Transocean (NYSE:RIG) CEO Keelan Adamson Sells 22,846 Shares

Transocean Ltd. (NYSE:RIG) CEO Keelan Adamson sold 22,846 shares of the stock in a transaction on Monday, January 26th. The stock was sold at an average price of $5.00, for a total transaction of $114,230.00. Following the completion of the sale, the chief executive officer owned 1,280,869 shares in the company, valued at approximately $6,404,345. This trade represents a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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 stock was 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 stock was sold at an average price of $4.50, for a total value of $38,110.50.

Transocean Stock Down 1.9%

Shares of Transocean stock opened at $4.87 on Thursday. The company has a market capitalization of $5.36 billion, a P/E ratio of -1.48 and a beta of 1.36. 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 business has a 50-day moving average of $4.27 and a two-hundred day moving average of $3.63. Transocean Ltd. has a 1 year low of $1.97 and a 1 year high of $5.10.

Transocean (NYSE:RIG) last released its quarterly earnings data 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 positive return on equity of 0.45% and a negative net margin of 75.71%.The business had revenue of ($1,894.00) million for the quarter, compared to analysts’ expectations of $1.01 billion. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, equities analysts predict that Transocean Ltd. will post 0.14 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on RIG shares. Susquehanna increased their price objective on shares of Transocean from $4.50 to $5.00 and gave the stock a “positive” rating in a research report on Wednesday, January 7th. Barclays increased their target price on Transocean from $4.00 to $4.50 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Transocean in a research note on Thursday, January 22nd. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Transocean in a research report on Wednesday, December 10th. Finally, Citigroup lifted their target price on Transocean from $4.25 to $4.50 and gave the company a “neutral” rating in a research report on Thursday, December 11th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $4.38.

Hedge Funds Weigh In On Transocean

Several hedge funds have recently modified their holdings of the stock. Fruth Investment Management raised its holdings in Transocean by 2.8% during the fourth quarter. Fruth Investment Management now owns 90,378 shares of the offshore drilling services provider’s stock worth $373,000 after acquiring an additional 2,500 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Transocean by 9.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 35,604 shares of the offshore drilling services provider’s stock worth $114,000 after purchasing an additional 2,932 shares during the last quarter. J.W. Cole Advisors Inc. raised its stake in shares of Transocean by 3.5% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 100,634 shares of the offshore drilling services provider’s stock worth $314,000 after purchasing an additional 3,367 shares in the last quarter. Moors & Cabot Inc. boosted its holdings in shares of Transocean by 14.7% in the 2nd quarter. Moors & Cabot Inc. now owns 27,350 shares of the offshore drilling services provider’s stock valued at $71,000 after buying an additional 3,500 shares during the last quarter. Finally, Townsend & Associates Inc grew its stake in shares of Transocean by 16.0% in the fourth quarter. Townsend & Associates Inc now owns 29,000 shares of the offshore drilling services provider’s stock valued at $126,000 after buying an additional 4,000 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

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.