Transocean (NYSE:RIG) Director Buys $12,200,000.00 in Stock

Transocean Ltd. (NYSE:RIG) Director (Cyprus) Ltd Perestroika purchased 4,000,000 shares of the stock in a transaction on Friday, September 26th. The stock was acquired at an average price of $3.05 per share, with a total value of $12,200,000.00. Following the completion of the acquisition, the director directly owned 95,074,894 shares of the company’s stock, valued at approximately $289,978,426.70. This represents a 4.39% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Transocean Price Performance

Shares of RIG opened at $3.30 on Friday. The stock has a 50 day simple moving average of $3.11 and a 200 day simple moving average of $2.82. Transocean Ltd. has a 52-week low of $1.97 and a 52-week high of $4.74. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 1.26. The firm has a market capitalization of $3.11 billion, a PE ratio of -1.77, a P/E/G ratio of 6.21 and a beta of 2.68.

Institutional Trading of Transocean

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Josh Arnold Investment Consultant LLC bought a new position in shares of Transocean in the 2nd quarter valued at about $26,000. Blume Capital Management Inc. grew its holdings in Transocean by 125.9% during the second quarter. Blume Capital Management Inc. now owns 10,560 shares of the offshore drilling services provider’s stock worth $27,000 after purchasing an additional 5,885 shares during the period. Blueshift Asset Management LLC acquired a new position in Transocean during the second quarter worth approximately $27,000. Parallel Advisors LLC raised its stake in Transocean by 154.8% in the first quarter. Parallel Advisors LLC now owns 8,810 shares of the offshore drilling services provider’s stock valued at $28,000 after buying an additional 5,353 shares during the period. Finally, Verum Partners LLC acquired a new stake in shares of Transocean in the second quarter valued at approximately $28,000. 67.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on RIG shares. Wall Street Zen raised shares of Transocean from a “sell” rating to a “hold” rating in a research report on Sunday, August 10th. Barclays upped their target price on shares of Transocean from $3.50 to $4.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 13th. Three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $4.26.

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.