Keelan Adamson Sells 58,687 Shares of Transocean (NYSE:RIG) Stock

Transocean Ltd. (NYSE:RIG) CEO Keelan Adamson sold 58,687 shares of the stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $5.00, for a total value of $293,435.00. Following the completion of the sale, the chief executive officer owned 1,222,182 shares in the company, valued at approximately $6,110,910. The trade was a 4.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Keelan Adamson also recently made the following trade(s):

• On Monday, January 26th, Keelan Adamson sold 22,846 shares of Transocean stock. The stock was sold at an average price of $5.00, for a total value of $114,230.00.
• On Friday, December 5th, Keelan Adamson sold 57,968 shares of Transocean stock. The shares were sold at an average price of $4.50, for a total value of $260,856.00.
• On Thursday, December 4th, Keelan Adamson sold 8,469 shares of Transocean stock. The stock was sold at an average price of $4.50, for a total value of $38,110.50.

Transocean Stock Up 1.1%

Shares of Transocean stock opened at $4.93 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.08 and a debt-to-equity ratio of 0.60. Transocean Ltd. has a 52-week low of $1.97 and a 52-week high of $5.17. The company has a market capitalization of $5.42 billion, a P/E ratio of -1.50 and a beta of 1.36. The company has a 50 day moving average of $4.29 and a 200 day moving average of $3.64.

Transocean (NYSE:RIG) last announced its quarterly earnings data on Wednesday, October 29th. The offshore drilling services provider reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. The business had revenue of ($1,894.00) million for the quarter, compared to analyst estimates of $1.01 billion. Transocean had a negative net margin of 75.71% and a positive return on equity of 0.45%. Transocean’s revenue was up 8.4% compared to the same quarter last year. As a group, research analysts forecast that Transocean Ltd. will post 0.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC raised its holdings in shares of Transocean by 12.1% in the first quarter. Integrated Wealth Concepts LLC now owns 69,637 shares of the offshore drilling services provider’s stock valued at $221,000 after buying an additional 7,520 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Transocean by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 434,031 shares of the offshore drilling services provider’s stock valued at $1,376,000 after acquiring an additional 18,957 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Transocean by 88.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 12,151,817 shares of the offshore drilling services provider’s stock worth $38,521,000 after acquiring an additional 5,719,637 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of Transocean by 287.3% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 45,845 shares of the offshore drilling services provider’s stock valued at $127,000 after purchasing an additional 34,008 shares during the last quarter. Finally, Signaturefd LLC increased its holdings in shares of Transocean by 70.8% in the second quarter. Signaturefd LLC now owns 35,135 shares of the offshore drilling services provider’s stock valued at $91,000 after purchasing an additional 14,566 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Citigroup raised their target price on Transocean from $4.25 to $4.50 and gave the stock a “neutral” rating in a research report on Thursday, December 11th. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Transocean in a report on Wednesday, December 10th. Barclays upped their target price on shares of Transocean from $4.00 to $4.50 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Morgan Stanley set a $4.50 price target on shares of Transocean in a research note on Monday, December 15th. Finally, Susquehanna upped their price objective on shares of Transocean from $4.50 to $5.00 and gave the company a “positive” rating in a research note on Wednesday, January 7th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Transocean has a consensus rating of “Hold” and a consensus price target of $4.38.

Transocean Company Profile

Transocean Ltd. is a leading international provider of offshore contract drilling services for the oil and gas industry. The company specializes in the operation of mobile drilling units, including ultra-deepwater drillships, semisubmersible rigs and high-specification jackup rigs. Transocean’s fleet is designed to meet complex drilling requirements, from ultra-deepwater well construction to shelf exploration and development projects.

The company’s core services encompass the full spectrum of offshore drilling operations, including project and engineering management, marine operations, drilling supervision, and maintenance support.