Transocean Ltd. (NYSE:RIG) Shares Acquired by 180 Wealth Advisors LLC

180 Wealth Advisors LLC grew its position in Transocean Ltd. (NYSE:RIG) by 40.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 163,531 shares of the offshore drilling services provider’s stock after purchasing an additional 46,795 shares during the quarter. 180 Wealth Advisors LLC’s holdings in Transocean were worth $518,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Optiver Holding B.V. raised its stake in Transocean by 53.6% during the 4th quarter. Optiver Holding B.V. now owns 8,400 shares of the offshore drilling services provider’s stock worth $32,000 after acquiring an additional 2,933 shares in the last quarter. Van Den Berg Management I Inc. raised its stake in Transocean by 11.9% during the 4th quarter. Van Den Berg Management I Inc. now owns 28,155 shares of the offshore drilling services provider’s stock worth $106,000 after acquiring an additional 3,000 shares in the last quarter. Nomura Holdings Inc. raised its stake in Transocean by 11.6% during the 4th quarter. Nomura Holdings Inc. now owns 32,651 shares of the offshore drilling services provider’s stock worth $122,000 after acquiring an additional 3,390 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its stake in Transocean by 23.5% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 19,015 shares of the offshore drilling services provider’s stock worth $71,000 after acquiring an additional 3,620 shares in the last quarter. Finally, Avantax Advisory Services Inc. raised its stake in Transocean by 4.2% during the 4th quarter. Avantax Advisory Services Inc. now owns 107,012 shares of the offshore drilling services provider’s stock worth $401,000 after acquiring an additional 4,285 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on RIG shares. Citigroup cut their price target on shares of Transocean from $4.50 to $3.50 and set a “neutral” rating on the stock in a research note on Wednesday, March 19th. Morgan Stanley lowered their price objective on shares of Transocean from $4.00 to $3.50 and set an “equal weight” rating on the stock in a research report on Friday, May 16th. Susquehanna lowered their price objective on shares of Transocean from $5.00 to $4.00 and set a “positive” rating on the stock in a research report on Monday, April 14th. BTIG Research set a $5.00 price objective on shares of Transocean and gave the stock a “buy” rating in a research report on Monday, May 5th. Finally, SEB Equity Research set a $2.80 price objective on shares of Transocean in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $4.58.

Insider Activity

In related news, EVP Roderick James Mackenzie sold 22,000 shares of the business’s stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $2.23, for a total transaction of $49,060.00. Following the sale, the executive vice president now owns 362,841 shares of the company’s stock, valued at approximately $809,135.43. The trade was a 5.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 12.27% of the company’s stock.

Transocean Stock Down 4.2%

Shares of NYSE:RIG opened at $2.49 on Monday. The company has a market cap of $2.20 billion, a price-to-earnings ratio of -3.41, a PEG ratio of 0.86 and a beta of 2.52. The firm’s 50-day simple moving average is $2.49 and its 200-day simple moving average is $3.28. The company has a quick ratio of 1.34, a current ratio of 1.47 and a debt-to-equity ratio of 0.60. Transocean Ltd. has a fifty-two week low of $1.97 and a fifty-two week high of $6.25.

Transocean (NYSE:RIG) last issued its earnings results on Monday, April 28th. The offshore drilling services provider reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.02. The business had revenue of $906.00 million for the quarter, compared to the consensus estimate of $884.92 million. Transocean had a negative net margin of 14.53% and a negative return on equity of 0.52%. The business’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.03) earnings per share. As a group, equities research analysts predict that Transocean Ltd. will post 0.14 earnings per share for the current year.

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.