Transocean (NYSE:RIG) Stock Price Down 1.5% Following Insider Selling

Transocean Ltd. (NYSE:RIG) shares fell 1.5% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $3.97 and last traded at $4.03. 4,553,210 shares were traded during mid-day trading, a decline of 81% from the average session volume of 23,991,482 shares. The stock had previously closed at $4.09.

Specifically, EVP Roderick James Mackenzie sold 22,000 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $4.05, for a total transaction of $89,100.00. Following the sale, the executive vice president now directly owns 229,596 shares of the company’s stock, valued at $929,863.80. This trade represents a 8.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Analyst Upgrades and Downgrades

RIG has been the topic of several recent research reports. Benchmark restated a “hold” rating on shares of Transocean in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. upgraded shares of Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 price target on the stock in a research report on Friday, December 6th. Evercore ISI cut Transocean from an “outperform” rating to an “in-line” rating and cut their price objective for the company from $6.00 to $5.00 in a research report on Wednesday. StockNews.com raised shares of Transocean to a “sell” rating in a research note on Tuesday, November 12th. Finally, Morgan Stanley boosted their price target on Transocean from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 3rd. Two equities research 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $5.94.

Transocean Price Performance

The firm has a market capitalization of $3.57 billion, a price-to-earnings ratio of -5.43, a price-to-earnings-growth ratio of 0.67 and a beta of 2.73. The stock’s fifty day moving average price is $4.05 and its two-hundred day moving average price is $4.50. The company has a current ratio of 1.64, a quick ratio of 1.34 and a debt-to-equity ratio of 0.64.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Primecap Management Co. CA boosted its holdings in Transocean by 0.4% in the third quarter. Primecap Management Co. CA now owns 56,342,169 shares of the offshore drilling services provider’s stock valued at $239,454,000 after purchasing an additional 222,680 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Transocean by 19.0% in the 2nd 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 buying an additional 5,856,414 shares during the last quarter. State Street Corp raised its stake in Transocean by 11.0% during the 3rd quarter. State Street Corp now owns 19,594,121 shares of the offshore drilling services provider’s stock worth $83,275,000 after acquiring an additional 1,944,723 shares in the last quarter. Pilgrim Global Advisors LLC purchased a new stake in Transocean in the third quarter valued at $77,473,000. Finally, Geode Capital Management LLC grew its holdings in shares of Transocean by 4.1% during the third quarter. Geode Capital Management LLC now owns 17,245,298 shares of the offshore drilling services provider’s stock worth $73,307,000 after purchasing an additional 680,242 shares during the last quarter. 67.73% of the stock is 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.