Roderick James Mackenzie Sells 22,000 Shares of Transocean Ltd. (NYSE:RIG) Stock

Transocean Ltd. (NYSE:RIG - Get Free Report) EVP Roderick James Mackenzie sold 22,000 shares of the firm's stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $2.23, for a total transaction of $49,060.00. Following the sale, the executive vice president now owns 362,841 shares of the company's stock, valued at $809,135.43. This represents a 5.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Roderick James Mackenzie also recently made the following trade(s):

• On Tuesday, February 11th, Roderick James Mackenzie sold 22,000 shares of Transocean stock. The stock was sold at an average price of $3.85, for a total value of $84,700.00.

Transocean Stock Up 5.3 %

Transocean stock traded up $0.12 during midday trading on Friday, reaching $2.28. The company's stock had a trading volume of 44,828,532 shares, compared to its average volume of 24,140,492. The business has a 50-day simple moving average of $2.92 and a 200-day simple moving average of $3.67. The company has a market cap of $2.01 billion, a P/E ratio of -3.12, a P/E/G ratio of 0.86 and a beta of 2.29. Transocean Ltd. has a fifty-two week low of $1.97 and a fifty-two week high of $6.38. The company has a quick ratio of 1.34, a current ratio of 1.47 and a debt-to-equity ratio of 0.60.

Transocean (NYSE:RIG - Get Free Report) last released its quarterly earnings data on Monday, February 17th. The offshore drilling services provider reported ($0.09) earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($0.11). The company had revenue of $952.00 million for the quarter, compared to analyst estimates of $962.28 million. Transocean had a negative return on equity of 0.52% and a negative net margin of 14.53%. On average, research analysts expect that Transocean Ltd. will post 0.14 earnings per share for the current fiscal year.

Institutional Trading of Transocean

Several institutional investors and hedge funds have recently made changes to their positions in RIG. Optiver Holding B.V. increased its position in Transocean by 53.6% during the fourth quarter. Optiver Holding B.V. now owns 8,400 shares of the offshore drilling services provider's stock worth $32,000 after buying an additional 2,933 shares during the period. Ballentine Partners LLC increased its holdings in shares of Transocean by 19.4% in the 4th quarter. Ballentine Partners LLC now owns 18,247 shares of the offshore drilling services provider's stock valued at $68,000 after acquiring an additional 2,963 shares during the period. Van Den Berg Management I Inc. raised its position in Transocean by 11.9% in the 4th quarter. Van Den Berg Management I Inc. now owns 28,155 shares of the offshore drilling services provider's stock valued at $106,000 after purchasing an additional 3,000 shares during the last quarter. Pallas Capital Advisors LLC grew its position in Transocean by 25.6% during the 4th quarter. Pallas Capital Advisors LLC now owns 15,332 shares of the offshore drilling services provider's stock worth $57,000 after purchasing an additional 3,127 shares during the last quarter. Finally, Nomura Holdings Inc. increased its stake in Transocean by 11.6% in the fourth quarter. Nomura Holdings Inc. now owns 32,651 shares of the offshore drilling services provider's stock valued at $122,000 after purchasing an additional 3,390 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RIG has been the subject of a number of recent analyst reports. TD Cowen dropped their price target on shares of Transocean from $6.50 to $5.50 and set a "hold" rating for the company in a research report on Wednesday, January 8th. Evercore ISI lowered Transocean from an "outperform" rating to an "in-line" rating and lowered their price target for the stock from $6.00 to $5.00 in a research report on Wednesday, January 15th. Susquehanna decreased their target price on Transocean from $5.00 to $4.00 and set a "positive" rating on the stock in a research note on Monday, April 14th. Morgan Stanley cut their price target on shares of Transocean from $5.00 to $4.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 27th. Finally, SEB Equity Research set a $2.80 target price on shares of Transocean in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Transocean has a consensus rating of "Hold" and a consensus target price of $4.59.

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.