Transocean Ltd. (NYSE:RIG) EVP Roderick James Mackenzie Sells 20,000 Shares of Stock

Transocean Ltd. (NYSE:RIG) EVP Roderick James Mackenzie sold 20,000 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $4.29, for a total transaction of $85,800.00. Following the completion of the sale, the executive vice president now owns 310,857 shares in the company, valued at $1,333,576.53. This represents a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Transocean Stock Performance

Shares of RIG stock opened at $4.35 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.34 and a current ratio of 1.64. The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of -5.80 and a beta of 2.78. Transocean Ltd. has a one year low of $3.85 and a one year high of $6.88. The company has a 50 day moving average price of $4.33 and a 200 day moving average price of $4.96.

Institutional Trading of Transocean

A number of institutional investors and hedge funds have recently made changes to their positions in RIG. Pilgrim Global Advisors LLC purchased a new stake in shares of Transocean during the 3rd quarter worth about $77,473,000. Capital World Investors raised its position in Transocean by 18.8% in the first quarter. Capital World Investors now owns 46,334,990 shares of the offshore drilling services provider’s stock valued at $290,984,000 after purchasing an additional 7,320,672 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Transocean by 19.0% during the second quarter. Dimensional Fund Advisors LP now owns 36,725,995 shares of the offshore drilling services provider’s stock worth $196,484,000 after purchasing an additional 5,856,414 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Transocean in the second quarter valued at about $16,179,000. Finally, American Century Companies Inc. lifted its position in Transocean by 24.3% during the 2nd quarter. American Century Companies Inc. now owns 13,437,572 shares of the offshore drilling services provider’s stock worth $71,891,000 after acquiring an additional 2,623,615 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RIG has been the topic of a number of analyst reports. Barclays lowered their target price on Transocean from $6.00 to $4.50 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. Citigroup lowered Transocean from a “buy” rating to a “neutral” rating in a research note on Thursday, September 12th. DNB Markets raised shares of Transocean from a “hold” rating to a “buy” rating in a research note on Tuesday, September 3rd. Susquehanna decreased their price target on shares of Transocean from $7.00 to $6.50 and set a “positive” rating on the stock in a research note on Friday, November 1st. Finally, Benchmark lowered shares of Transocean from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $6.63.

Transocean Company Profile

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.