International Assets Investment Management LLC Has $255,000 Stock Holdings in Transocean Ltd. (NYSE:RIG)

International Assets Investment Management LLC grew its holdings in Transocean Ltd. (NYSE:RIG) by 16.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,062 shares of the offshore drilling services provider’s stock after purchasing an additional 5,600 shares during the quarter. International Assets Investment Management LLC’s holdings in Transocean were worth $255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. B. Riley Wealth Advisors Inc. lifted its stake in shares of Transocean by 16.2% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 14,371 shares of the offshore drilling services provider’s stock valued at $118,000 after purchasing an additional 2,000 shares during the period. 180 Wealth Advisors LLC raised its stake in Transocean by 7.4% during the 4th quarter. 180 Wealth Advisors LLC now owns 31,496 shares of the offshore drilling services provider’s stock worth $197,000 after buying an additional 2,170 shares during the period. Fisher Asset Management LLC raised its stake in Transocean by 11.0% during the 4th quarter. Fisher Asset Management LLC now owns 27,714 shares of the offshore drilling services provider’s stock worth $176,000 after buying an additional 2,743 shares during the period. OLD Point Trust & Financial Services N A acquired a new position in Transocean during the 4th quarter worth approximately $25,000. Finally, VisionPoint Advisory Group LLC acquired a new position in Transocean during the 4th quarter worth approximately $28,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Evercore ISI dropped their price target on Transocean from $9.00 to $7.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. Benchmark reissued a “buy” rating and set a $8.00 price objective on shares of Transocean in a report on Tuesday, April 30th. Susquehanna raised Transocean from a “neutral” rating to a “positive” rating and boosted their price objective for the stock from $5.50 to $9.00 in a report on Monday, April 8th. Finally, Bank of America upped their target price on Transocean from $5.50 to $6.00 and gave the company an “underperform” rating in a report on Monday, April 15th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Transocean presently has an average rating of “Hold” and an average price target of $7.70.

Insiders Place Their Bets

In related news, Director (Cyprus) Ltd Perestroika bought 2,000,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were purchased at an average price of $6.01 per share, for a total transaction of $12,020,000.00. Following the completion of the transaction, the director now directly owns 87,574,894 shares in the company, valued at approximately $526,325,112.94. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 12.54% of the company’s stock.

Transocean Stock Down 1.8 %

Shares of NYSE RIG opened at $5.05 on Wednesday. The stock has a fifty day simple moving average of $5.66 and a two-hundred day simple moving average of $5.70. Transocean Ltd. has a 1-year low of $4.45 and a 1-year high of $8.88. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.35 and a quick ratio of 1.04.

Transocean (NYSE:RIG) last announced its quarterly earnings data on Monday, April 29th. The offshore drilling services provider reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.10. Transocean had a negative return on equity of 4.67% and a negative net margin of 13.27%. The business had revenue of $767.00 million during the quarter, compared to analyst estimates of $781.86 million. During the same period in the prior year, the company earned ($0.38) earnings per share. Transocean’s revenue was up 18.2% compared to the same quarter last year. Sell-side analysts expect that Transocean Ltd. will post -0.04 EPS for the current fiscal year.

Transocean Profile

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. The company operates a fleet of mobile offshore drilling units, consisting of ultra-deepwater floaters and harsh environment floaters.