Roderick James Mackenzie Sells 22,000 Shares of Transocean Ltd. (NYSE:RIG) Stock

Transocean Ltd. (NYSE:RIG) EVP Roderick James Mackenzie sold 22,000 shares of Transocean stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $2.78, for a total value of $61,160.00. Following the completion of the transaction, the executive vice president now directly owns 340,841 shares of the company’s stock, valued at approximately $947,537.98. This trade represents a 6.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Friday, April 11th, Roderick James Mackenzie sold 22,000 shares of Transocean stock. The shares were sold at an average price of $2.23, for a total value of $49,060.00.
• On Tuesday, February 11th, Roderick James Mackenzie sold 22,000 shares of Transocean stock. The shares were sold at an average price of $3.85, for a total value of $84,700.00.

Transocean Price Performance

Transocean stock opened at $2.74 on Wednesday. Transocean Ltd. has a 52 week low of $1.97 and a 52 week high of $6.38. The company’s 50 day moving average price is $2.63 and its two-hundred day moving average price is $3.45. The company has a quick ratio of 1.34, a current ratio of 1.47 and a debt-to-equity ratio of 0.60. The stock has a market cap of $2.42 billion, a P/E ratio of -3.75, a P/E/G ratio of 0.86 and a beta of 2.52.

Transocean (NYSE:RIG) last posted its earnings results on Monday, April 28th. The offshore drilling services provider reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.02. Transocean had a negative net margin of 14.53% and a negative return on equity of 0.52%. The firm had revenue of $906.00 million for the quarter, compared to analysts’ expectations of $884.92 million. During the same quarter last year, the firm earned ($0.03) EPS. The company’s quarterly revenue was up 18.7% compared to the same quarter last year. On average, equities analysts predict that Transocean Ltd. will post 0.14 earnings per share for the current year.

Wall Street Analyst Weigh In

RIG has been the subject of several research reports. Susquehanna reduced their target price on Transocean from $5.00 to $4.00 and set a “positive” rating for the company in a research note on Monday, April 14th. Morgan Stanley reduced their target price on Transocean from $5.00 to $4.00 and set an “equal weight” rating for the company in a research note on Thursday, March 27th. Barclays reduced their target price on Transocean from $4.00 to $3.50 and set an “overweight” rating for the company in a research note on Monday, April 7th. Citigroup reduced their target price on Transocean from $4.50 to $3.50 and set a “neutral” rating for the company in a research note on Wednesday, March 19th. Finally, Evercore ISI downgraded Transocean from an “outperform” rating to an “in-line” rating and cut their price target for the company from $6.00 to $5.00 in a research note on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $4.63.

Hedge Funds Weigh In On Transocean

Hedge funds have recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its position in shares of Transocean by 7.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,465,534 shares of the offshore drilling services provider’s stock worth $46,746,000 after buying an additional 859,214 shares in the last quarter. Hosking Partners LLP raised its holdings in shares of Transocean by 23.5% in the 4th quarter. Hosking Partners LLP now owns 1,706,143 shares of the offshore drilling services provider’s stock worth $6,398,000 after purchasing an additional 324,955 shares during the period. Van ECK Associates Corp raised its holdings in shares of Transocean by 33.9% in the 4th quarter. Van ECK Associates Corp now owns 15,393,873 shares of the offshore drilling services provider’s stock worth $57,727,000 after purchasing an additional 3,895,880 shares during the period. State of New Jersey Common Pension Fund D raised its holdings in shares of Transocean by 25.2% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 499,801 shares of the offshore drilling services provider’s stock worth $1,874,000 after purchasing an additional 100,691 shares during the period. Finally, Prudential Financial Inc. raised its holdings in shares of Transocean by 899.8% in the 4th quarter. Prudential Financial Inc. now owns 495,675 shares of the offshore drilling services provider’s stock worth $1,859,000 after purchasing an additional 446,100 shares during the period. Institutional investors own 67.73% of the company’s stock.

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.