Transocean (NYSE:RIG) Director Buys $173,250.00 in Stock

Transocean Ltd. (NYSE:RIG) Director Chad Deaton acquired 35,000 shares of the company’s stock in a transaction dated Thursday, July 2nd. The stock was acquired at an average cost of $4.95 per share, for a total transaction of $173,250.00. Following the completion of the purchase, the director directly owned 237,421 shares in the company, valued at $1,175,233.95. This trade represents a 17.29% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Transocean Trading Down 1.8%

NYSE:RIG opened at $5.13 on Friday. The firm has a fifty day simple moving average of $6.00 and a two-hundred day simple moving average of $5.76. Transocean Ltd. has a 12 month low of $2.53 and a 12 month high of $7.66. The stock has a market capitalization of $5.73 billion, a price-to-earnings ratio of -1.72 and a beta of 1.30. The company has a current ratio of 1.54, a quick ratio of 1.20 and a debt-to-equity ratio of 0.60.

Transocean (NYSE:RIG) last issued its earnings results on Monday, May 4th. The offshore drilling services provider reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.10). Transocean had a positive return on equity of 0.88% and a negative net margin of 66.79%.The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the company earned ($0.10) earnings per share. Transocean’s revenue for the quarter was up 19.3% compared to the same quarter last year. Analysts expect that Transocean Ltd. will post 0.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Transocean

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RIG. Dalal Street LLC bought a new position in Transocean during the third quarter worth about $76,260,000. Ghisallo Capital Management LLC bought a new stake in shares of Transocean in the third quarter valued at approximately $57,720,000. Elliott Investment Management L.P. purchased a new stake in shares of Transocean during the 1st quarter valued at approximately $103,606,000. Zimmer Partners LP bought a new position in Transocean in the 3rd quarter worth approximately $30,262,000. Finally, Assenagon Asset Management S.A. purchased a new position in Transocean in the 2nd quarter valued at approximately $37,477,000. 67.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. TD Cowen upped their price objective on shares of Transocean from $5.50 to $6.00 and gave the stock a “hold” rating in a research report on Wednesday, May 6th. Susquehanna cut their target price on Transocean from $8.00 to $7.00 and set a “positive” rating on the stock in a research note on Wednesday. Clarkson Capital lowered Transocean from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 19th. Morgan Stanley increased their price target on Transocean from $5.00 to $7.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 15th. Finally, Barclays upgraded Transocean from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $6.00 to $8.00 in a report on Thursday, May 7th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $6.82.

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.