Thompson Davis & CO. Inc. acquired a new stake in Transocean Ltd. (NYSE:RIG – Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 24,025 shares of the offshore drilling services provider’s stock, valued at approximately $90,000.
Other large investors have also recently bought and sold shares of the company. Blue Trust Inc. boosted its position 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 worth $37,000 after acquiring an additional 4,826 shares during the last quarter. Adero Partners LLC bought a new stake in Transocean in the 4th quarter valued at $38,000. Stratos Wealth Partners LTD. bought a new stake in Transocean in the 4th quarter valued at $40,000. R Squared Ltd bought a new stake in Transocean in the 4th quarter valued at $41,000. Finally, Transcend Capital Advisors LLC bought a new position in Transocean during the 4th quarter worth $41,000. Institutional investors and hedge funds own 67.73% of the company’s stock.
Insider Activity at Transocean
In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of the business’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $3.85, for a total value of $84,700.00. Following the transaction, the executive vice president now owns 313,072 shares of the company’s stock, valued at approximately $1,205,327.20. The trade was a 6.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 13.16% of the stock is owned by insiders.
Transocean Trading Down 5.5 %
Transocean (NYSE:RIG – Get Free Report) last announced its earnings results on Monday, February 17th. The offshore drilling services provider reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.11). The company had revenue of $952.00 million for the quarter, compared to analysts’ expectations of $962.28 million. Transocean had a negative net margin of 14.53% and a negative return on equity of 0.52%. On average, analysts predict that Transocean Ltd. will post 0.14 earnings per share for the current year.
Wall Street Analyst Weigh In
Several research firms have weighed in on RIG. Susquehanna lowered their price objective on Transocean from $7.00 to $6.50 and set a “positive” rating on the stock in a research report on Friday, November 1st. Benchmark reaffirmed a “hold” rating on shares of Transocean in a research note on Tuesday, December 3rd. TD Cowen reduced their price objective on Transocean from $6.50 to $5.50 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. raised Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 price target on the stock in a research note on Friday, December 6th. Finally, Evercore ISI downgraded Transocean from an “outperform” rating to an “in-line” rating and lowered their price objective for the stock from $6.00 to $5.00 in a research report on Wednesday, January 15th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Transocean has a consensus rating of “Hold” and an average target price of $5.81.
View Our Latest Research Report on RIG
Transocean 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.
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