Transcend Capital Advisors LLC Buys Shares of 10,979 Transocean Ltd. (NYSE:RIG)

Transcend Capital Advisors LLC purchased a new position in Transocean Ltd. (NYSE:RIG) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 10,979 shares of the offshore drilling services provider’s stock, valued at approximately $41,000.

Several other hedge funds and other institutional investors have also made changes to their positions in RIG. Blue Trust Inc. lifted its stake in Transocean by 96.2% in the fourth quarter. Blue Trust Inc. now owns 9,841 shares of the offshore drilling services provider’s stock valued at $37,000 after buying an additional 4,826 shares during the period. Adero Partners LLC acquired a new position in shares of Transocean during the 4th quarter worth about $38,000. Stratos Wealth Partners LTD. bought a new stake in shares of Transocean in the 4th quarter valued at about $40,000. R Squared Ltd acquired a new stake in shares of Transocean in the 4th quarter valued at approximately $41,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new position in Transocean during the 4th quarter worth approximately $45,000. 67.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

RIG has been the subject of several recent analyst reports. Susquehanna lowered their target price on shares of Transocean from $7.00 to $6.50 and set a “positive” rating for the company in a research note on Friday, November 1st. StockNews.com upgraded shares of Transocean to a “sell” rating in a research report on Tuesday, November 12th. TD Cowen dropped their price objective on Transocean from $6.50 to $5.50 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Evercore ISI cut Transocean from an “outperform” rating to an “in-line” rating and decreased their target price for the company from $6.00 to $5.00 in a research note on Wednesday, January 15th. Finally, JPMorgan Chase & Co. raised Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 price target on the stock in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $5.81.

Transocean Stock Performance

RIG opened at $3.33 on Tuesday. The company has a market capitalization of $2.92 billion, a price-to-earnings ratio of -4.56, a P/E/G ratio of 0.86 and a beta of 2.70. The business’s 50-day moving average price is $3.78 and its two-hundred day moving average price is $4.18. Transocean Ltd. has a 1 year low of $3.28 and a 1 year high of $6.88. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.47 and a quick ratio of 1.34.

Transocean (NYSE:RIG) last announced its earnings results on Monday, February 17th. The offshore drilling services provider reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.11). Transocean had a negative net margin of 14.53% and a negative return on equity of 0.52%. The firm had revenue of $952.00 million during the quarter, compared to analyst estimates of $962.28 million. Equities analysts expect that Transocean Ltd. will post 0.14 EPS for the current fiscal year.

Insider Activity at Transocean

In other news, EVP Roderick James Mackenzie sold 22,000 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $3.85, for a total transaction of $84,700.00. Following the transaction, the executive vice president now directly owns 313,072 shares in the company, valued at $1,205,327.20. The trade was a 6.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 13.16% of the stock is owned by company insiders.

Transocean Company Profile

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.