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Transocean LTD (NYSE:RIG) COO John B. Stobart unloaded 8,451 shares of the stock on the open market in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $38.07, for a total value of $321,729.57. The transaction was disclosed in a filing with the SEC, which is available at this link.

Transocean LTD (NYSE:RIG) traded up 0.18% during mid-day trading on Wednesday, hitting $38.59. 5,437,872 shares of the company’s stock traded hands. Transocean LTD has a 52-week low of $37.33 and a 52-week high of $55.74. The stock has a 50-day moving average of $40.74 and a 200-day moving average of $41.89. The company has a market cap of $13.977 billion and a price-to-earnings ratio of 7.70. Transocean LTD also was the target of unusually large options trading on Tuesday. Stock traders bought 27,901 put options on the stock. This is an increase of 205% compared to the typical daily volume of 9,138 put options.

Transocean LTD (NYSE:RIG) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $1.61 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.12 by $0.49. The company had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter last year, the company posted $1.08 earnings per share. Transocean LTD’s revenue was down 1.5% compared to the same quarter last year. Analysts expect that Transocean LTD will post $4.58 EPS for the current fiscal year.

The company also recently declared a dividend, which is scheduled for Wednesday, September 17th. Stockholders of record on Friday, August 22nd will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Wednesday, August 20th.

RIG has been the subject of a number of recent research reports. Analysts at Susquehanna cut their price target on shares of Transocean LTD from $37.00 to $34.00 in a research note on Monday. Separately, analysts at Goldman Sachs cut their price target on shares of Transocean LTD to $29.00 in a research note on Friday, August 22nd. Finally, analysts at Cowen and Company cut their price target on shares of Transocean LTD from $46.00 to $43.00 in a research note on Friday, August 22nd. They now have an “outperform” rating on the stock. Five analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $43.64.

Transocean Ltd. (NYSE:RIG) is an international provider of offshore contract drilling services for oil and gas wells.

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