Transocean Ltd. (NYSE:RIG) EVP Sells $85,800.00 in Stock

Transocean Ltd. (NYSE:RIG) EVP Roderick James Mackenzie sold 20,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $4.29, for a total value of $85,800.00. Following the completion of the sale, the executive vice president now directly owns 310,857 shares of the company’s stock, valued at approximately $1,333,576.53. This represents a 6.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Transocean Stock Up 2.9 %

Shares of NYSE:RIG opened at $4.47 on Friday. Transocean Ltd. has a 12-month low of $3.85 and a 12-month high of $6.88. The business has a 50 day moving average of $4.34 and a two-hundred day moving average of $4.95. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.64 and a quick ratio of 1.34.

Analysts Set New Price Targets

Several brokerages have weighed in on RIG. StockNews.com raised Transocean to a “sell” rating in a report on Tuesday, November 12th. Benchmark downgraded Transocean from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. Citigroup downgraded Transocean from a “buy” rating to a “neutral” rating in a report on Thursday, September 12th. Susquehanna decreased their target price on Transocean from $7.00 to $6.50 and set a “positive” rating for the company in a report on Friday, November 1st. Finally, Morgan Stanley lifted their target price on Transocean from $5.00 to $6.00 and gave the stock an “equal weight” rating in a report on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Transocean currently has an average rating of “Hold” and an average target price of $6.63.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. increased its position in shares of 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 buying an additional 2,693 shares in the last quarter. Nisa Investment Advisors LLC purchased a new stake in shares of Transocean in the second quarter valued at approximately $30,000. Orion Portfolio Solutions LLC purchased a new stake in shares of Transocean in the third quarter valued at approximately $46,000. Atria Investments Inc purchased a new stake in shares of Transocean in the third quarter valued at approximately $51,000. Finally, Kovitz Investment Group Partners LLC increased its position in shares of Transocean by 34.0% in the third quarter. Kovitz Investment Group Partners LLC now owns 15,877 shares of the offshore drilling services provider’s stock valued at $62,000 after buying an additional 4,027 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

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.