Transocean (NYSE:RIG) CEO Keelan Adamson Sells 40,942 Shares of Stock

Transocean Ltd. (NYSE:RIG) CEO Keelan Adamson sold 40,942 shares of the firm’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $4.00, for a total value of $163,768.00. Following the sale, the chief executive officer owned 1,370,152 shares of the company’s stock, valued at $5,480,608. This represents a 2.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Transocean Stock Down 2.7%

Shares of Transocean stock opened at $3.76 on Wednesday. The business has a 50-day moving average of $3.27 and a 200-day moving average of $2.90. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.26 and a quick ratio of 0.99. The company has a market capitalization of $3.54 billion, a PE ratio of -2.02 and a beta of 2.68. Transocean Ltd. has a 1-year low of $1.97 and a 1-year high of $4.74.

Analyst Ratings Changes

Several brokerages have recently weighed in on RIG. Barclays raised their target price on Transocean from $3.50 to $4.00 and gave the company an “overweight” rating in a research note on Wednesday, August 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Transocean in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded Transocean from a “sell” rating to a “hold” rating in a research note on Sunday, August 10th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $4.26.

Hedge Funds Weigh In On Transocean

A number of hedge funds have recently bought and sold shares of RIG. Josh Arnold Investment Consultant LLC acquired a new position in Transocean in the second quarter worth about $26,000. Blume Capital Management Inc. grew its stake in Transocean by 125.9% in 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 in the last quarter. Blueshift Asset Management LLC acquired a new position in Transocean in the second quarter worth about $27,000. Verum Partners LLC acquired a new position in Transocean in the second quarter worth about $28,000. Finally, Stockman Wealth Management Inc. acquired a new position in Transocean in the second quarter worth about $28,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

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.