1,502,697 Shares of Transocean Ltd. $RIG Bought by Forvis Mazars Wealth Advisors LLC

Forvis Mazars Wealth Advisors LLC bought a new stake in Transocean Ltd. (NYSE:RIG) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,502,697 shares of the offshore drilling services provider’s stock, valued at approximately $7,874,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sax Wealth Advisors LLC bought a new stake in Transocean during the third quarter worth about $90,000. GAMMA Investing LLC bought a new position in Transocean in the third quarter valued at approximately $88,000. Farther Finance Advisors LLC bought a new position in Transocean in the third quarter valued at approximately $642,000. Versant Capital Management Inc increased its position in shares of Transocean by 15.6% during the 3rd quarter. Versant Capital Management Inc now owns 15,550 shares of the offshore drilling services provider’s stock worth $81,000 after purchasing an additional 2,099 shares during the last quarter. Finally, State Street Corp increased its position in shares of Transocean by 8.7% during the 2nd quarter. State Street Corp now owns 27,148,850 shares of the offshore drilling services provider’s stock worth $132,758,000 after purchasing an additional 2,166,646 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Barclays dropped their price objective on Transocean from $8.00 to $7.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 12th. Susquehanna decreased their target price on shares of Transocean from $8.00 to $7.00 and set a “positive” rating for the company in a research note on Wednesday, July 8th. Zacks Research upgraded shares of Transocean from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Transocean in a research report on Friday, July 17th. Finally, Fearnley Fonds raised shares of Transocean from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, four have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $6.68.

Transocean Stock Performance

NYSE:RIG traded up $0.04 during mid-day trading on Tuesday, hitting $5.64. The stock had a trading volume of 37,550,270 shares, compared to its average volume of 40,459,813. Transocean Ltd. has a twelve month low of $3.10 and a twelve month high of $7.66. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.27 and a current ratio of 1.59. The stock has a market cap of $6.30 billion, a price-to-earnings ratio of -3.00, a PEG ratio of 4.07 and a beta of 1.41. The company’s 50 day simple moving average is $5.62 and its 200 day simple moving average is $5.85.

Transocean (NYSE:RIG) last announced its quarterly earnings results on Wednesday, August 5th. The offshore drilling services provider reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The firm had revenue of $966.00 million for the quarter, compared to the consensus estimate of $956.64 million. Transocean had a positive return on equity of 2.60% and a negative net margin of 40.24%. The business’s revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.06) earnings per share. On average, equities research analysts forecast that Transocean Ltd. will post 0.18 earnings per share for the current year.

Transocean Profile

Transocean Ltd. is an offshore contract drilling company that provides drilling services to the international oil and gas industry. The company operates a fleet of mobile offshore drilling units, including ultra-deepwater and harsh-environment drillships and semisubmersible rigs, which are contracted by energy companies to drill exploration, appraisal and development wells.

Transocean’s services support offshore drilling programs in challenging environments around the world. Its operations have included activity in the Gulf of Mexico, Brazil, the North Sea, West Africa and other major offshore regions.