Transocean Ltd. (NYSE:RIG) Shares Sold by Moors & Cabot Inc.

Moors & Cabot Inc. lessened its stake in shares of Transocean Ltd. (NYSE:RIG) by 33.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 26,825 shares of the offshore drilling services provider’s stock after selling 13,600 shares during the period. Moors & Cabot Inc.’s holdings in Transocean were worth $101,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Oppenheimer Asset Management Inc. grew its stake in Transocean by 10.9% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 25,170 shares of the offshore drilling services provider’s stock valued at $107,000 after acquiring an additional 2,469 shares in the last quarter. Ballentine Partners LLC grew its stake in Transocean by 19.4% during the 4th quarter. Ballentine Partners LLC now owns 18,247 shares of the offshore drilling services provider’s stock valued at $68,000 after acquiring an additional 2,963 shares in the last quarter. Pallas Capital Advisors LLC grew its stake in Transocean by 25.6% during the 4th quarter. Pallas Capital Advisors LLC now owns 15,332 shares of the offshore drilling services provider’s stock valued at $57,000 after acquiring an additional 3,127 shares in the last quarter. Kovitz Investment Group Partners LLC grew its stake in Transocean by 34.0% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 15,877 shares of the offshore drilling services provider’s stock valued at $62,000 after acquiring an additional 4,027 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in Transocean by 96.2% during the 4th quarter. Blue Trust Inc. now owns 9,841 shares of the offshore drilling services provider’s stock valued at $37,000 after acquiring an additional 4,826 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Roderick James Mackenzie sold 22,000 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $3.85, for a total value of $84,700.00. Following the sale, the executive vice president now directly owns 313,072 shares in the company, valued at approximately $1,205,327.20. This trade represents a 6.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 13.16% of the stock is owned by company insiders.

Analysts Set New Price Targets

RIG has been the subject of several research reports. Benchmark reaffirmed a “hold” rating on shares of Transocean in a research note on Tuesday, December 3rd. Evercore ISI cut shares of Transocean from an “outperform” rating to an “in-line” rating and dropped their price target for the company from $6.00 to $5.00 in a research note on Wednesday, January 15th. SEB Equity Research set a $2.80 price target on shares of Transocean in a research note on Wednesday, March 5th. TD Cowen dropped their price target on shares of Transocean from $6.50 to $5.50 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Finally, Barclays dropped their price target on shares of Transocean from $4.50 to $4.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $5.42.

Transocean Price Performance

Transocean stock opened at $3.04 on Monday. The firm has a market cap of $2.67 billion, a PE ratio of -4.16, a price-to-earnings-growth ratio of 0.86 and a beta of 2.72. Transocean Ltd. has a 52-week low of $2.55 and a 52-week high of $6.88. 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 company’s 50 day moving average is $3.58 and its two-hundred day moving average is $3.98.

Transocean (NYSE:RIG) last released its earnings results on Monday, February 17th. The offshore drilling services provider reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.11). The business had revenue of $952.00 million for the quarter, compared to analyst estimates of $962.28 million. Transocean had a negative return on equity of 0.52% and a negative net margin of 14.53%. On average, research analysts expect that Transocean Ltd. will post 0.14 EPS for the current fiscal year.

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.