Insider Buying: Transocean Ltd. (NYSE:RIG) Director Acquires 2,000,000 Shares of Stock

Transocean Ltd. (NYSE:RIG) Director (Cyprus) Ltd Perestroika acquired 2,000,000 shares of Transocean stock in a transaction on Friday, August 2nd. The stock was purchased at an average cost of $5.23 per share, with a total value of $10,460,000.00. Following the completion of the transaction, the director now directly owns 89,574,894 shares in the company, valued at approximately $468,476,695.62. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

(Cyprus) Ltd Perestroika also recently made the following trade(s):

• On Wednesday, May 15th, (Cyprus) Ltd Perestroika bought 2,000,000 shares of Transocean stock. The stock was acquired at an average price of $6.01 per share, for a total transaction of $12,020,000.00.

Transocean Stock Up 0.9 %

Transocean stock opened at $5.06 on Wednesday. The firm has a 50 day simple moving average of $5.39 and a 200 day simple moving average of $5.56. The company has a current ratio of 1.36, a quick ratio of 1.04 and a debt-to-equity ratio of 0.63. Transocean Ltd. has a 1-year low of $4.45 and a 1-year high of $8.88. The firm has a market capitalization of $4.76 billion, a price-to-earnings ratio of -9.72 and a beta of 2.85.

Transocean (NYSE:RIG) last released its quarterly earnings data on Wednesday, July 31st. The offshore drilling services provider reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.07). Transocean had a negative net margin of 11.34% and a negative return on equity of 4.76%. The company had revenue of $861.00 million for the quarter, compared to the consensus estimate of $862.25 million. During the same quarter in the previous year, the firm posted ($0.15) earnings per share. The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. On average, analysts predict that Transocean Ltd. will post -0.04 earnings per share for the current year.

Institutional Investors Weigh In On Transocean

Institutional investors and hedge funds have recently modified their holdings of the company. OLD Point Trust & Financial Services N A purchased a new position in Transocean during the fourth quarter valued at approximately $25,000. VisionPoint Advisory Group LLC purchased a new position in shares of Transocean during the 4th quarter valued at $28,000. Nisa Investment Advisors LLC bought a new position in shares of Transocean in the second quarter worth $30,000. Private Trust Co. NA raised its position in shares of Transocean by 1,489.8% in the fourth quarter. Private Trust Co. NA now owns 8,537 shares of the offshore drilling services provider’s stock worth $54,000 after buying an additional 8,000 shares in the last quarter. Finally, Fiducient Advisors LLC bought a new stake in Transocean during the first quarter valued at $63,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on RIG shares. StockNews.com upgraded Transocean to a “sell” rating in a report on Monday. Benchmark restated a “buy” rating and set a $8.00 price objective on shares of Transocean in a report on Friday, August 2nd. Evercore ISI dropped their target price on shares of Transocean from $9.00 to $7.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. Finally, Bank of America raised their price target on shares of Transocean from $5.50 to $6.00 and gave the stock an “underperform” rating in a research note on Monday, April 15th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Transocean currently has an average rating of “Hold” and a consensus target price of $7.22.

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.