HOUSTON—Mackenzie Roderick James, Executive Vice President and Chief Commercial Officer of Transocean Ltd . (NYSE:RIG), recently sold 22,000 shares of the company. The transaction, executed on April 11, 2025, was conducted at an average price of $2.23 per share, totaling approximately $49,060. The sale comes amid significant market volatility, with the stock down nearly 65% over the past year and trading at just 0.19 times book value, according to InvestingPro data.
Following the sale, James retains ownership of 362,841 shares in the offshore drilling contractor. The transaction was carried out under a pre-established Rule 10b5-1 trading plan, which James adopted on November 11, 2024. The company maintains strong liquidity with a current ratio of 1.47, indicating sufficient assets to cover short-term obligations.
Transocean Ltd., headquartered in Steinhausen, Switzerland, is a leading provider of offshore contract drilling services for oil and gas wells. Despite current challenges, analysts project profitability for the company in 2025, with revenue growth of 10% expected. For deeper insights and additional analysis, access the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 US stocks.
In other recent news, Transocean Ltd disclosed its annual financial results, providing a detailed overview of its financial performance for the past three years, ending December 31, 2024. The company reported a Q4 2024 net income of $7 million, translating to a loss of $0.11 per diluted share, missing the expected earnings per share (EPS) of $0.0029. Contract drilling revenues for the quarter were $952 million, slightly below the forecast of $961.51 million. Despite these figures, Transocean projects 2025 contract drilling revenues between $3.85 billion and $3.95 billion. Additionally, Transocean’s management is exploring sale opportunities for its idle sixth-generation assets, the Development Driller III and Discoverer Inspiration, which are now classified as held-for-sale. On the analyst front, JPMorgan reiterated a Neutral rating on Transocean with a price target of $5.00, while Benchmark maintained a Hold rating, noting the stability in the pricing of 7G drillships. These developments indicate that Transocean is focusing on maintaining a strong market presence and exploring strategic options to optimize its asset portfolio.
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