Oppenheimer Asset Management Inc. Has $82,000 Stock Position in Transocean Ltd. (NYSE:RIG)

Oppenheimer Asset Management Inc. lessened its stake in Transocean Ltd. (NYSE:RIG) by 13.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,779 shares of the offshore drilling services provider’s stock after selling 3,391 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Transocean were worth $82,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. raised its stake in Transocean by 96.2% in the 4th quarter. Blue Trust Inc. now owns 9,841 shares of the offshore drilling services provider’s stock valued at $37,000 after acquiring an additional 4,826 shares during the period. Adero Partners LLC bought a new position in Transocean in the fourth quarter valued at $38,000. Stratos Wealth Partners LTD. purchased a new stake in Transocean in the fourth quarter worth approximately $40,000. R Squared Ltd bought a new position in shares of Transocean during the 4th quarter valued at $41,000. Finally, Transcend Capital Advisors LLC bought a new stake in shares of Transocean in the 4th quarter valued at about $41,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

RIG has been the subject of several research analyst reports. StockNews.com upgraded Transocean to a “sell” rating in a report on Tuesday, November 12th. TD Cowen decreased their target price on shares of Transocean from $6.50 to $5.50 and set a “hold” rating for the company in a report on Wednesday, January 8th. Evercore ISI downgraded Transocean from an “outperform” rating to an “in-line” rating and reduced their price objective for the stock from $6.00 to $5.00 in a report on Wednesday, January 15th. Benchmark reiterated a “hold” rating on shares of Transocean in a research report on Tuesday, December 3rd. Finally, Barclays reduced their price objective on Transocean from $4.50 to $4.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Transocean has an average rating of “Hold” and an average target price of $5.75.

Insider Buying and Selling at Transocean

In related news, EVP Roderick James Mackenzie sold 22,000 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $3.85, for a total value of $84,700.00. Following the transaction, the executive vice president now owns 313,072 shares in the company, valued at $1,205,327.20. The trade was a 6.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 13.16% of the stock is owned by insiders.

Transocean Stock Up 9.9 %

NYSE RIG opened at $3.05 on Friday. The company has a market cap of $2.68 billion, a P/E ratio of -4.17, a P/E/G ratio of 0.86 and a beta of 2.70. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.34 and a current ratio of 1.47. Transocean Ltd. has a one year low of $2.55 and a one year high of $6.88. The business has a fifty day moving average price of $3.67 and a 200 day moving average price of $4.07.

Transocean (NYSE:RIG) last issued its quarterly earnings data on Monday, February 17th. The offshore drilling services provider reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.11). Transocean had a negative net margin of 14.53% and a negative return on equity of 0.52%. The company had revenue of $952.00 million during the quarter, compared to analysts’ expectations of $962.28 million. Research analysts anticipate that Transocean Ltd. will post 0.14 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.