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Transocean Ltd. (NYSE:RIG – Get Rating) CAO David A. Tonnel sold 14,541 shares of the company’s stock in a transaction that occurred on Wednesday, January 18th. The stock was sold at an average price of $6.15, for a total value of $89,427.15. Following the transaction, the chief accounting officer now directly owns 277,067 shares in the company, valued at $1,703,962.05. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Transocean Trading Up 4.2 %
Shares of NYSE RIG traded up $0.24 during trading hours on Friday, hitting $5.95. The company’s stock had a trading volume of 554,604 shares, compared to its average volume of 28,994,100. The business has a 50-day simple moving average of $4.50 and a 200-day simple moving average of $3.70. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.38 and a current ratio of 1.64. The stock has a market cap of $4.30 billion, a price-to-earnings ratio of -7.14 and a beta of 2.79. Transocean Ltd. has a 12 month low of $2.32 and a 12 month high of $6.18.
Transocean (NYSE:RIG – Get Rating) last posted its quarterly earnings data on Wednesday, November 2nd. The offshore drilling services provider reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.09. The business had revenue of $691.00 million for the quarter, compared to analysts’ expectations of $665.24 million. Transocean had a negative return on equity of 3.74% and a negative net margin of 20.50%. The business’s revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.19) EPS. On average, analysts anticipate that Transocean Ltd. will post -0.55 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Transocean
Large investors have recently made changes to their positions in the business. Independence Bank of Kentucky purchased a new position in shares of Transocean during the fourth quarter valued at approximately $27,000. Citizens Business Bank purchased a new position in Transocean in the 3rd quarter worth approximately $25,000. Transparent Wealth Partners LLC purchased a new position in Transocean in the 3rd quarter worth approximately $25,000. Kestra Advisory Services LLC purchased a new position in Transocean in the 3rd quarter worth approximately $25,000. Finally, Penn Capital Management Company LLC purchased a new position in Transocean in the 3rd quarter worth approximately $25,000. 55.16% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on RIG shares. Piper Sandler upped their target price on Transocean from $4.00 to $5.00 and gave the company a “neutral” rating in a report on Friday, November 18th. Susquehanna lowered their price objective on Transocean from $4.20 to $3.30 and set a “neutral” rating on the stock in a research report on Monday, October 17th. Barclays increased their price objective on Transocean from $5.00 to $6.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 8th. Benchmark began coverage on Transocean in a research report on Thursday. They issued a “buy” rating and a $7.50 price objective on the stock. Finally, StockNews.com upgraded Transocean from a “sell” rating to a “hold” rating in a research report on Friday, November 4th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Transocean has a consensus rating of “Moderate Buy” and a consensus price target of $4.94.
About Transocean
(Get Rating)
Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts its mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. As of February 14, 2022, the company had partial ownership interests in and operated a fleet of 37 mobile offshore drilling units, including 27 ultra-deep water and 10 harsh environment floaters.
See Also
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