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

Transocean Ltd. (NYSE:RIG) EVP Roderick James Mackenzie sold 22,000 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $4.05, for a total transaction of $89,100.00. Following the completion of the sale, the executive vice president now owns 229,596 shares in the company, valued at $929,863.80. The trade was a 8.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, November 18th, Roderick James Mackenzie sold 20,000 shares of Transocean stock. The shares were sold at an average price of $4.29, for a total transaction of $85,800.00.

Transocean Price Performance

Shares of RIG stock traded down $0.02 during mid-day trading on Tuesday, reaching $4.07. The company’s stock had a trading volume of 21,507,396 shares, compared to its average volume of 26,334,396. Transocean Ltd. has a 1-year low of $3.40 and a 1-year high of $6.88. The company has a market cap of $3.56 billion, a P/E ratio of -5.43 and a beta of 2.73. 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’s 50-day moving average is $4.07 and its two-hundred day moving average is $4.51.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on RIG shares. Morgan Stanley boosted their price objective on shares of Transocean from $5.00 to $6.00 and gave the company an “equal weight” rating in a research report on Thursday, October 3rd. StockNews.com raised shares of Transocean to a “sell” rating in a research report on Tuesday, November 12th. Benchmark reissued a “hold” rating on shares of Transocean in a research report on Tuesday, December 3rd. TD Cowen decreased their target price 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. Finally, JPMorgan Chase & Co. raised shares of Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 target price for the company in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $6.17.

Institutional Investors Weigh In On Transocean

A number of hedge funds have recently made changes to their positions in RIG. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Transocean by 138.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,633 shares of the offshore drilling services provider’s stock valued at $25,000 after purchasing an additional 2,693 shares during the last quarter. Orion Portfolio Solutions LLC bought a new position in shares of Transocean in the 3rd quarter valued at about $46,000. Atria Investments Inc bought a new position in shares of Transocean in the 3rd quarter valued at about $51,000. Pallas Capital Advisors LLC boosted its stake in shares of Transocean by 25.6% in the 4th quarter. Pallas Capital Advisors LLC now owns 15,332 shares of the offshore drilling services provider’s stock valued at $57,000 after purchasing an additional 3,127 shares during the last quarter. Finally, Abel Hall LLC bought a new position in shares of Transocean in the 3rd quarter valued at about $65,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

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.