Roderick James Mackenzie Sells 35,000 Shares of Transocean (NYSE:RIG) Stock

Transocean Ltd. (NYSE:RIG) EVP Roderick James Mackenzie sold 35,000 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $4.48, for a total value of $156,800.00. Following the transaction, the executive vice president directly owned 212,072 shares of the company’s stock, valued at $950,082.56. The trade was a 14.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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 stock was sold at an average price of $3.86, for a total value of $207,548.34.

Transocean Price Performance

NYSE RIG traded up $0.01 during mid-day trading on Friday, hitting $4.44. The stock had a trading volume of 20,578,581 shares, compared to its average volume of 38,691,223. The firm’s 50 day moving average is $3.76 and its 200 day moving average is $3.22. 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 stock has a market capitalization of $4.88 billion, a price-to-earnings ratio of -1.35 and a beta of 1.39. Transocean Ltd. has a twelve month low of $1.97 and a twelve month high of $4.55.

Transocean (NYSE:RIG) last announced its earnings results on Wednesday, October 29th. The offshore drilling services provider reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.02. The company had revenue of ($1,894.00) million for 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 business’s revenue for the quarter was up 8.4% on a year-over-year basis. Equities research analysts forecast that Transocean Ltd. will post 0.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on RIG shares. Wall Street Zen raised shares of Transocean from a “sell” rating to a “hold” rating in a research note on Sunday, August 10th. Citigroup upped their price target on Transocean from $3.50 to $4.25 and gave the company a “neutral” rating in a research report on Friday, November 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Transocean in a research report on Wednesday, October 8th. Finally, Barclays upped their target price on Transocean from $4.00 to $4.50 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Transocean has an average rating of “Hold” and an average target price of $4.39.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Dalal Street LLC purchased a new stake in Transocean in the third quarter valued at $76,260,000. Ghisallo Capital Management LLC acquired a new stake in shares of Transocean during the 3rd quarter worth about $57,720,000. Vanguard Group Inc. raised its holdings in Transocean by 19.3% in the 3rd quarter. Vanguard Group Inc. now owns 94,519,248 shares of the offshore drilling services provider’s stock valued at $294,900,000 after buying an additional 15,315,289 shares during the period. Zimmer Partners LP purchased a new stake in Transocean in the 3rd quarter valued at about $30,262,000. Finally, Ninepoint Partners LP acquired a new position in Transocean in the third quarter valued at about $18,720,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

About Transocean

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.