Private Advisor Group LLC Raises Holdings in Transocean Ltd. (RIG)
Private Advisor Group LLC grew its holdings in shares of Transocean Ltd. (NYSE:RIG) by 22.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 29,899 shares of the offshore drilling services provider’s stock after purchasing an additional 5,513 shares during the period. Private Advisor Group LLC’s holdings in Transocean were worth $314,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Public Employees Retirement Association of Colorado raised its holdings in shares of Transocean by 12.7% during the second quarter. Public Employees Retirement Association of Colorado now owns 12,340 shares of the offshore drilling services provider’s stock worth $102,000 after purchasing an additional 1,394 shares during the period. Dumont & Blake Investment Advisors LLC acquired a new stake in shares of Transocean during the third quarter worth $108,000. Capstone Investment Advisors Netherlands B.V. acquired a new stake in shares of Transocean during the second quarter worth $111,000. Dupont Capital Management Corp acquired a new stake in shares of Transocean during the second quarter worth $113,000. Finally, Saratoga Research & Investment Management acquired a new stake in shares of Transocean during the third quarter worth $115,000. 73.09% of the stock is currently owned by institutional investors.
Transocean Ltd. (NYSE:RIG) traded down $0.33 during trading hours on Thursday, hitting $9.82. 10,008,000 shares of the stock traded hands, compared to its average volume of 13,720,112. Transocean Ltd. has a one year low of $7.20 and a one year high of $16.16. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.13 and a current ratio of 2.36. The company has a market cap of $3,970.81, a price-to-earnings ratio of 12.69 and a beta of 1.80.
Transocean (NYSE:RIG) last posted its quarterly earnings data on Wednesday, November 1st. The offshore drilling services provider reported $0.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.20. Transocean had a negative net margin of 84.09% and a positive return on equity of 2.10%. The company had revenue of $808.00 million during the quarter, compared to analyst estimates of $703.13 million. During the same quarter last year, the firm posted $0.25 EPS. The business’s revenue for the quarter was down 10.8% on a year-over-year basis. equities analysts forecast that Transocean Ltd. will post -0.34 earnings per share for the current year.
A number of brokerages have weighed in on RIG. Pareto Securities raised shares of Transocean from a “hold” rating to a “buy” rating in a report on Friday, August 18th. ValuEngine raised shares of Transocean from a “hold” rating to a “buy” rating in a report on Thursday, November 2nd. BMO Capital Markets set a $7.00 price objective on shares of Transocean and gave the stock a “sell” rating in a report on Wednesday, October 18th. Royal Bank of Canada set a $11.00 price objective on shares of Transocean and gave the stock a “hold” rating in a report on Sunday, November 12th. Finally, Zacks Investment Research raised shares of Transocean from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a report on Tuesday, October 3rd. Eleven investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $12.31.
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.
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