Transocean (NYSE:RIG) CEO Keelan Adamson Sells 8,469 Shares

Transocean Ltd. (NYSE:RIG) CEO Keelan Adamson sold 8,469 shares of the firm’s stock in a transaction 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 sale, the chief executive officer owned 1,361,683 shares in the company, valued at approximately $6,127,573.50. This represents a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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 stock was sold at an average price of $4.00, for a total value of $163,768.00.

Transocean Price Performance

Shares of NYSE RIG remained flat at $4.44 during midday trading on Monday. The stock had a trading volume of 18,595,173 shares, compared to its average volume of 38,605,438. The firm has a fifty day simple moving average of $3.78 and a two-hundred day simple moving average of $3.24. The company has a market cap of $4.89 billion, a P/E ratio of -1.35 and a beta of 1.39. 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 quick ratio of 0.91 and a current ratio of 1.08.

Transocean (NYSE:RIG) last announced its quarterly earnings results on Wednesday, October 29th. The offshore drilling services provider reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. Transocean had a positive return on equity of 0.45% and a negative net margin of 75.71%.The firm had revenue of ($1,894.00) million during the quarter, compared to the consensus estimate of $1.01 billion. Transocean’s revenue for the quarter was up 8.4% compared to the same quarter last year. Equities analysts anticipate that Transocean Ltd. will post 0.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Transocean in a research report on Wednesday, October 8th. Wall Street Zen upgraded Transocean from a “sell” rating to a “hold” rating in a research report on Sunday, August 10th. Barclays increased their target price on shares of Transocean from $4.00 to $4.50 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th. Finally, Citigroup increased their price objective on Transocean from $3.50 to $4.25 and gave the stock a “neutral” rating in a research report on Friday, November 14th. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $4.32.

Institutional Trading of Transocean

Several hedge funds and other institutional investors have recently made changes to their positions in RIG. Dalal Street LLC acquired a new position in Transocean during the third quarter worth about $76,260,000. Ghisallo Capital Management LLC acquired a new stake in shares of Transocean in the 3rd quarter worth approximately $57,720,000. Vanguard Group Inc. increased its stake 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 purchasing an additional 15,315,289 shares in the last quarter. Zimmer Partners LP acquired a new position in Transocean during the third quarter worth $30,262,000. Finally, Ninepoint Partners LP purchased a new stake in Transocean during the third quarter worth $18,720,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

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.