Key Points
- Transocean CEO Keelan Adamson sold 57,968 shares on Dec. 5 at an average of $4.50 for total proceeds of $260,856, trimming his position to 1,303,715 shares (about $5.87M) — a 4.26% reduction.
- Adamson also executed earlier insider sales of 8,469 shares on Dec. 4 (at $4.50) and 40,942 shares on Oct. 24 (at $4.00), showing multiple recent disposals.
- RIG market context: the stock trades near its 1-year high ($1.97–$4.55) with a ~$4.89B market cap and a consensus "Hold" rating (price target ~$4.32) after recent target increases from Citi and Barclays.
Transocean Ltd. (NYSE:RIG - Get Free Report) CEO Keelan Adamson sold 8,469 shares of the firm's stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $4.50, for a total value of $38,110.50. Following the completion of the transaction, the chief executive officer owned 1,361,683 shares in the company, valued at $6,127,573.50. This represents a 0.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Keelan Adamson also recently made the following trade(s):
- On Friday, December 5th, Keelan Adamson sold 57,968 shares of Transocean stock. The stock was sold at an average price of $4.50, for a total value of $260,856.00.
- On Friday, October 24th, Keelan Adamson sold 40,942 shares of Transocean stock. The shares were sold at an average price of $4.00, for a total value of $163,768.00.
Transocean Price Performance
RIG opened at $4.44 on Tuesday. Transocean Ltd. has a 1 year low of $1.97 and a 1 year high of $4.55. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.08 and a quick ratio of 0.91. The company has a market capitalization of $4.89 billion, a price-to-earnings ratio of -1.35 and a beta of 1.39. The firm's fifty day moving average price is $3.81 and its two-hundred day moving average price is $3.25.
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, 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 analyst estimates of $1.01 billion. The firm's revenue was up 8.4% compared to the same quarter last year. As a group, analysts anticipate that Transocean Ltd. will post 0.14 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on RIG shares. Weiss Ratings restated a "sell (d-)" rating on shares of Transocean in a research note on Wednesday, October 8th. Citigroup lifted their price target on Transocean from $3.50 to $4.25 and gave the stock a "neutral" rating in a report on Friday, November 14th. Finally, Barclays boosted their price objective on Transocean from $4.00 to $4.50 and gave the stock an "overweight" rating in a research report on Wednesday, November 5th. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Transocean currently has a consensus rating of "Hold" and a consensus price target of $4.32.
Check Out Our Latest Report on Transocean
Institutional Trading of Transocean
Large investors have recently bought and sold shares of the company. Swiss Life Asset Management Ltd raised its stake in shares of Transocean by 59.2% in the third quarter. Swiss Life Asset Management Ltd now owns 33,083 shares of the offshore drilling services provider's stock valued at $103,000 after buying an additional 12,296 shares during the period. Polar Asset Management Partners Inc. purchased a new stake in Transocean in the 3rd quarter worth about $3,978,000. Penn Capital Management Company LLC raised its stake in Transocean by 9.8% in the 3rd quarter. Penn Capital Management Company LLC now owns 3,499,280 shares of the offshore drilling services provider's stock valued at $10,943,000 after acquiring an additional 313,224 shares during the period. CIBC Bancorp USA Inc. purchased a new stake in Transocean during the third quarter valued at about $704,000. Finally, Maven Securities LTD purchased a new stake in Transocean during the third quarter valued at about $4,680,000. 67.73% of the stock is owned by hedge funds and other 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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