Prospera Financial Services Inc Sells 9,250 Shares of Transocean Ltd. (NYSE:RIG)

Prospera Financial Services Inc lessened its holdings in shares of Transocean Ltd. (NYSE:RIG) by 5.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 161,065 shares of the offshore drilling services provider’s stock after selling 9,250 shares during the period. Prospera Financial Services Inc’s holdings in Transocean were worth $685,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its stake 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 valued at $433,208,000 after buying an additional 429,950 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in Transocean by 63.4% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 365,667 shares of the offshore drilling services provider’s stock valued at $2,296,000 after acquiring an additional 141,927 shares in the last quarter. California State Teachers Retirement System boosted its stake in Transocean by 4.1% in the 1st quarter. California State Teachers Retirement System now owns 654,772 shares of the offshore drilling services provider’s stock worth $4,112,000 after purchasing an additional 25,537 shares during the period. Castleark Management LLC increased its holdings in Transocean by 823.5% during the 1st quarter. Castleark Management LLC now owns 417,600 shares of the offshore drilling services provider’s stock worth $2,623,000 after purchasing an additional 372,380 shares in the last quarter. Finally, Jaffetilchin Investment Partners LLC acquired a new stake in shares of Transocean in the 1st quarter valued at about $193,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RIG has been the subject of a number of research reports. Morgan Stanley increased their price objective on Transocean from $5.00 to $6.00 and gave the stock an “equal weight” rating in a report on Thursday, October 3rd. Benchmark cut shares of Transocean from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th. Barclays lowered their price objective on shares of Transocean from $6.00 to $4.50 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. StockNews.com upgraded shares of Transocean to a “sell” rating in a report on Tuesday, November 12th. Finally, Citigroup lowered shares of Transocean from a “buy” rating to a “neutral” rating in a research note on Thursday, September 12th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $6.63.

Transocean Stock Up 3.0 %

Transocean stock opened at $4.47 on Friday. Transocean Ltd. has a fifty-two week low of $3.85 and a fifty-two week high of $6.88. The firm has a market capitalization of $3.91 billion, a PE ratio of -5.96 and a beta of 2.78. The company’s 50-day moving average is $4.34 and its 200-day moving average is $4.95. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.64 and a quick ratio of 1.34.

Insiders Place Their Bets

In related news, Director Perestroika bought 1,500,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was bought at an average price of $4.13 per share, for a total transaction of $6,195,000.00. Following the purchase, the director now owns 91,074,894 shares in the company, valued at $376,139,312.22. This represents a 1.67 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Roderick James Mackenzie sold 20,000 shares of Transocean stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $4.29, for a total transaction of $85,800.00. Following the sale, the executive vice president now directly owns 310,857 shares of the company’s stock, valued at $1,333,576.53. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. Company 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.