Insider Selling: Transocean Ltd. (NYSE:RIG) EVP Sells 20,000 Shares of Stock

Transocean Ltd. (NYSE:RIG) EVP Roderick James Mackenzie sold 20,000 shares of the company’s stock in a transaction dated 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 directly owns 310,857 shares in the company, valued at approximately $1,333,576.53. The trade was a 6.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Transocean Price Performance

Shares of NYSE:RIG traded up $0.04 during trading on Wednesday, reaching $4.24. 15,023,949 shares of the company traded hands, compared to its average volume of 18,536,695. The company has a quick ratio of 1.34, a current ratio of 1.64 and a debt-to-equity ratio of 0.64. Transocean Ltd. has a 52 week low of $3.85 and a 52 week high of $6.88. The firm has a market capitalization of $3.71 billion, a PE ratio of -5.65 and a beta of 2.78. The company’s 50 day moving average is $4.32 and its two-hundred day moving average is $4.96.

Institutional Trading of Transocean

A number of institutional investors and hedge funds have recently made changes to their positions in RIG. Northwestern Mutual Wealth Management Co. grew its position in Transocean by 138.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,633 shares of the offshore drilling services provider’s stock valued at $25,000 after acquiring an additional 2,693 shares during the last quarter. Nisa Investment Advisors LLC bought a new stake in shares of Transocean during the 2nd quarter valued at approximately $30,000. Orion Portfolio Solutions LLC acquired a new position in Transocean during the 3rd quarter worth approximately $46,000. Atria Investments Inc bought a new stake in shares of Transocean during the third quarter worth $51,000. Finally, Kovitz Investment Group Partners LLC increased its holdings in shares of Transocean by 34.0% during the third quarter. Kovitz Investment Group Partners LLC now owns 15,877 shares of the offshore drilling services provider’s stock worth $62,000 after buying an additional 4,027 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on RIG shares. StockNews.com upgraded Transocean to a “sell” rating in a research report on Tuesday, November 12th. Barclays lowered their target price on shares of 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 shares of Transocean from a “buy” rating to a “neutral” rating in a research report on Thursday, September 12th. Benchmark cut shares of Transocean from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th. Finally, DNB Markets upgraded shares of Transocean from a “hold” rating to a “buy” rating in a report on Tuesday, September 3rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently 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.