2,111,329 Shares in Transocean Ltd. $RIG Acquired by Trek Financial LLC

Trek Financial LLC bought a new stake in Transocean Ltd. (NYSE:RIG) during the 3rd quarter, Holdings Channel.com reports. The firm bought 2,111,329 shares of the offshore drilling services provider’s stock, valued at approximately $11,063,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in RIG. EverSource Wealth Advisors LLC raised its holdings in Transocean by 27.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 6,536 shares of the offshore drilling services provider’s stock worth $43,000 after purchasing an additional 1,391 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of Transocean by 15.6% in the 3rd quarter. Versant Capital Management Inc now owns 15,550 shares of the offshore drilling services provider’s stock worth $81,000 after purchasing an additional 2,099 shares during the period. Rockefeller Capital Management L.P. boosted its stake in shares of Transocean by 19.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 24,497 shares of the offshore drilling services provider’s stock valued at $101,000 after purchasing an additional 4,043 shares during the last quarter. Private Advisor Group LLC boosted its stake in shares of Transocean by 16.4% in the 1st quarter. Private Advisor Group LLC now owns 31,876 shares of the offshore drilling services provider’s stock valued at $211,000 after purchasing an additional 4,500 shares during the last quarter. Finally, Root Financial Partners LLC increased its position in shares of Transocean by 192.6% during the first quarter. Root Financial Partners LLC now owns 7,787 shares of the offshore drilling services provider’s stock worth $52,000 after buying an additional 5,126 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on RIG. Barclays lowered their target price on shares of Transocean from $8.00 to $7.00 and set an “overweight” rating for the company in a research note on Wednesday, August 12th. Fearnley Fonds raised shares of Transocean from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. Zacks Research upgraded Transocean from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Transocean in a report on Thursday, October 15th. Finally, Susquehanna lowered their price objective on Transocean from $8.00 to $7.00 and set a “positive” rating for the company in a research report on Wednesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $6.68.

Transocean Price Performance

Transocean stock opened at $6.94 on Monday. The stock has a market capitalization of $7.75 billion, a price-to-earnings ratio of -3.69, a PEG ratio of 5.08 and a beta of 1.41. Transocean Ltd. has a 52-week low of $3.68 and a 52-week high of $7.66. The stock’s 50 day moving average price is $5.76 and its two-hundred day moving average price is $5.83. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.27 and a current ratio of 1.59.

Transocean (NYSE:RIG) last released its quarterly earnings data on Wednesday, August 5th. The offshore drilling services provider reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.02. Transocean had a negative net margin of 40.24% and a positive return on equity of 2.60%. The company had revenue of $966.00 million during the quarter, compared to analyst estimates of $956.64 million. During the same quarter in the previous year, the business posted ($1.06) EPS. Transocean’s revenue for the quarter was down 2.2% compared to the same quarter last year. On average, equities analysts predict that Transocean Ltd. will post 0.18 earnings per share for the current year.

Transocean Company Profile

Transocean Ltd. is an offshore drilling contractor that provides drilling services to international oil and gas companies. The company specializes in ultra-deepwater and harsh-environment drilling, helping customers explore for and develop offshore energy resources.

Transocean owns and operates a fleet of mobile offshore drilling units, including ultra-deepwater drillships and semisubmersible rigs. Its services generally include contract drilling, rig operations, well-construction support, and related offshore drilling management.

With roots tracing back to the 1920s, Transocean serves customers in major offshore energy regions around the world.