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 stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $3.85, for a total value of $84,700.00. Following the completion of the transaction, the executive vice president now directly owns 313,072 shares of the company’s stock, valued at $1,205,327.20. This represents a 6.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Friday, January 10th, Roderick James Mackenzie sold 22,000 shares of Transocean stock. The stock was sold at an average price of $4.05, for a total value of $89,100.00.
• On Monday, November 18th, Roderick James Mackenzie sold 20,000 shares of Transocean stock. The shares were sold at an average price of $4.29, for a total transaction of $85,800.00.

Transocean Price Performance

NYSE RIG opened at $3.54 on Friday. Transocean Ltd. has a one year low of $3.40 and a one year high of $6.88. The stock has a 50-day moving average of $3.84 and a 200 day moving average of $4.28. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.34 and a current ratio of 1.64. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of -4.71, a PEG ratio of 0.75 and a beta of 2.70.

Wall Street Analysts Forecast Growth

RIG has been the subject of a number of recent research reports. TD Cowen lowered their price target on shares of Transocean from $6.50 to $5.50 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Susquehanna dropped their price target on Transocean from $7.00 to $6.50 and set a “positive” rating on the stock in a research report on Friday, November 1st. Benchmark reaffirmed a “hold” rating on shares of Transocean in a research report on Tuesday, December 3rd. Evercore ISI downgraded Transocean from an “outperform” rating to an “in-line” rating and dropped their target price for the stock from $6.00 to $5.00 in a report on Wednesday, January 15th. Finally, JPMorgan Chase & Co. raised Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 price target for the company in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $5.94.

Institutional Trading of Transocean

A number of large investors have recently made changes to their positions in RIG. Pilgrim Global Advisors LLC bought a new position in Transocean during the third quarter valued at approximately $77,473,000. American Century Companies Inc. boosted its stake in shares of Transocean by 51.5% in the 4th quarter. American Century Companies Inc. now owns 19,257,437 shares of the offshore drilling services provider’s stock worth $72,215,000 after buying an additional 6,542,271 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Transocean in the fourth quarter worth $16,608,000. Van ECK Associates Corp increased its position in Transocean by 33.9% during the fourth quarter. Van ECK Associates Corp now owns 15,393,873 shares of the offshore drilling services provider’s stock valued at $57,727,000 after acquiring an additional 3,895,880 shares during the last quarter. Finally, Madison Investment Advisors LLC bought a new position in Transocean in the fourth quarter valued at about $11,156,000. 67.73% of the stock is currently owned by institutional investors.

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.