Axxcess Wealth Management LLC Sells 3,157 Shares of Transocean Ltd. (NYSE:RIG)

Axxcess Wealth Management LLC lessened its position in shares of Transocean Ltd. (NYSE:RIG) by 19.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,875 shares of the offshore drilling services provider’s stock after selling 3,157 shares during the period. Axxcess Wealth Management LLC’s holdings in Transocean were worth $48,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Twin Tree Management LP purchased a new position in shares of Transocean during the 4th quarter valued at $27,000. Blue Trust Inc. grew its position in Transocean by 96.2% during the fourth quarter. Blue Trust Inc. now owns 9,841 shares of the offshore drilling services provider’s stock worth $37,000 after buying an additional 4,826 shares in the last quarter. Adero Partners LLC bought a new position in Transocean in the 4th quarter worth about $38,000. Stratos Wealth Partners LTD. purchased a new stake in shares of Transocean in the 4th quarter valued at about $40,000. Finally, Orion Portfolio Solutions LLC bought a new stake in shares of Transocean during the 3rd quarter valued at about $46,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Transocean Stock Down 1.4 %

RIG opened at $3.20 on Monday. Transocean Ltd. has a 12 month low of $2.55 and a 12 month high of $6.88. The company has a current ratio of 1.47, a quick ratio of 1.34 and a debt-to-equity ratio of 0.60. The business’s 50-day moving average price is $3.49 and its 200-day moving average price is $3.93. The company has a market cap of $2.81 billion, a P/E ratio of -4.38, a P/E/G ratio of 0.86 and a beta of 2.72.

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

Insider Activity at Transocean

In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $3.85, for a total transaction of $84,700.00. Following the completion of the transaction, the executive vice president now owns 313,072 shares of the company’s stock, valued at $1,205,327.20. This represents a 6.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 13.16% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on RIG. Benchmark restated a “hold” rating on shares of Transocean in a research report on Tuesday, December 3rd. Citigroup lowered their price objective on shares of Transocean from $4.50 to $3.50 and set a “neutral” rating on the stock in a research report on Wednesday, March 19th. TD Cowen cut their target price on shares of Transocean from $6.50 to $5.50 and set a “hold” rating for the company in a research report on Wednesday, January 8th. SEB Equity Research set a $2.80 target price on Transocean in a research note on Wednesday, March 5th. Finally, Barclays dropped their price target on Transocean from $4.50 to $4.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Transocean has a consensus rating of “Hold” and an average target price of $5.23.

Transocean 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.