Key Points
- EVP Roderick James Mackenzie sold 35,000 shares on Dec. 3 at an average price of $4.48 for $156,800, trimming his stake by 14.17% to 212,072 shares (SEC Form 4 filed).
- Transocean beat quarterly EPS estimates (EPS $0.06 vs. $0.04) with revenue up 8.4% year-over-year, but the company still has a negative net margin and a consensus “Hold” rating with an average price target of $4.32.
- Mackenzie also sold 53,769 shares on Oct. 31 at $3.86, institutional investors own about 67.7% of the stock, and shares trade in a 12‑month range of $1.97–$4.55.
Transocean Ltd. (NYSE:RIG - Get Free Report) EVP Roderick James Mackenzie sold 35,000 shares of the business's stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $4.48, for a total value of $156,800.00. Following the sale, the executive vice president owned 212,072 shares of the company's stock, valued at approximately $950,082.56. The trade was a 14.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Roderick James Mackenzie also recently made the following trade(s):
- On Friday, October 31st, Roderick James Mackenzie sold 53,769 shares of Transocean stock. The shares were sold at an average price of $3.86, for a total value of $207,548.34.
Transocean Price Performance
Shares of RIG stock opened at $4.44 on Friday. The firm has a market cap of $4.88 billion, a price-to-earnings ratio of -1.35 and a beta of 1.39. Transocean Ltd. has a 12 month low of $1.97 and a 12 month high of $4.55. The company has a quick ratio of 0.91, a current ratio of 1.08 and a debt-to-equity ratio of 0.60. The stock has a 50-day moving average price of $3.78 and a 200 day moving average price of $3.23.
Transocean (NYSE:RIG - Get Free Report) last released its earnings results on Wednesday, October 29th. The offshore drilling services provider reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.04 by $0.02. Transocean had a negative net margin of 75.71% and a positive return on equity of 0.45%. The company had revenue of ($1,894.00) million for the quarter, compared to the consensus estimate of $1.01 billion. Transocean's revenue was up 8.4% on a year-over-year basis. Research analysts expect that Transocean Ltd. will post 0.14 EPS for the current year.
Wall Street Analysts Forecast Growth
RIG has been the topic of a number of recent research reports. Barclays raised their price objective on shares of Transocean from $4.00 to $4.50 and gave the company an "overweight" rating in a research note on Wednesday, November 5th. Weiss Ratings restated a "sell (d-)" rating on shares of Transocean in a research report on Wednesday, October 8th. Citigroup upped their price objective on Transocean from $3.50 to $4.25 and gave the company a "neutral" rating in a report on Friday, November 14th. Finally, Wall Street Zen raised Transocean from a "sell" rating to a "hold" rating in a research note on Sunday, August 10th. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $4.32.
View Our Latest Stock Analysis on Transocean
Hedge Funds Weigh In On Transocean
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Jones Financial Companies Lllp boosted its position in Transocean by 9.0% during the third quarter. Jones Financial Companies Lllp now owns 35,604 shares of the offshore drilling services provider's stock worth $114,000 after purchasing an additional 2,932 shares during the period. J.W. Cole Advisors Inc. lifted its stake in shares of Transocean by 3.5% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 100,634 shares of the offshore drilling services provider's stock worth $314,000 after buying an additional 3,367 shares during the last quarter. Moors & Cabot Inc. boosted its holdings in shares of Transocean by 14.7% during the 2nd quarter. Moors & Cabot Inc. now owns 27,350 shares of the offshore drilling services provider's stock worth $71,000 after buying an additional 3,500 shares during the period. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Transocean by 20.0% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 24,175 shares of the offshore drilling services provider's stock worth $75,000 after buying an additional 4,026 shares during the period. Finally, HBK Sorce Advisory LLC grew its stake in Transocean by 34.5% in the 2nd quarter. HBK Sorce Advisory LLC now owns 16,134 shares of the offshore drilling services provider's stock valued at $42,000 after buying an additional 4,139 shares during the last quarter. 67.73% of the stock is owned by institutional investors.
Transocean Company Profile
(
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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