Insider Buying: Transocean (NYSE:RIG) Director Buys $173,250.00 in Stock

Transocean Ltd. (NYSE:RIG) Director Chad Deaton bought 35,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The shares were purchased at an average price of $4.95 per share, for a total transaction of $173,250.00. Following the transaction, the director owned 237,421 shares of the company’s stock, valued at $1,175,233.95. The trade was a 17.29% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Transocean Trading Up 1.9%

RIG traded up $0.10 during trading on Tuesday, hitting $5.03. The company’s stock had a trading volume of 34,058,503 shares, compared to its average volume of 39,950,066. Transocean Ltd. has a twelve month low of $2.53 and a twelve month high of $7.66. The stock has a market cap of $5.61 billion, a PE ratio of -1.69 and a beta of 1.30. The firm’s 50 day moving average price is $6.09 and its 200-day moving average price is $5.74. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.54 and a quick ratio of 1.20.

Transocean (NYSE:RIG) last posted its quarterly earnings data on Monday, May 4th. The offshore drilling services provider reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.10). The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.02 billion. Transocean had a positive return on equity of 0.88% and a negative net margin of 66.79%.Transocean’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter last year, the business earned ($0.10) EPS. On average, analysts expect that Transocean Ltd. will post 0.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RIG. Barclays raised shares of Transocean from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $6.00 to $8.00 in a research note on Thursday, May 7th. TD Cowen boosted their target price on shares of Transocean from $5.50 to $6.00 and gave the company a “hold” rating in a report on Wednesday, May 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Transocean in a research note on Tuesday, April 21st. Clarkson Capital lowered shares of Transocean from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 19th. Finally, Morgan Stanley boosted their price objective on shares of Transocean from $5.00 to $7.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 15th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Transocean has a consensus rating of “Hold” and an average price target of $6.96.

Institutional Investors Weigh In On Transocean

Several institutional investors have recently bought and sold shares of the business. TD Waterhouse Canada Inc. raised its stake in shares of Transocean by 22,432.1% in the 4th quarter. TD Waterhouse Canada Inc. now owns 6,309 shares of the offshore drilling services provider’s stock valued at $26,000 after acquiring an additional 6,281 shares during the period. Flagship Harbor Advisors LLC purchased a new stake in Transocean during the 4th quarter worth $27,000. Ascentis Independent Advisors acquired a new stake in Transocean in the 1st quarter valued at $43,000. EverSource Wealth Advisors LLC raised its position in Transocean by 27.0% in the first quarter. EverSource Wealth Advisors LLC now owns 6,536 shares of the offshore drilling services provider’s stock valued at $43,000 after purchasing an additional 1,391 shares during the period. Finally, Root Financial Partners LLC lifted its stake in shares of Transocean by 192.6% during the first quarter. Root Financial Partners LLC now owns 7,787 shares of the offshore drilling services provider’s stock worth $52,000 after purchasing an additional 5,126 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Transocean Company Profile

Transocean Ltd. is a leading international provider of offshore contract drilling services for the oil and gas industry. The company specializes in the operation of mobile drilling units, including ultra-deepwater drillships, semisubmersible rigs and high-specification jackup rigs. Transocean’s fleet is designed to meet complex drilling requirements, from ultra-deepwater well construction to shelf exploration and development projects.

The company’s core services encompass the full spectrum of offshore drilling operations, including project and engineering management, marine operations, drilling supervision, and maintenance support.