Commonwealth Equity Services LLC Sells 56,284 Shares of Transocean Ltd. (NYSE:RIG)

Commonwealth Equity Services LLC reduced its position in shares of Transocean Ltd. (NYSE:RIG) by 26.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 159,653 shares of the offshore drilling services provider’s stock after selling 56,284 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Transocean were worth $599,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in Transocean by 7.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,465,534 shares of the offshore drilling services provider’s stock valued at $46,746,000 after acquiring an additional 859,214 shares during the period. Hosking Partners LLP increased its holdings in shares of Transocean by 23.5% in the fourth quarter. Hosking Partners LLP now owns 1,706,143 shares of the offshore drilling services provider’s stock valued at $6,398,000 after purchasing an additional 324,955 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Transocean by 4.1% in the third quarter. Geode Capital Management LLC now owns 17,245,298 shares of the offshore drilling services provider’s stock valued at $73,307,000 after purchasing an additional 680,242 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Transocean by 33.9% during the 4th quarter. Van ECK Associates Corp now owns 15,393,873 shares of the offshore drilling services provider’s stock worth $57,727,000 after buying an additional 3,895,880 shares during the period. Finally, State of New Jersey Common Pension Fund D grew its stake in Transocean by 25.2% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 499,801 shares of the offshore drilling services provider’s stock valued at $1,874,000 after buying an additional 100,691 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on RIG. Evercore ISI cut Transocean from an “outperform” rating to an “in-line” rating and dropped their price target for the stock from $6.00 to $5.00 in a report on Wednesday, January 15th. Citigroup dropped their target price on Transocean from $4.50 to $3.50 and set a “neutral” rating for the company in a report on Wednesday, March 19th. Morgan Stanley decreased their price target on shares of Transocean from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 27th. Barclays cut their price objective on shares of Transocean from $4.50 to $4.00 and set an “overweight” rating for the company in a report on Tuesday, February 25th. Finally, TD Cowen lowered their target price on shares of Transocean from $6.50 to $5.50 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $5.03.

Transocean Stock Down 21.1 %

NYSE RIG opened at $2.15 on Friday. Transocean Ltd. has a fifty-two week low of $2.11 and a fifty-two week high of $6.88. The business has a fifty day moving average price of $3.30 and a two-hundred day moving average price of $3.86. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.47 and a quick ratio of 1.34. The stock has a market capitalization of $1.89 billion, a PE ratio of -2.94, a PEG ratio of 0.86 and a beta of 2.72.

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

Insider Buying and Selling at Transocean

In other news, EVP Roderick James Mackenzie sold 22,000 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $4.05, for a total transaction of $89,100.00. Following the sale, the executive vice president now directly owns 229,596 shares in the company, valued at approximately $929,863.80. The trade was a 8.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 12.54% of the company’s stock.

Transocean Company 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.