Commonwealth Equity Services LLC Has $1.15 Million Position in Transocean Ltd. (NYSE:RIG)

Commonwealth Equity Services LLC decreased its position in Transocean Ltd. (NYSE:RIG) by 9.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 214,419 shares of the offshore drilling services provider’s stock after selling 23,073 shares during the period. Commonwealth Equity Services LLC’s holdings in Transocean were worth $1,147,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Transocean by 0.6% in the first quarter. Vanguard Group Inc. now owns 68,982,142 shares of the offshore drilling services provider’s stock worth $433,208,000 after purchasing an additional 429,950 shares in the last quarter. Primecap Management Co. CA grew its position in Transocean by 11.4% in the fourth quarter. Primecap Management Co. CA now owns 50,699,389 shares of the offshore drilling services provider’s stock valued at $321,941,000 after acquiring an additional 5,168,000 shares during the period. Capital World Investors raised its stake in Transocean by 18.8% during the first quarter. Capital World Investors now owns 46,334,990 shares of the offshore drilling services provider’s stock worth $290,984,000 after acquiring an additional 7,320,672 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Transocean by 7.0% during the first quarter. Van ECK Associates Corp now owns 17,013,964 shares of the offshore drilling services provider’s stock valued at $106,848,000 after acquiring an additional 1,105,747 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Transocean by 18.3% in the second quarter. Bank of New York Mellon Corp now owns 16,858,264 shares of the offshore drilling services provider’s stock valued at $90,192,000 after buying an additional 2,606,017 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on RIG. Benchmark restated a “buy” rating and set a $8.00 target price on shares of Transocean in a report on Friday, August 2nd. Citigroup cut shares of Transocean from a “buy” rating to a “neutral” rating in a research report on Thursday, September 12th. Morgan Stanley reduced their target price on shares of Transocean from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Monday. DNB Markets upgraded shares of Transocean from a “hold” rating to a “buy” rating in a research report on Tuesday, September 3rd. Finally, StockNews.com upgraded Transocean to a “sell” rating in a research report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Transocean currently has an average rating of “Hold” and an average target price of $7.00.

Transocean Trading Up 7.6 %

NYSE RIG opened at $4.45 on Tuesday. The company has a current ratio of 1.36, a quick ratio of 1.08 and a debt-to-equity ratio of 0.63. Transocean Ltd. has a 12 month low of $3.85 and a 12 month high of $8.71. The company has a market capitalization of $4.18 billion, a PE ratio of -8.55 and a beta of 2.79. The stock has a 50-day simple moving average of $5.00 and a 200 day simple moving average of $5.46.

Transocean (NYSE:RIG) last posted its earnings results on Wednesday, July 31st. The offshore drilling services provider reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.07). Transocean had a negative return on equity of 4.76% and a negative net margin of 11.34%. The firm had revenue of $861.00 million during the quarter, compared to analyst estimates of $862.25 million. During the same quarter last year, the business posted ($0.15) earnings per share. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. Research analysts forecast that Transocean Ltd. will post -0.19 EPS for the current year.

Insider Buying and Selling at Transocean

In other Transocean news, Director (Cyprus) Ltd Perestroika purchased 2,000,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were bought at an average price of $5.23 per share, with a total value of $10,460,000.00. Following the completion of the transaction, the director now directly owns 89,574,894 shares in the company, valued at approximately $468,476,695.62. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director (Cyprus) Ltd Perestroika acquired 2,000,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average cost of $5.23 per share, for a total transaction of $10,460,000.00. Following the completion of the acquisition, the director now directly owns 89,574,894 shares in the company, valued at approximately $468,476,695.62. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Perestroika bought 1,500,000 shares of Transocean stock in a transaction that occurred on Thursday, September 12th. The stock was bought at an average cost of $4.13 per share, with a total value of $6,195,000.00. Following the completion of the purchase, the director now owns 91,074,894 shares in the company, valued at approximately $376,139,312.22. The disclosure for this purchase can be found here. Insiders own 13.16% of the company’s stock.

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.