Trek Financial LLC Has $4.17 Million Stock Position in Transocean Ltd. $RIG

Trek Financial LLC lowered its holdings in shares of Transocean Ltd. (NYSE:RIG) by 38.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,010,186 shares of the offshore drilling services provider’s stock after selling 644,206 shares during the period. Trek Financial LLC’s holdings in Transocean were worth $4,172,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of RIG. Integrated Wealth Concepts LLC raised its holdings in shares of Transocean by 12.1% during the 1st quarter. Integrated Wealth Concepts LLC now owns 69,637 shares of the offshore drilling services provider’s stock worth $221,000 after buying an additional 7,520 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Transocean by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 434,031 shares of the offshore drilling services provider’s stock worth $1,376,000 after buying an additional 18,957 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Transocean by 88.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 12,151,817 shares of the offshore drilling services provider’s stock worth $38,521,000 after buying an additional 5,719,637 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of Transocean by 5.7% during the 2nd quarter. Cetera Investment Advisers now owns 233,984 shares of the offshore drilling services provider’s stock worth $606,000 after buying an additional 12,532 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Transocean by 29.2% during the 2nd quarter. Invesco Ltd. now owns 1,032,774 shares of the offshore drilling services provider’s stock worth $2,675,000 after buying an additional 233,458 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

RIG has been the subject of a number of research analyst reports. Pareto Securities cut Transocean from a “hold” rating to a “sell” rating and set a $5.25 price target for the company. in a report on Tuesday, February 10th. Barclays raised Transocean from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $6.00 to $8.00 in a report on Thursday, May 7th. Susquehanna upped their target price on Transocean from $7.50 to $8.00 and gave the stock a “positive” rating in a report on Tuesday, April 7th. BTIG Research upped their target price on Transocean from $6.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, February 9th. Finally, Morgan Stanley upped their target price on Transocean from $5.00 to $7.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 15th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $6.96.

Transocean Price Performance

Shares of RIG opened at $6.56 on Tuesday. The stock has a market cap of $7.32 billion, a PE ratio of -2.20 and a beta of 1.34. The business has a 50-day simple moving average of $6.40 and a two-hundred day simple moving average of $5.20. The company has a quick ratio of 1.20, a current ratio of 1.54 and a debt-to-equity ratio of 0.60. Transocean Ltd. has a 12-month low of $2.34 and a 12-month high of $7.14.

Transocean (NYSE:RIG) last issued its quarterly earnings results on Monday, May 4th. The offshore drilling services provider reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.10). The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.02 billion. Transocean had a negative net margin of 66.79% and a positive return on equity of 0.88%. The company’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.10) EPS. Analysts anticipate that Transocean Ltd. will post 0.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Transocean

In other news, EVP Roderick James Mackenzie sold 78,370 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $6.36, for a total value of $498,433.20. Following the completion of the sale, the executive vice president owned 268,025 shares of the company’s stock, valued at approximately $1,704,639. This represents a 22.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 9.70% of the company’s stock.

Transocean Company 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.