Transocean Ltd. (NYSE:RIG) Director Vanessa C. L. Chang Acquires 5,000 Shares

Transocean Ltd. (NYSE:RIGGet Rating) Director Vanessa C. L. Chang purchased 5,000 shares of Transocean stock in a transaction that occurred on Wednesday, May 11th. The stock was acquired at an average price of $3.61 per share, with a total value of $18,050.00. Following the transaction, the director now owns 5,000 shares in the company, valued at $18,050. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

NYSE:RIG opened at $3.76 on Friday. The firm has a market cap of $2.56 billion, a price-to-earnings ratio of -3.65 and a beta of 2.99. The company has a current ratio of 1.69, a quick ratio of 1.40 and a debt-to-equity ratio of 0.57. The company’s 50-day moving average is $4.29 and its two-hundred day moving average is $3.67. Transocean Ltd. has a 12-month low of $2.63 and a 12-month high of $5.56.

Transocean (NYSE:RIGGet Rating) last released its earnings results on Monday, May 2nd. The offshore drilling services provider reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.06). The firm had revenue of $615.00 million during the quarter, compared to analysts’ expectations of $605.13 million. Transocean had a negative net margin of 26.84% and a negative return on equity of 4.81%. During the same quarter last year, the company posted ($0.19) earnings per share. On average, equities research analysts forecast that Transocean Ltd. will post -0.59 earnings per share for the current fiscal year.

Several equities analysts have issued reports on RIG shares. StockNews.com cut shares of Transocean from a “hold” rating to a “sell” rating in a research note on Thursday. Piper Sandler upped their price target on shares of Transocean from $3.00 to $3.85 and gave the stock a “neutral” rating in a research note on Monday, April 18th. Capital One Financial reaffirmed an “equal weight” rating on shares of Transocean in a research note on Wednesday, February 23rd. Finally, Pareto Securities raised shares of Transocean from a “sell” rating to a “hold” rating and set a $5.00 price target on the stock in a research note on Thursday, March 24th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $4.21.

Several hedge funds have recently made changes to their positions in RIG. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Transocean by 285.5% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 5,536 shares of the offshore drilling services provider’s stock worth $25,000 after acquiring an additional 4,100 shares during the period. Captrust Financial Advisors lifted its holdings in shares of Transocean by 154.4% during the 3rd quarter. Captrust Financial Advisors now owns 6,800 shares of the offshore drilling services provider’s stock worth $26,000 after acquiring an additional 4,127 shares during the period. Beck Mack & Oliver LLC acquired a new stake in Transocean during the 4th quarter worth approximately $28,000. Budros Ruhlin & Roe Inc. acquired a new stake in Transocean during the 4th quarter worth approximately $28,000. Finally, Kestra Private Wealth Services LLC acquired a new stake in Transocean during the 4th quarter worth approximately $29,000. Institutional investors and hedge funds own 47.88% of the company’s stock.

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.

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