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 stock in a transaction that occurred on Friday, January 10th. The shares were 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. This represents a 8.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 Stock Performance

RIG stock traded down $0.02 during midday trading on Tuesday, reaching $4.07. 21,507,396 shares of the company were exchanged, compared to its average volume of 26,334,396. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.64 and a quick ratio of 1.34. The business has a 50-day moving average price of $4.07 and a two-hundred day moving average price of $4.51. Transocean Ltd. has a one year low of $3.40 and a one year high of $6.88. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of -5.43 and a beta of 2.73.

Analyst Upgrades and Downgrades

RIG has been the topic of several research analyst reports. StockNews.com upgraded shares of Transocean to a “sell” rating in a report on Tuesday, November 12th. Morgan Stanley lifted their price objective on shares of Transocean from $5.00 to $6.00 and gave the company an “equal weight” rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. upgraded shares of Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 price objective on the stock in a report on Friday, December 6th. Benchmark reiterated a “hold” rating on shares of Transocean in a report on Tuesday, December 3rd. Finally, Barclays upgraded shares of Transocean from an “equal weight” rating to an “overweight” rating and set a $4.50 price objective on the stock in a report on Wednesday, December 18th. 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 data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $6.17.

Hedge Funds Weigh In On Transocean

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RIG. Meeder Advisory Services Inc. boosted its position in shares of Transocean by 104.3% in the second quarter. Meeder Advisory Services Inc. now owns 29,344 shares of the offshore drilling services provider’s stock valued at $157,000 after acquiring an additional 14,984 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Transocean by 19.0% in the second quarter. Dimensional Fund Advisors LP now owns 36,725,995 shares of the offshore drilling services provider’s stock valued at $196,484,000 after acquiring an additional 5,856,414 shares during the period. Moors & Cabot Inc. boosted its position in shares of Transocean by 28.3% in the second quarter. Moors & Cabot Inc. now owns 44,850 shares of the offshore drilling services provider’s stock valued at $240,000 after acquiring an additional 9,900 shares during the period. Primecap Management Co. CA boosted its position in shares of Transocean by 0.7% in the second quarter. Primecap Management Co. CA now owns 56,119,489 shares of the offshore drilling services provider’s stock valued at $300,239,000 after acquiring an additional 375,450 shares during the period. Finally, Amalgamated Bank bought a new stake in shares of Transocean in the second quarter valued at about $135,000. 67.73% of the stock is owned by institutional investors.

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.