Insider Selling: Transocean (NYSE:RIG) CEO Sells $114,230.00 in Stock

Transocean Ltd. (NYSE:RIG) CEO Keelan Adamson sold 22,846 shares of the stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $5.00, for a total transaction of $114,230.00. Following the sale, the chief executive officer directly owned 1,280,869 shares in the company, valued at $6,404,345. This trade represents a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Keelan Adamson also recently made the following trade(s):

• On Tuesday, January 27th, Keelan Adamson sold 58,687 shares of Transocean stock. The shares were sold at an average price of $5.00, for a total transaction of $293,435.00.
• On Friday, December 5th, Keelan Adamson sold 57,968 shares of Transocean stock. The shares were sold at an average price of $4.50, for a total transaction of $260,856.00.
• On Thursday, December 4th, Keelan Adamson sold 8,469 shares of Transocean stock. The shares were sold at an average price of $4.50, for a total transaction of $38,110.50.

Transocean Trading Up 1.1%

RIG opened at $4.98 on Friday. The firm’s fifty day moving average is $4.31 and its two-hundred day moving average is $3.65. The firm has a market cap of $5.48 billion, a PE ratio of -1.52 and a beta of 1.36. Transocean Ltd. has a twelve month low of $1.97 and a twelve month high of $5.17. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.91 and a current ratio of 1.08.

Transocean (NYSE:RIG) last released its quarterly earnings data on Wednesday, October 29th. The offshore drilling services provider reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. The business had revenue of ($1,894.00) million during 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 0.45%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. Equities research analysts anticipate that Transocean Ltd. will post 0.14 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on RIG. Citigroup raised their target price on shares of Transocean from $4.25 to $4.50 and gave the stock a “neutral” rating in a report on Thursday, December 11th. Barclays raised their price objective on shares of Transocean from $4.00 to $4.50 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. Morgan Stanley set a $4.50 target price on shares of Transocean in a research note on Monday, December 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Transocean in a report on Thursday, January 22nd. Finally, JPMorgan Chase & Co. restated an “underweight” rating on shares of Transocean in a report on Wednesday, December 10th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Transocean currently has a consensus rating of “Hold” and a consensus price target of $4.38.

Hedge Funds Weigh In On Transocean

Large investors have recently modified their holdings of the business. TD Waterhouse Canada Inc. increased its position in shares of Transocean by 22,432.1% in the fourth 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 last quarter. Flagship Harbor Advisors LLC bought a new position in Transocean in the fourth quarter valued at approximately $27,000. Benedict Financial Advisors Inc. acquired a new position in shares of Transocean during the 3rd quarter worth approximately $31,000. Vestmark Advisory Solutions Inc. acquired a new stake in shares of Transocean in the 3rd quarter valued at approximately $31,000. Finally, Forteris Wealth Management Inc. bought a new position in shares of Transocean in the fourth quarter valued at $41,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

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.