RIA Advisory Group LLC Purchases Shares of 15,000 Transocean Ltd. (NYSE:RIG)

RIA Advisory Group LLC purchased a new stake in shares of Transocean Ltd. (NYSE:RIG) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 15,000 shares of the offshore drilling services provider’s stock, valued at approximately $95,000.

Other institutional investors have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its holdings in Transocean by 446.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 10,996 shares of the offshore drilling services provider’s stock worth $27,000 after purchasing an additional 8,984 shares in the last quarter. IHT Wealth Management LLC raised its holdings in Transocean by 38.8% in the 3rd quarter. IHT Wealth Management LLC now owns 16,895 shares of the offshore drilling services provider’s stock worth $42,000 after purchasing an additional 4,719 shares in the last quarter. National Bank of Canada FI raised its holdings in Transocean by 3,800.0% in the 3rd quarter. National Bank of Canada FI now owns 5,850 shares of the offshore drilling services provider’s stock worth $46,000 after purchasing an additional 5,700 shares in the last quarter. Resurgent Financial Advisors LLC bought a new position in Transocean in the 4th quarter worth $46,000. Finally, Pathstone Family Office LLC raised its holdings in Transocean by 160.5% in the 4th quarter. Pathstone Family Office LLC now owns 37,764 shares of the offshore drilling services provider’s stock worth $46,000 after purchasing an additional 23,265 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Transocean Price Performance

Shares of RIG stock opened at $5.67 on Friday. The company has a 50 day moving average price of $5.64 and a 200-day moving average price of $6.08. Transocean Ltd. has a 52 week low of $4.45 and a 52 week high of $8.88. The company has a current ratio of 1.52, a quick ratio of 1.22 and a debt-to-equity ratio of 0.68.

Transocean (NYSE:RIG) last announced its quarterly earnings results on Monday, February 19th. The offshore drilling services provider reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.12. Transocean had a negative net margin of 33.69% and a negative return on equity of 7.13%. The firm had revenue of $741.00 million during the quarter, compared to analyst estimates of $779.17 million. During the same period in the previous year, the business posted ($0.49) earnings per share. On average, sell-side analysts predict that Transocean Ltd. will post 0.02 earnings per share for the current year.

Wall Street Analyst Weigh In

RIG has been the subject of several research reports. Morgan Stanley decreased their price target on shares of Transocean from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Monday, February 26th. Bank of America increased their price target on shares of Transocean from $5.50 to $6.00 and gave the stock an “underperform” rating in a research note on Monday, April 15th. Barclays decreased their price target on shares of Transocean from $7.00 to $6.00 and set an “equal weight” rating for the company in a research note on Thursday, February 22nd. Susquehanna raised shares of Transocean from a “neutral” rating to a “positive” rating and lifted their target price for the stock from $5.50 to $9.00 in a report on Monday, April 8th. Finally, Citigroup decreased their target price on shares of Transocean from $9.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday, February 21st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Transocean has an average rating of “Hold” and an average price target of $8.22.

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.