised its stake in shares of Transocean by 3.8% during the third quarter. Stifel Financial Corp now owns 152,149 shares of the offshore drilling services provider’s stock valued at $647,000 after purchasing an additional 5,636 shares in the last quarter. State Street Corp raised its stake in shares of Transocean by 11.0% during the third quarter. State Street Corp now owns 19,594,121 shares of the offshore drilling services provider’s stock valued at $83,275,000 after purchasing an additional 1,944,723 shares in the last quarter. Kovitz Investment Group Partners LLC lifted its holdings in Transocean by 34.0% in the third quarter. Kovitz Investment Group Partners LLC now owns 15,877 shares of the offshore drilling services provider’s stock worth $62,000 after purchasing an additional 4,027 shares during the period. Finally, Orion Portfolio Solutions LLC bought a new position in Transocean in the 3rd quarter valued at about $46,000. Institutional investors own 67.73% of the company’s stock.

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.