Key Points
- Insider sale: Director Jeremy Thigpen sold 500,000 shares on Nov. 26 at an average of $4.32 for $2.16M, reducing his direct stake by 18.97% to 2,136,223 shares (valued about $9.23M).
- Transocean shares recently traded around $4.35 (50‑day/200‑day SMAs $3.70/$3.19) with a 12‑month range of $1.97–$4.49; the company has a market cap of $4.79B and a negative P/E of -1.33, indicating continued unprofitable results.
- Analyst/institution view: MarketBeat shows a consensus "Hold" with a $4.39 price target, and institutions own 67.73% of the stock — Vanguard raised its position to ~94.52M shares after adding ~15.32M shares in Q3.
Transocean Ltd. (NYSE:RIG - Get Free Report) EVP Robert Thaddeus Vayda sold 30,000 shares of the company's stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $4.29, for a total value of $128,700.00. Following the sale, the executive vice president owned 235,154 shares in the company, valued at approximately $1,008,810.66. This represents a 11.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Transocean Stock Performance
Transocean stock opened at $4.35 on Tuesday. Transocean Ltd. has a 1-year low of $1.97 and a 1-year high of $4.49. The company has a current ratio of 1.26, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $4.79 billion, a PE ratio of -1.33 and a beta of 2.65. The firm's 50 day simple moving average is $3.70 and its 200 day simple moving average is $3.19.
Transocean (NYSE:RIG - Get Free Report) last released its quarterly earnings results on Wednesday, October 29th. The offshore drilling services provider reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.02. The firm had revenue of ($1,894.00) million for the quarter, compared to analysts' expectations of $1.01 billion. Transocean had a negative net margin of 75.71% and a positive return on equity of 0.43%. The company's revenue was up 8.4% on a year-over-year basis. As a group, analysts expect that Transocean Ltd. will post 0.14 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Transocean
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. raised its position in Transocean by 4.2% during the 1st quarter. Avantax Advisory Services Inc. now owns 111,502 shares of the offshore drilling services provider's stock valued at $353,000 after purchasing an additional 4,490 shares during the last quarter. Cetera Investment Advisers increased its position in Transocean by 13.3% during the 1st quarter. Cetera Investment Advisers now owns 221,452 shares of the offshore drilling services provider's stock valued at $702,000 after purchasing an additional 26,017 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Transocean by 1,457.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 15,165 shares of the offshore drilling services provider's stock worth $48,000 after purchasing an additional 14,191 shares during the period. R Squared Ltd increased its position in shares of Transocean by 90.5% during the first quarter. R Squared Ltd now owns 20,780 shares of the offshore drilling services provider's stock valued at $66,000 after buying an additional 9,870 shares during the period. Finally, Cedar Wealth Management LLC lifted its holdings in Transocean by 19.6% in the first quarter. Cedar Wealth Management LLC now owns 124,542 shares of the offshore drilling services provider's stock worth $395,000 after buying an additional 20,414 shares during the period. 67.73% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
RIG has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Transocean in a report on Wednesday, October 8th. Barclays boosted their price target on shares of Transocean from $4.00 to $4.50 and gave the stock an "overweight" rating in a research note on Wednesday, November 5th. Citigroup lifted their price objective on shares of Transocean from $3.50 to $4.25 and gave the stock a "neutral" rating in a report on Friday, November 14th. Finally, Wall Street Zen upgraded Transocean from a "sell" rating to a "hold" rating in a research report on Sunday, August 10th. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Transocean presently has an average rating of "Hold" and a consensus price target of $4.39.
Get Our Latest Stock Analysis on RIG
About Transocean
(
Get Free Report)
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.
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