Independent Advisor Alliance Lowers Stock Position in Transocean Ltd. (NYSE:RIG)

Independent Advisor Alliance decreased its position in shares of Transocean Ltd. (NYSE:RIGFree Report) by 22.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,215 shares of the offshore drilling services provider’s stock after selling 6,350 shares during the quarter. Independent Advisor Alliance’s holdings in Transocean were worth $141,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. VisionPoint Advisory Group LLC purchased a new stake in shares of Transocean during the 4th quarter worth approximately $28,000. Private Trust Co. NA boosted its stake in shares of Transocean by 1,489.8% during the 4th quarter. Private Trust Co. NA now owns 8,537 shares of the offshore drilling services provider’s stock worth $54,000 after acquiring an additional 8,000 shares in the last quarter. First Western Trust Bank purchased a new stake in shares of Transocean during the 4th quarter worth approximately $76,000. Southern Capital Advisors LLC purchased a new stake in shares of Transocean during the 4th quarter worth approximately $83,000. Finally, Vicus Capital purchased a new stake in shares of Transocean during the 4th quarter worth approximately $88,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on RIG shares. Barclays cut their price objective on Transocean from $7.00 to $6.00 and set an “equal weight” rating for the company in a research report on Thursday, February 22nd. Benchmark restated a “buy” rating and set a $8.00 price objective on shares of Transocean in a research report on Tuesday, April 30th. StockNews.com upgraded Transocean to a “sell” rating in a research report on Tuesday, February 20th. Bank of America lifted their price objective on Transocean from $5.50 to $6.00 and gave the stock an “underperform” rating in a research report on Monday, April 15th. Finally, Susquehanna upgraded Transocean from a “neutral” rating to a “positive” rating and lifted their price objective for the stock from $5.50 to $9.00 in a research report on Monday, April 8th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Transocean presently has an average rating of “Hold” and a consensus price target of $7.70.

Get Our Latest Stock Report on Transocean

Transocean Trading Down 3.8 %

Shares of RIG opened at $5.93 on Thursday. The stock has a fifty day moving average of $5.98 and a two-hundred day moving average of $5.84. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.04 and a current ratio of 1.35. The company has a market capitalization of $4.86 billion, a PE ratio of -11.39, a price-to-earnings-growth ratio of 30.65 and a beta of 2.83. Transocean Ltd. has a fifty-two week low of $4.45 and a fifty-two week high of $8.88.

Transocean (NYSE:RIGGet Free Report) last released its quarterly earnings data on Monday, April 29th. The offshore drilling services provider reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.10. The business had revenue of $767.00 million during the quarter, compared to the consensus estimate of $781.86 million. Transocean had a negative return on equity of 4.67% and a negative net margin of 13.27%. The business’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.38) EPS.

Insider Transactions at Transocean

In other news, Director (Cyprus) Ltd Perestroika acquired 2,000,000 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was acquired at an average cost of $6.01 per share, for a total transaction of $12,020,000.00. Following the acquisition, the director now directly owns 87,574,894 shares in the company, valued at approximately $526,325,112.94. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 12.54% of the company’s stock.

Transocean Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Transocean (NYSE:RIG)

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