Insider Selling: Transocean Ltd. (NYSE:RIG) CAO Sells 14,541 Shares of Stock

Transocean Ltd. (NYSE:RIGGet Rating) CAO David A. Tonnel sold 14,541 shares of Transocean stock in a transaction on Wednesday, January 18th. The shares were sold at an average price of $6.15, for a total transaction of $89,427.15. Following the completion of the transaction, the chief accounting officer now owns 277,067 shares in the company, valued at approximately $1,703,962.05. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Transocean Price Performance

RIG opened at $6.01 on Monday. The company has a 50-day moving average of $4.53 and a 200-day moving average of $3.73. The company has a market capitalization of $4.34 billion, a P/E ratio of -7.51 and a beta of 2.80. Transocean Ltd. has a 1-year low of $2.32 and a 1-year high of $6.18. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.38 and a current ratio of 1.64.

Transocean (NYSE:RIGGet Rating) last released its earnings results on Wednesday, November 2nd. The offshore drilling services provider reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.09. Transocean had a negative net margin of 20.50% and a negative return on equity of 3.74%. The company had revenue of $691.00 million during the quarter, compared to the consensus estimate of $665.24 million. During the same quarter in the previous year, the firm earned ($0.19) EPS. The company’s revenue was up 10.4% on a year-over-year basis. Equities analysts expect that Transocean Ltd. will post -0.55 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on RIG shares. Benchmark started coverage on shares of Transocean in a report on Thursday. They set a “buy” rating and a $7.50 target price on the stock. Susquehanna reduced their target price on shares of Transocean from $4.20 to $3.30 and set a “neutral” rating on the stock in a report on Monday, October 17th. StockNews.com upgraded shares of Transocean from a “sell” rating to a “hold” rating in a report on Friday, November 4th. Barclays lifted their price target on shares of Transocean from $5.00 to $6.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 8th. Finally, Piper Sandler lifted their price target on shares of Transocean from $4.00 to $5.00 and gave the stock a “neutral” rating in a research note on Friday, November 18th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $4.94.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Independence Bank of Kentucky acquired a new position in shares of Transocean in the 4th quarter valued at about $27,000. Citizens Business Bank acquired a new position in Transocean during the 3rd quarter valued at about $25,000. Transparent Wealth Partners LLC acquired a new position in Transocean during the 3rd quarter valued at about $25,000. Kestra Advisory Services LLC acquired a new position in Transocean during the 3rd quarter valued at about $25,000. Finally, Penn Capital Management Company LLC acquired a new position in Transocean during the 3rd quarter valued at about $25,000. 55.16% of the stock is owned by institutional investors and hedge funds.

Transocean Company Profile

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Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts its mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. As of February 14, 2022, the company had partial ownership interests in and operated a fleet of 37 mobile offshore drilling units, including 27 ultra-deep water and 10 harsh environment floaters.

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