Transcend Capital Advisors LLC Invests $41,000 in Transocean Ltd. (NYSE:RIG)

Transcend Capital Advisors LLC bought a new stake in Transocean Ltd. (NYSE:RIG) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,979 shares of the offshore drilling services provider’s stock, valued at approximately $41,000.

Other large investors have also modified their holdings of the company. Blue Trust Inc. increased its holdings 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 buying an additional 4,826 shares during the period. Adero Partners LLC acquired a new stake in shares of Transocean during the 4th quarter valued at about $38,000. Stratos Wealth Partners LTD. bought a new stake in Transocean in the fourth quarter valued at about $40,000. Orion Portfolio Solutions LLC acquired a new position in Transocean in the third quarter worth about $46,000. Finally, R Squared Ltd bought a new position in Transocean during the fourth quarter worth about $41,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. StockNews.com upgraded Transocean to a “sell” rating in a research note on Tuesday, November 12th. Barclays upgraded Transocean from an “equal weight” rating to an “overweight” rating and set a $4.50 price target on the stock in a research report on Wednesday, December 18th. Susquehanna cut their price objective on Transocean from $7.00 to $6.50 and set a “positive” rating for the company in a report on Friday, November 1st. JPMorgan Chase & Co. raised shares of Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 target price on the stock in a report on Friday, December 6th. Finally, Benchmark reiterated a “hold” rating on shares of Transocean in a research report on Tuesday, December 3rd. Two 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 stock. According to data from MarketBeat.com, Transocean currently has a consensus rating of “Hold” and a consensus price target of $5.81.

Transocean Stock Performance

Transocean stock opened at $3.33 on Tuesday. Transocean Ltd. has a 12-month low of $3.28 and a 12-month high of $6.88. The stock has a 50-day simple moving average of $3.78 and a 200 day simple moving average of $4.18. The company has a quick ratio of 1.34, a current ratio of 1.47 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $2.92 billion, a price-to-earnings ratio of -4.56, a P/E/G ratio of 0.86 and a beta of 2.70.

Transocean (NYSE:RIG) last announced its earnings results on Monday, February 17th. The offshore drilling services provider reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $952.00 million during the quarter, compared to the consensus estimate of $962.28 million. On average, research analysts anticipate that Transocean Ltd. will post 0.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Roderick James Mackenzie sold 22,000 shares of the firm’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. This trade represents a 6.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 13.16% of the stock is currently owned by corporate insiders.

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.