Wealth Enhancement Advisory Services LLC Reduces Holdings in Transocean Ltd. (NYSE:RIG)

Wealth Enhancement Advisory Services LLC reduced its holdings in shares of Transocean Ltd. (NYSE:RIG) by 26.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,487 shares of the offshore drilling services provider’s stock after selling 7,321 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Transocean were worth $87,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Transocean by 0.6% during the 1st 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 during the last quarter. Primecap Management Co. CA boosted its stake in shares of Transocean by 0.7% during the 2nd quarter. Primecap Management Co. CA now owns 56,119,489 shares of the offshore drilling services provider’s stock worth $300,239,000 after purchasing an additional 375,450 shares during the last quarter. Capital World Investors boosted its stake in shares of Transocean by 18.8% during the 1st quarter. Capital World Investors now owns 46,334,990 shares of the offshore drilling services provider’s stock worth $290,984,000 after purchasing an additional 7,320,672 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Transocean by 19.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 36,725,995 shares of the offshore drilling services provider’s stock worth $196,484,000 after purchasing an additional 5,856,414 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Transocean by 18.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 16,858,264 shares of the offshore drilling services provider’s stock worth $90,192,000 after purchasing an additional 2,606,017 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Barclays decreased their target price on shares of Transocean from $6.00 to $4.50 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. Citigroup cut shares of Transocean from a “buy” rating to a “neutral” rating in a research report on Thursday, September 12th. Susquehanna reduced their price target on shares of Transocean from $7.00 to $6.50 and set a “positive” rating on the stock in a research report on Friday, November 1st. Benchmark cut shares of Transocean from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th. Finally, StockNews.com raised shares of Transocean to a “sell” rating in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Transocean presently has a consensus rating of “Hold” and an average price target of $6.63.

Insider Activity

In other news, Director Perestroika purchased 1,500,000 shares of Transocean stock in a transaction dated Thursday, September 12th. The stock was bought at an average price of $4.13 per share, with a total value of $6,195,000.00. Following the completion of the acquisition, the director now owns 91,074,894 shares in the company, valued at $376,139,312.22. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 13.16% of the company’s stock.

Transocean Stock Performance

Transocean stock opened at $4.24 on Thursday. The company has a market cap of $3.71 billion, a PE ratio of -5.65 and a beta of 2.78. The company has a fifty day moving average price of $4.31 and a two-hundred day moving average price of $5.01. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.64 and a quick ratio of 1.34. Transocean Ltd. has a 12 month low of $3.85 and a 12 month high of $6.88.

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.