Insider Buying: Transocean Ltd. (NYSE:RIG) Director Buys 2,000,000 Shares of Stock

Transocean Ltd. (NYSE:RIG - Get Free Report) Director (Cyprus) Ltd Perestroika acquired 2,000,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 15th. The stock was bought at an average price of $6.01 per share, for a total transaction of $12,020,000.00. Following the completion of the transaction, the director now owns 87,574,894 shares of the company's stock, valued at approximately $526,325,112.94. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Transocean Trading Up 0.5 %

RIG stock traded up $0.03 on Friday, reaching $6.03. The company's stock had a trading volume of 7,400,847 shares, compared to its average volume of 17,783,244. The business has a fifty day simple moving average of $5.93 and a two-hundred day simple moving average of $5.86. Transocean Ltd. has a 12-month low of $4.45 and a 12-month high of $8.88. The firm has a market cap of $4.94 billion, a PE ratio of -11.60 and a beta of 2.83. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.04 and a current ratio of 1.35.

Transocean (NYSE:RIG - Get Free Report) last announced its quarterly earnings data on Monday, April 29th. The offshore drilling services provider reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.10. The business had revenue of $767.00 million during the quarter, compared to analyst estimates of $781.86 million. Transocean had a negative return on equity of 4.67% and a negative net margin of 13.27%. The company's revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.38) earnings per share. As a group, research analysts forecast that Transocean Ltd. will post 0.01 EPS for the current year.

Hedge Funds Weigh In On Transocean

Several large investors have recently modified their holdings of RIG. Vanguard Group Inc. increased its holdings in Transocean by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 68,982,142 shares of the offshore drilling services provider's stock worth $433,208,000 after buying an additional 429,950 shares in the last quarter. Primecap Management Co. CA increased its holdings in Transocean by 11.4% in the 4th quarter. Primecap Management Co. CA now owns 50,699,389 shares of the offshore drilling services provider's stock worth $321,941,000 after buying an additional 5,168,000 shares in the last quarter. Capital World Investors increased its holdings in Transocean by 18.8% in the 1st quarter. Capital World Investors now owns 46,334,990 shares of the offshore drilling services provider's stock worth $290,984,000 after buying an additional 7,320,672 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Transocean by 23.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 35,690,620 shares of the offshore drilling services provider's stock worth $226,641,000 after buying an additional 6,719,483 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in Transocean by 7.0% in the 1st quarter. Van ECK Associates Corp now owns 17,013,964 shares of the offshore drilling services provider's stock worth $106,848,000 after buying an additional 1,105,747 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on RIG shares. Citigroup decreased their price objective on shares of Transocean from $9.00 to $7.00 and set a "buy" rating on the stock in a research report on Wednesday, February 21st. Morgan Stanley decreased their price objective on shares of Transocean from $8.00 to $7.00 and set an "equal weight" rating on the stock in a research report on Monday, February 26th. StockNews.com upgraded shares of Transocean to a "sell" rating in a research report on Tuesday, February 20th. Barclays reduced their price target on shares of Transocean from $7.00 to $6.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 22nd. Finally, Evercore ISI reduced their price target on shares of Transocean from $9.00 to $7.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $7.70.

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.

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