HighTower Advisors LLC Sells 13,958 Shares of Transocean Ltd. (RIG)

HighTower Advisors LLC lowered its position in shares of Transocean Ltd. (NYSE:RIG) by 14.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 80,242 shares of the offshore drilling services provider’s stock after selling 13,958 shares during the period. HighTower Advisors LLC’s holdings in Transocean were worth $996,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of RIG. Russell Investments Group Ltd. acquired a new stake in shares of Transocean during the fourth quarter worth about $874,000. Comerica Bank boosted its stake in shares of Transocean by 11.2% in the fourth quarter. Comerica Bank now owns 134,434 shares of the offshore drilling services provider’s stock worth $2,081,000 after buying an additional 13,575 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Transocean by 13.8% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,316 shares of the offshore drilling services provider’s stock worth $329,000 after buying an additional 2,699 shares during the last quarter. Federated Investors Inc. PA acquired a new stake in shares of Transocean during the fourth quarter worth about $101,000. Finally, FMR LLC boosted its stake in shares of Transocean by 14.4% in the fourth quarter. FMR LLC now owns 168,393 shares of the offshore drilling services provider’s stock worth $2,482,000 after buying an additional 21,218 shares during the last quarter. 67.52% of the stock is currently owned by institutional investors and hedge funds.

Shares of Transocean Ltd. (NYSE RIG) traded up 6.47% during trading on Wednesday, hitting $8.89. 13,814,529 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $8.47 and a 200-day moving average price of $11.66. Transocean Ltd. has a one year low of $7.67 and a one year high of $16.66. The stock has a market cap of $3.48 billion, a P/E ratio of 5.35 and a beta of 1.67.

Transocean (NYSE:RIG) last issued its quarterly earnings results on Wednesday, May 3rd. The offshore drilling services provider reported $0.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.09. Transocean had a net margin of 17.28% and a return on equity of 2.57%. The business had revenue of $785 million for the quarter, compared to analyst estimates of $737.51 million. Equities research analysts expect that Transocean Ltd. will post ($0.43) EPS for the current fiscal year.

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RIG has been the topic of a number of analyst reports. Jefferies Group LLC lowered their target price on shares of Transocean from $14.50 to $13.00 and set a “hold” rating on the stock in a report on Tuesday, March 21st. Scotiabank reissued a “buy” rating and set a $21.00 target price on shares of Transocean in a report on Wednesday, March 22nd. Tudor Pickering initiated coverage on shares of Transocean in a report on Thursday, March 23rd. They set a “hold” rating on the stock. Deutsche Bank AG lowered their target price on shares of Transocean from $8.00 to $7.00 and set a “hold” rating on the stock in a report on Tuesday, April 18th. Finally, BMO Capital Markets reissued a “sell” rating and set a $10.00 target price on shares of Transocean in a report on Tuesday, April 18th. Fifteen research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have given a buy rating to the stock. Transocean has an average rating of “Hold” and a consensus target price of $12.86.

In other Transocean news, SVP David A. Tonnel sold 9,450 shares of the stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $11.28, for a total transaction of $106,596.00. Following the transaction, the senior vice president now directly owns 54,845 shares of the company’s stock, valued at $618,651.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Transocean Company Profile

Transocean Ltd. is an international provider of offshore contract drilling services for oil and gas wells. The Company’s primary business is to contract its drilling rigs, related equipment and work crews on a dayrate basis to drill oil and gas wells. As of February 9, 2017, it owned or had partial ownership interests in and operated 56 mobile offshore drilling units.

Institutional Ownership by Quarter for Transocean (NYSE:RIG)

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