Transocean Ltd. EVP Roderick James Mackenzie Sells Shares

On February 11th, Roderick James Mackenzie, the Executive Vice President of Transocean Ltd. (NYSE:RIG), sold 22,000 shares of the company’s stock. This transaction took place at an average price of $3.85 per share, resulting in a total sale amount of $84,700. Following this sale, Mackenzie retains 313,072 shares in Transocean, which are currently valued at about $1,205,327.20. Notably, this transaction reflects a 6.57% reduction in his ownership stake in the company. Details regarding the sale were filed with the Securities and Exchange Commission (SEC), and further information is accessible through the SEC's public records.

Recent Trades by Mackenzie

Aside from the recent sale, Roderick James Mackenzie has engaged in additional stock transactions. On January 10th, he sold another 22,000 shares at an average price of $4.05, totaling $89,100. Earlier, on November 18th, he sold 20,000 shares at an average price of $4.29, resulting in a transaction worth $85,800.

Transocean Stock Performance

As of the last trading session on Friday, shares of Transocean opened at $3.64. The company boasts a quick ratio of 1.34, a current ratio of 1.64, and a debt-to-equity ratio of 0.64. Over the past year, the stock has seen a low of $3.40 and a high of $6.88. The stock's fifty-day moving average stands at $3.85, while the two-hundred-day moving average is at $4.29.

Institutional Investments

Recently, various hedge funds have altered their investment positions in Transocean. Sanctuary Advisors LLC acquired a new stake in the company worth $412,000 during the second quarter. SG Americas Securities LLC significantly increased its holdings by 404.7% in the third quarter, now owning 60,459 shares valued at $257,000. CWM LLC also raised its stake by 36.1%, now possessing 17,065 shares valued at $73,000. Creative Planning enlarged its holdings by 63.0%, having obtained an additional 112,512 shares to reach a total of 290,993 shares valued at $1,237,000. Vontobel Holding Ltd. increased its investments by 35.1%, now owning 135,071 shares worth $574,000. At present, about 67.73% of Transocean’s stock is held by institutional investors and hedge funds.

Price Target Revisions by Analysts

Multiple analysts recently provided updates on their ratings for Transocean shares. JPMorgan Chase & Co. upgraded their stance from 'underweight' to 'neutral' while setting a target price of $5.00. Conversely, StockNews.com downgraded the company to a 'sell' rating. TD Cowen reduced their price target from $6.50 to $5.50 and maintained a 'hold' rating. Benchmark, on the other hand, reiterated a 'hold' rating for the stock. Evercore ISI revised their rating from 'outperform' to 'in-line' and adjusted their price target from $6.00 to $5.00. Overall, two analysts have issued 'sell' ratings, six maintain 'hold' ratings, and three advise 'buy,' suggesting a consensus rating of 'Hold' with an average price target of $5.94 according to MarketBeat.

Company Overview

Transocean Ltd. provides offshore contract drilling services for the oil and gas industry globally. The company operates a fleet of mobile offshore drilling units, which includes ultra-deepwater floaters and rigs tailored for harsh environments. They offer drilling services along with the necessary equipment and crews required for drilling operations.

Transocean, Shares, Market