Mirador Capital Partners LP Buys 19,692 Shares of Transocean Ltd. (NYSE:RIG)

Mirador Capital Partners LP grew its position in shares of Transocean Ltd. (NYSE:RIG) by 16.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 141,968 shares of the offshore drilling services provider’s stock after buying an additional 19,692 shares during the period. Mirador Capital Partners LP’s holdings in Transocean were worth $892,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. OLD Point Trust & Financial Services N A purchased a new position in Transocean in the 4th quarter valued at approximately $25,000. VisionPoint Advisory Group LLC purchased a new stake in Transocean during the 4th quarter worth about $28,000. Private Trust Co. NA boosted its stake in Transocean by 1,489.8% in the 4th quarter. Private Trust Co. NA now owns 8,537 shares of the offshore drilling services provider’s stock worth $54,000 after purchasing an additional 8,000 shares during the period. Fermata Advisors LLC purchased a new position in Transocean during the 1st quarter valued at about $75,000. Finally, First Western Trust Bank bought a new position in shares of Transocean in the fourth quarter valued at approximately $76,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Transocean Stock Down 0.6 %

Shares of RIG traded down $0.03 on Monday, reaching $5.32. The stock had a trading volume of 1,284,677 shares, compared to its average volume of 18,155,025. The firm has a market capitalization of $4.36 billion, a price-to-earnings ratio of -10.21 and a beta of 2.85. The company has a 50-day simple moving average of $5.64 and a 200-day simple moving average of $5.68. Transocean Ltd. has a 12-month low of $4.45 and a 12-month high of $8.88. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.04 and a current ratio of 1.35.

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

Insider Buying and Selling

In other news, Director (Cyprus) Ltd Perestroika purchased 2,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were bought at an average price of $6.01 per share, for a total transaction of $12,020,000.00. Following the purchase, 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 legal filing with the Securities & Exchange Commission, which is available through this link. 12.54% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

RIG has been the subject of a number of research analyst reports. Bank of America lifted their price target on Transocean from $5.50 to $6.00 and gave the company an “underperform” rating in a research report on Monday, April 15th. Benchmark reissued a “buy” rating and set a $8.00 price objective on shares of Transocean in a report on Tuesday, April 30th. Evercore ISI reduced their price target on shares of Transocean from $9.00 to $7.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. Finally, Susquehanna upgraded shares of Transocean from a “neutral” rating to a “positive” rating and lifted their target price for the stock from $5.50 to $9.00 in a research report on Monday, April 8th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Transocean has an average rating of “Hold” and a consensus price target of $7.70.

About Transocean

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.