Transocean (NYSE:RIG) CEO Keelan Adamson Sells 58,687 Shares

Transocean Ltd. (NYSE:RIG) CEO Keelan Adamson sold 58,687 shares of the company’s stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $5.00, for a total transaction of $293,435.00. Following the completion of the sale, the chief executive officer directly owned 1,222,182 shares in the company, valued at approximately $6,110,910. The trade was a 4.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Monday, January 26th, Keelan Adamson sold 22,846 shares of Transocean stock. The stock was sold at an average price of $5.00, for a total value of $114,230.00.
• 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 value 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 value of $38,110.50.

Transocean Stock Performance

RIG stock traded down $0.10 during midday trading on Wednesday, reaching $4.87. 40,899,763 shares of the company were exchanged, compared to its average volume of 33,956,043. The firm has a market capitalization of $5.36 billion, a price-to-earnings ratio of -1.48 and a beta of 1.36. The business has a 50-day moving average price of $4.25 and a two-hundred day moving average price of $3.62. Transocean Ltd. has a one year low of $1.97 and a one year high of $5.10. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.08 and a quick ratio of 0.91.

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

Hedge Funds Weigh In On Transocean

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. TD Waterhouse Canada Inc. grew its stake in shares of Transocean by 22,432.1% during the fourth quarter. TD Waterhouse Canada Inc. now owns 6,309 shares of the offshore drilling services provider’s stock worth $26,000 after buying an additional 6,281 shares during the last quarter. Josh Arnold Investment Consultant LLC bought a new stake in Transocean during the 2nd quarter worth $26,000. Blume Capital Management Inc. raised its position in Transocean by 125.9% in the second quarter. Blume Capital Management Inc. now owns 10,560 shares of the offshore drilling services provider’s stock valued at $27,000 after purchasing an additional 5,885 shares during the last quarter. Blueshift Asset Management LLC acquired a new stake in shares of Transocean during the second quarter valued at about $27,000. Finally, Flagship Harbor Advisors LLC bought a new stake in shares of Transocean during the fourth quarter worth about $27,000. Institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

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

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.