Courier Capital LLC Has $144,000 Holdings in Transocean Ltd. (NYSE:RIG)

Courier Capital LLC lifted its position in Transocean Ltd. (NYSE:RIG) by 28.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,738 shares of the offshore drilling services provider’s stock after purchasing an additional 5,031 shares during the quarter. Courier Capital LLC’s holdings in Transocean were worth $144,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RIG. Bank of New York Mellon Corp lifted its stake in Transocean by 1.1% during the first quarter. Bank of New York Mellon Corp now owns 754,540 shares of the offshore drilling services provider’s stock worth $3,449,000 after purchasing an additional 7,953 shares during the period. Cetera Advisor Networks LLC raised its holdings in shares of Transocean by 53.7% in the 1st quarter. Cetera Advisor Networks LLC now owns 39,687 shares of the offshore drilling services provider’s stock worth $181,000 after buying an additional 13,867 shares in the last quarter. BlackRock Inc. lifted its position in shares of Transocean by 15.4% during the 1st quarter. BlackRock Inc. now owns 14,750,703 shares of the offshore drilling services provider’s stock worth $67,413,000 after buying an additional 1,972,278 shares during the period. Great West Life Assurance Co. Can boosted its stake in Transocean by 50.3% in the 1st quarter. Great West Life Assurance Co. Can now owns 94,062 shares of the offshore drilling services provider’s stock valued at $457,000 after buying an additional 31,461 shares in the last quarter. Finally, Cibc World Market Inc. bought a new stake in Transocean in the first quarter valued at $86,000. 67.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RIG. Morgan Stanley cut their price objective on Transocean from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Monday, February 26th. StockNews.com raised shares of Transocean to a “sell” rating in a report on Tuesday, February 20th. Susquehanna decreased their price objective on shares of Transocean from $6.50 to $5.50 and set a “neutral” rating on the stock in a research note on Wednesday, February 21st. Barclays decreased their price target on Transocean from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 22nd. Finally, Citigroup reduced their price objective on Transocean from $9.00 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, February 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $8.06.

Transocean Trading Up 2.3 %

NYSE:RIG opened at $6.26 on Thursday. The company has a quick ratio of 1.22, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. The stock’s fifty day moving average price is $5.35 and its two-hundred day moving average price is $6.31. Transocean Ltd. has a 52-week low of $4.45 and a 52-week high of $8.88.

Transocean (NYSE:RIG) last released its earnings results on Monday, February 19th. The offshore drilling services provider reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.12. The company had revenue of $741.00 million during the quarter, compared to the consensus estimate of $779.17 million. Transocean had a negative return on equity of 7.13% and a negative net margin of 33.69%. During the same quarter in the previous year, the company posted ($0.49) earnings per share. On average, research analysts forecast that Transocean Ltd. will post 0.09 EPS for the current 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.