Frederik Wilhelm Mohn Purchases 1,500,000 Shares of Transocean (NYSE:RIG) Stock

Transocean Ltd. (NYSE:RIG) Director Frederik Wilhelm Mohn purchased 1,500,000 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The shares were purchased at an average cost of $4.02 per share, with a total value of $6,030,000.00. Following the completion of the acquisition, the director directly owned 96,574,894 shares of the company’s stock, valued at $388,231,073.88. This represents a 1.58% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Frederik Wilhelm Mohn also recently made the following trade(s):

• On Friday, September 26th, Frederik Wilhelm Mohn acquired 4,000,000 shares of Transocean stock. The stock was bought at an average price of $3.05 per share, with a total value of $12,200,000.00.

Transocean Price Performance

Shares of NYSE:RIG traded up $0.02 during trading on Tuesday, hitting $4.04. 37,655,718 shares of the stock were exchanged, compared to its average volume of 39,045,379. Transocean Ltd. has a 12-month low of $1.97 and a 12-month high of $4.45. The company has a market cap of $4.45 billion, a PE ratio of -1.23 and a beta of 2.65. The company has a fifty day moving average price of $3.61 and a two-hundred day moving average price of $3.13. The company has a current ratio of 1.26, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63.

Transocean (NYSE:RIG) last posted its quarterly earnings data on Wednesday, October 29th. The offshore drilling services provider reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. Transocean had a positive return on equity of 0.43% and a negative net margin of 75.71%.The firm had revenue of ($1,894.00) million during the quarter, compared to analysts’ expectations of $1.01 billion. The company’s quarterly revenue was up 8.4% on a year-over-year basis. On average, analysts forecast that Transocean Ltd. will post 0.14 EPS for the current year.

Hedge Funds Weigh In On Transocean

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Costello Asset Management INC acquired a new stake in shares of Transocean during the 1st quarter worth approximately $32,000. Benedict Financial Advisors Inc. bought a new position in Transocean during the 3rd quarter worth $31,000. Vestmark Advisory Solutions Inc. acquired a new stake in Transocean in the third quarter worth $31,000. Josh Arnold Investment Consultant LLC acquired a new stake in Transocean in the second quarter worth $26,000. Finally, Elevation Point Wealth Partners LLC bought a new position in shares of Transocean during the third quarter worth about $31,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RIG has been the subject of several analyst reports. Citigroup upped their target price on shares of Transocean from $3.50 to $4.25 and gave the company a “neutral” rating in a research note on Friday, November 14th. Barclays upped their price target on shares of Transocean from $4.00 to $4.50 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Wall Street Zen upgraded shares of Transocean from a “sell” rating to a “hold” rating in a research note on Sunday, August 10th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Transocean in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $4.39.

About Transocean

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. The company operates a fleet of mobile offshore drilling units, consisting of ultra-deepwater floaters and harsh environment floaters.