Transocean (NYSE:RIG) Shares Down 1.5% After Insider Selling

Transocean Ltd. (NYSE:RIG) shares fell 1.5% on Tuesday following insider selling activity. The company traded as low as $3.97 and last traded at $4.03. 4,553,210 shares were traded during mid-day trading, a decline of 81% from the average session volume of 23,991,482 shares. The stock had previously closed at $4.09.

Specifically, EVP Roderick James Mackenzie sold 22,000 shares of Transocean stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $4.05, for a total value of $89,100.00. Following the completion of the transaction, the executive vice president now owns 229,596 shares in the company, valued at $929,863.80. This trade represents a 8.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Analyst Ratings Changes

Several research analysts recently commented on RIG shares. Evercore ISI downgraded shares of Transocean from an “outperform” rating to an “in-line” rating and cut their price objective for the stock from $6.00 to $5.00 in a report on Wednesday. TD Cowen cut their price target on Transocean from $6.50 to $5.50 and set a “hold” rating for the company in a report on Wednesday, January 8th. Barclays upgraded Transocean from an “equal weight” rating to an “overweight” rating and set a $4.50 price target for the company in a research report on Wednesday, December 18th. Susquehanna dropped their price objective on Transocean from $7.00 to $6.50 and set a “positive” rating on the stock in a report on Friday, November 1st. Finally, StockNews.com raised Transocean to a “sell” rating in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $5.94.

Transocean Stock Down 4.8 %

The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.34 and a current ratio of 1.64. The stock’s 50 day moving average price is $4.05 and its 200-day moving average price is $4.50. The company has a market cap of $3.57 billion, a PE ratio of -5.43, a PEG ratio of 0.67 and a beta of 2.73.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its position in Transocean by 19.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 36,725,995 shares of the offshore drilling services provider’s stock worth $196,484,000 after acquiring an additional 5,856,414 shares during the last quarter. Moors & Cabot Inc. boosted its stake in shares of Transocean by 28.3% during the second quarter. Moors & Cabot Inc. now owns 44,850 shares of the offshore drilling services provider’s stock valued at $240,000 after purchasing an additional 9,900 shares during the period. Amalgamated Bank bought a new position in shares of Transocean in the second quarter worth approximately $135,000. Vanguard Personalized Indexing Management LLC increased its stake in shares of Transocean by 15.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 102,764 shares of the offshore drilling services provider’s stock worth $550,000 after buying an additional 14,031 shares during the period. Finally, Blair William & Co. IL raised its holdings in Transocean by 3.7% during the 2nd quarter. Blair William & Co. IL now owns 269,696 shares of the offshore drilling services provider’s stock valued at $1,443,000 after buying an additional 9,704 shares during the last quarter. Hedge funds and other 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.