Transocean LTD (NYSE:RIG) SVP David A. Tonnel sold 10,000 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $4.68, for a total transaction of $46,800.00. Following the sale, the senior vice president now directly owns 119,083 shares in the company, valued at approximately $557,308.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of RIG opened at $4.66 on Friday. The company has a current ratio of 2.53, a quick ratio of 2.21 and a debt-to-equity ratio of 0.76. The stock has a market cap of $2.88 billion, a P/E ratio of -1.90 and a beta of 2.03. The company has a 50-day moving average of $5.71 and a two-hundred day moving average of $5.19. Transocean LTD has a 12-month low of $3.76 and a 12-month high of $9.79.
A number of research firms recently commented on RIG. Bernstein Bank began coverage on shares of Transocean in a report on Tuesday, January 14th. They set an “underperform” rating and a $2.90 price objective on the stock. Deutsche Bank began coverage on shares of Transocean in a report on Wednesday, November 27th. They set a “sell” rating and a $3.00 price objective on the stock. Fearnley Fonds downgraded shares of Transocean from a “buy” rating to a “hold” rating and set a $6.00 price objective on the stock. in a report on Monday, October 21st. ValuEngine raised shares of Transocean from a “hold” rating to a “buy” rating in a report on Saturday, January 18th. Finally, Sanford C. Bernstein began coverage on shares of Transocean in a report on Monday, January 13th. They set an “underperform” rating and a $2.90 price objective on the stock. Five research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $7.38.
Institutional investors and hedge funds have recently made changes to their positions in the business. Lindbrook Capital LLC raised its position in Transocean by 234.4% during the third quarter. Lindbrook Capital LLC now owns 7,125 shares of the offshore drilling services provider’s stock worth $32,000 after acquiring an additional 4,994 shares during the last quarter. NuWave Investment Management LLC raised its position in Transocean by 600.5% during the third quarter. NuWave Investment Management LLC now owns 8,203 shares of the offshore drilling services provider’s stock worth $36,000 after acquiring an additional 7,032 shares during the last quarter. Rational Advisors LLC raised its position in Transocean by 676.4% during the third quarter. Rational Advisors LLC now owns 9,092 shares of the offshore drilling services provider’s stock worth $41,000 after acquiring an additional 7,921 shares during the last quarter. PSI Advisors LLC acquired a new position in Transocean during the fourth quarter worth about $42,000. Finally, Ambassador Advisors LLC acquired a new position in Transocean during the third quarter worth about $46,000. Institutional investors own 70.65% of the company’s stock.
Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. The company primarily offers drilling rigs, related equipment, and work crews; and ultra-deepwater and harsh environment drilling services. As of February 18, 2019, it owned or had partial ownership interests in, and operated 48 mobile offshore drilling units that consist of 31 ultra-deepwater floaters, 13 harsh environment floaters, and 4 midwater floaters.
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