David A. Tonnel Sells 10,000 Shares of Transocean LTD (NYSE:RIG) Stock

Transocean LTD (NYSE:RIG) SVP David A. Tonnel sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $4.68, for a total transaction of $46,800.00. Following the completion of the transaction, the senior vice president now directly owns 119,083 shares of the company’s stock, valued at $557,308.44. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

NYSE RIG opened at $4.67 on Thursday. Transocean LTD has a 1 year low of $3.76 and a 1 year high of $9.79. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.53 and a quick ratio of 2.21. The stock has a market capitalization of $2.88 billion, a PE ratio of -1.91 and a beta of 2.03. The company’s 50 day simple moving average is $5.75 and its two-hundred day simple moving average is $5.19.

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. grew its holdings in Transocean by 2.9% during the second quarter. BlackRock Inc. now owns 48,524,391 shares of the offshore drilling services provider’s stock worth $311,041,000 after purchasing an additional 1,375,500 shares during the period. State of Alaska Department of Revenue grew its holdings in Transocean by 83.0% during the third quarter. State of Alaska Department of Revenue now owns 102,257 shares of the offshore drilling services provider’s stock worth $457,000 after purchasing an additional 46,394 shares during the period. Cerebellum GP LLC grew its holdings in Transocean by 74.5% during the third quarter. Cerebellum GP LLC now owns 94,524 shares of the offshore drilling services provider’s stock worth $423,000 after purchasing an additional 40,365 shares during the period. Pacer Advisors Inc. bought a new position in Transocean during the third quarter worth about $924,000. Finally, NuWave Investment Management LLC grew its holdings 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 purchasing an additional 7,032 shares during the period. Institutional investors and hedge funds own 70.65% of the company’s stock.

Several research analysts recently commented on RIG shares. ValuEngine raised shares of Transocean from a “hold” rating to a “buy” rating in a report on Saturday, January 18th. Deutsche Bank started coverage on shares of Transocean in a report on Wednesday, November 27th. They issued a “sell” rating and a $3.00 price objective for the company. Sanford C. Bernstein started coverage on shares of Transocean in a report on Monday, January 13th. They issued an “underperform” rating and a $2.90 price objective for the company. Fearnley Fonds downgraded shares of Transocean from a “buy” rating to a “hold” rating and set a $6.00 price objective for the company. in a report on Monday, October 21st. Finally, Bernstein Bank started coverage on shares of Transocean in a report on Tuesday, January 14th. They issued an “underperform” rating and a $2.90 price objective for the company. Five analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $7.38.

Transocean Company Profile

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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Insider Buying and Selling by Quarter for Transocean (NYSE:RIG)

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