Roderick James Mackenzie Sells 20,000 Shares of Transocean Ltd. (NYSE:RIG) Stock

Transocean Ltd. (NYSE:RIG) EVP Roderick James Mackenzie sold 20,000 shares of Transocean stock in a transaction on Monday, November 18th. The shares were sold at an average price of $4.29, for a total value of $85,800.00. Following the completion of the transaction, the executive vice president now owns 310,857 shares in the company, valued at $1,333,576.53. The trade was a 6.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Transocean Stock Up 0.8 %

Shares of NYSE RIG traded up $0.04 during trading hours on Wednesday, hitting $4.24. The stock had a trading volume of 15,023,949 shares, compared to its average volume of 18,536,695. 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 $3.71 billion, a P/E ratio of -5.65 and a beta of 2.78. The firm’s 50-day moving average price is $4.32 and its two-hundred day moving average price is $4.96. Transocean Ltd. has a 52 week low of $3.85 and a 52 week high of $6.88.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Citigroup cut shares of Transocean from a “buy” rating to a “neutral” rating in a research report on Thursday, September 12th. DNB Markets upgraded Transocean from a “hold” rating to a “buy” rating in a report on Tuesday, September 3rd. Susquehanna lowered their target price on shares of Transocean from $7.00 to $6.50 and set a “positive” rating for the company in a research note on Friday, November 1st. Morgan Stanley raised their price target on shares of Transocean from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 3rd. Finally, Barclays lowered their price objective on shares of Transocean from $6.00 to $4.50 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $6.63.

Institutional Trading of Transocean

Institutional investors and hedge funds have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. lifted its position in Transocean by 138.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,633 shares of the offshore drilling services provider’s stock worth $25,000 after acquiring an additional 2,693 shares during the last quarter. Nisa Investment Advisors LLC acquired a new position in shares of Transocean during the second quarter worth approximately $30,000. Orion Portfolio Solutions LLC bought a new stake in shares of Transocean in the third quarter valued at approximately $46,000. SG Americas Securities LLC acquired a new stake in shares of Transocean in the second quarter worth $64,000. Finally, Atria Investments Inc bought a new position in Transocean during the third quarter worth $51,000. Institutional investors and hedge funds 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.