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 firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $3.85, for a total transaction of $84,700.00. Following the completion of the sale, the executive vice president now directly owns 313,072 shares in the company, valued at $1,205,327.20. This represents a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Friday, January 10th, Roderick James Mackenzie sold 22,000 shares of Transocean stock. The stock was sold at an average price of $4.05, for a total transaction of $89,100.00.
• On Monday, November 18th, Roderick James Mackenzie sold 20,000 shares of Transocean stock. The stock was sold at an average price of $4.29, for a total transaction of $85,800.00.

Transocean Price Performance

Shares of Transocean stock opened at $3.54 on Friday. The firm has a market cap of $3.10 billion, a PE ratio of -4.71, a price-to-earnings-growth ratio of 0.75 and a beta of 2.70. The company’s fifty day simple moving average is $3.84 and its two-hundred day simple moving average is $4.28. 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 12-month low of $3.40 and a 12-month high of $6.88.

Institutional Trading of Transocean

Several large investors have recently modified their holdings of RIG. Mercer Global Advisors Inc. ADV lifted its holdings in Transocean by 23.5% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 19,015 shares of the offshore drilling services provider’s stock worth $71,000 after buying an additional 3,620 shares during the period. Schonfeld Strategic Advisors LLC raised its holdings in shares of Transocean by 908.8% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 205,184 shares of the offshore drilling services provider’s stock valued at $769,000 after acquiring an additional 184,845 shares in the last quarter. Ion Asset Management Ltd. lifted its stake in Transocean by 5.3% in the fourth quarter. Ion Asset Management Ltd. now owns 4,000,000 shares of the offshore drilling services provider’s stock worth $15,000,000 after acquiring an additional 199,650 shares during the period. Northern Trust Corp boosted its holdings in Transocean by 7.5% in the fourth quarter. Northern Trust Corp now owns 7,470,701 shares of the offshore drilling services provider’s stock valued at $28,015,000 after acquiring an additional 520,053 shares in the last quarter. Finally, Optiver Holding B.V. increased its position in Transocean by 53.6% during the 4th quarter. Optiver Holding B.V. now owns 8,400 shares of the offshore drilling services provider’s stock valued at $32,000 after purchasing an additional 2,933 shares during the period. 67.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RIG. StockNews.com upgraded Transocean to a “sell” rating in a research report on Tuesday, November 12th. Susquehanna cut their target price on Transocean from $7.00 to $6.50 and set a “positive” rating for the company in a research note on Friday, November 1st. Evercore ISI downgraded shares of Transocean from an “outperform” rating to an “in-line” rating and decreased their price target for the stock from $6.00 to $5.00 in a research note on Wednesday, January 15th. TD Cowen cut their price objective on shares of Transocean from $6.50 to $5.50 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Finally, Benchmark reiterated a “hold” rating on shares of Transocean in a research report on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $5.94.

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.