Transocean Ltd. $RIG Shares Purchased by HighTower Advisors LLC

HighTower Advisors LLC increased its holdings in shares of Transocean Ltd. (NYSE:RIG) by 2,662.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,562,314 shares of the offshore drilling services provider’s stock after acquiring an additional 1,505,755 shares during the quarter. HighTower Advisors LLC owned about 0.14% of Transocean worth $4,874,000 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 stock. Josh Arnold Investment Consultant LLC acquired a new stake in Transocean during the second quarter worth about $26,000. Blueshift Asset Management LLC acquired a new position in Transocean in the 2nd quarter valued at about $27,000. SBI Securities Co. Ltd. grew its holdings in shares of Transocean by 78.0% in the second quarter. SBI Securities Co. Ltd. now owns 10,729 shares of the offshore drilling services provider’s stock valued at $28,000 after purchasing an additional 4,700 shares in the last quarter. Benedict Financial Advisors Inc. acquired a new stake in shares of Transocean in the third quarter valued at $31,000. Finally, NFP Retirement Inc. purchased a new position in shares of Transocean in the 2nd quarter valued at about $32,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Roderick James Mackenzie sold 35,000 shares of Transocean stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $4.48, for a total transaction of $156,800.00. Following the completion of the transaction, the executive vice president directly owned 212,072 shares of the company’s stock, valued at approximately $950,082.56. The trade was a 14.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Keelan Adamson sold 58,687 shares of the business’s stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $5.00, for a total value of $293,435.00. Following the sale, the chief executive officer owned 1,222,182 shares in the company, valued at approximately $6,110,910. The trade was a 4.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 182,970 shares of company stock valued at $863,432. Insiders own 12.54% of the company’s stock.

Transocean Price Performance

Transocean stock opened at $6.53 on Wednesday. The company has a market cap of $7.19 billion, a P/E ratio of -2.07 and a beta of 1.46. Transocean Ltd. has a one year low of $1.97 and a one year high of $6.96. The business has a fifty day moving average of $4.85 and a two-hundred day moving average of $4.02. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.27 and a current ratio of 1.56.

Transocean (NYSE:RIG) last announced its quarterly earnings results on Thursday, February 19th. The offshore drilling services provider reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.07). Transocean had a negative net margin of 73.52% and a positive return on equity of 0.41%. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the prior year, the business earned ($0.09) EPS. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, analysts predict that Transocean Ltd. will post 0.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Morgan Stanley boosted their target price on shares of Transocean from $4.50 to $5.00 and gave the stock an “equal weight” rating in a research note on Monday. Susquehanna boosted their price target on Transocean from $6.50 to $7.50 and gave the company a “positive” rating in a research report on Monday. Citigroup lifted their target price on Transocean from $4.25 to $4.50 and gave the company a “neutral” rating in a research note on Thursday, December 11th. Pareto Securities cut Transocean from a “hold” rating to a “sell” rating and set a $5.25 price target for the company. in a research note on Tuesday, February 10th. Finally, Barclays lowered shares of Transocean from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $4.50 to $6.00 in a research report on Wednesday, February 18th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $5.86.

Transocean Profile

Transocean Ltd. is a leading international provider of offshore contract drilling services for the oil and gas industry. The company specializes in the operation of mobile drilling units, including ultra-deepwater drillships, semisubmersible rigs and high-specification jackup rigs. Transocean’s fleet is designed to meet complex drilling requirements, from ultra-deepwater well construction to shelf exploration and development projects.

The company’s core services encompass the full spectrum of offshore drilling operations, including project and engineering management, marine operations, drilling supervision, and maintenance support.