SRS Capital Advisors Inc. Cuts Stake in Transocean Ltd. (NYSE:RIG)

SRS Capital Advisors Inc. cut its stake in Transocean Ltd. (NYSE:RIG) by 14.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,984 shares of the offshore drilling services provider’s stock after selling 7,987 shares during the quarter. SRS Capital Advisors Inc.’s holdings in Transocean were worth $176,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its position in Transocean by 96.2% in the fourth quarter. Blue Trust Inc. now owns 9,841 shares of the offshore drilling services provider’s stock valued at $37,000 after purchasing an additional 4,826 shares during the period. Adero Partners LLC purchased a new stake in shares of Transocean during the fourth quarter worth about $38,000. Stratos Wealth Partners LTD. purchased a new stake in shares of Transocean during the fourth quarter worth about $40,000. Orion Portfolio Solutions LLC purchased a new stake in shares of Transocean during the third quarter worth about $46,000. Finally, R Squared Ltd purchased a new stake in shares of Transocean during the fourth quarter worth about $41,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Transocean

In other news, EVP Roderick James Mackenzie sold 22,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $3.85, for a total transaction of $84,700.00. Following the completion of the transaction, the executive vice president now directly owns 313,072 shares in the company, valued at approximately $1,205,327.20. The trade was a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 13.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on RIG shares. TD Cowen dropped their target price on Transocean from $6.50 to $5.50 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Evercore ISI lowered Transocean from an “outperform” rating to an “in-line” rating and dropped their target price for the stock from $6.00 to $5.00 in a research report on Wednesday, January 15th. StockNews.com raised Transocean to a “sell” rating in a research report on Tuesday, November 12th. JPMorgan Chase & Co. upgraded Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 price target for the company in a research note on Friday, December 6th. Finally, Barclays decreased their price target on 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 assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $5.75.

Transocean Stock Performance

Shares of RIG stock opened at $2.75 on Wednesday. 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 business has a 50 day moving average of $3.70 and a two-hundred day moving average of $4.09. Transocean Ltd. has a 52 week low of $2.55 and a 52 week high of $6.88. The company has a market cap of $2.41 billion, a P/E ratio of -3.76, a PEG ratio of 0.86 and a beta of 2.70.

Transocean (NYSE:RIG) last issued its earnings results on Monday, February 17th. The offshore drilling services provider reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.11). Transocean had a negative net margin of 14.53% and a negative return on equity of 0.52%. The company had revenue of $952.00 million during the quarter, compared to analyst estimates of $962.28 million. As a group, analysts anticipate that Transocean Ltd. will post 0.14 EPS for the current 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.