Focused Wealth Management Inc cut its stake in shares of Transocean LTD (NYSE:RIG) by 0.2% during the first quarter, Holdings Channel reports. The institutional investor owned 45,609 shares of the offshore drilling services provider’s stock after selling 107 shares during the period. Focused Wealth Management Inc’s holdings in Transocean LTD were worth $568,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently bought and sold shares of the stock. RBF Capital LLC purchased a new position in Transocean LTD during the third quarter valued at about $128,000. Two Sigma Advisers LP boosted its position in Transocean LTD by 207.5% in the third quarter. Two Sigma Advisers LP now owns 363,793 shares of the offshore drilling services provider’s stock valued at $3,878,000 after buying an additional 245,493 shares in the last quarter. Encompass Capital Advisors LLC purchased a new position in Transocean LTD during the third quarter valued at about $10,660,000. Hartford Investment Management Co. boosted its position in Transocean LTD by 4.5% in the third quarter. Hartford Investment Management Co. now owns 95,341 shares of the offshore drilling services provider’s stock valued at $1,016,000 after buying an additional 4,117 shares in the last quarter. Finally, Zweig DiMenna Associates LLC boosted its position in Transocean LTD by 28.8% in the third quarter. Zweig DiMenna Associates LLC now owns 996,287 shares of the offshore drilling services provider’s stock valued at $10,620,000 after buying an additional 222,960 shares in the last quarter. Hedge funds and other institutional investors own 63.84% of the company’s stock.
Transocean LTD (NYSE:RIG) traded up 1.05% on Tuesday, reaching $10.61. 8,622,609 shares of the company’s stock were exchanged. Transocean LTD has a 1-year low of $8.68 and a 1-year high of $16.66. The company has a market capitalization of $4.15 billion, a PE ratio of 6.38 and a beta of 1.87. The company has a 50 day moving average price of $11.29 and a 200-day moving average price of $12.91.
Transocean LTD (NYSE:RIG) last posted its quarterly earnings results on Wednesday, May 3rd. The offshore drilling services provider reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.09. The company had revenue of $785 million during the quarter, compared to analysts’ expectations of $737.51 million. Transocean LTD had a return on equity of 6.80% and a net margin of 23.14%. On average, equities research analysts anticipate that Transocean LTD will post ($0.47) earnings per share for the current year.
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Several research firms recently issued reports on RIG. Piper Jaffray Companies upgraded shares of Transocean LTD from an “underweight” rating to a “neutral” rating and set a $13.70 target price for the company in a research note on Wednesday, January 25th. Jefferies Group LLC boosted their target price on shares of Transocean LTD from $11.00 to $15.00 and gave the company a “hold” rating in a research note on Monday, January 30th. Canaccord Genuity reissued a “buy” rating and issued a $17.00 price target on shares of Transocean LTD in a report on Tuesday, January 24th. Pareto Securities lowered shares of Transocean LTD from a “buy” rating to a “sell” rating and set a $11.00 price target for the company. in a report on Friday, February 24th. Finally, CLSA reissued a “sell” rating on shares of Transocean LTD in a report on Thursday, February 23rd. Fifteen research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eleven have given a buy rating to the stock. Transocean LTD has an average rating of “Hold” and a consensus price target of $13.37.
In other Transocean LTD news, SVP David A. Tonnel sold 9,450 shares of Transocean LTD stock in a transaction dated Thursday, April 27th. The stock was sold at an average price of $11.28, for a total value of $106,596.00. Following the completion of the sale, the senior vice president now owns 54,845 shares in the company, valued at approximately $618,651.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.17% of the stock is owned by insiders.
Transocean LTD Company Profile
Transocean Ltd. is an international provider of offshore contract drilling services for oil and gas wells. The Company’s primary business is to contract its drilling rigs, related equipment and work crews on a dayrate basis to drill oil and gas wells. As of February 9, 2017, it owned or had partial ownership interests in and operated 56 mobile offshore drilling units.
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