SG Americas Securities LLC Sells 566,196 Shares of Transocean Ltd. $RIG

SG Americas Securities LLC trimmed its position in Transocean Ltd. (NYSE:RIG) by 91.3% during the 1st quarter, Holdings Channel reports. The institutional investor owned 54,204 shares of the offshore drilling services provider’s stock after selling 566,196 shares during the period. SG Americas Securities LLC’s holdings in Transocean were worth $359,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. TD Waterhouse Canada Inc. increased its holdings in Transocean by 22,432.1% during the 4th quarter. TD Waterhouse Canada Inc. now owns 6,309 shares of the offshore drilling services provider’s stock valued at $26,000 after purchasing an additional 6,281 shares during the period. Flagship Harbor Advisors LLC purchased a new stake in Transocean in the 4th quarter worth approximately $27,000. Forteris Wealth Management Inc. bought a new stake in shares of Transocean in the 4th quarter worth approximately $41,000. Keudell Morrison Wealth Management purchased a new position in shares of Transocean during the fourth quarter valued at approximately $41,000. Finally, Josh Arnold Investment Consultant LLC bought a new position in shares of Transocean during the second quarter valued at approximately $26,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Clarkson Capital downgraded shares of Transocean from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 19th. Susquehanna reduced their price target on shares of Transocean from $8.00 to $7.00 and set a “positive” rating on the stock in a research report on Wednesday. TD Cowen increased their price target on shares of Transocean from $5.50 to $6.00 and gave the stock a “hold” rating in a research note on Wednesday, May 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Transocean in a report on Tuesday, April 21st. Finally, Barclays raised Transocean from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $6.00 to $8.00 in a research report on Thursday, May 7th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $6.82.

Insider Activity

In related news, Director Chad C. Deaton purchased 35,000 shares of the stock in a transaction dated Thursday, July 2nd. The stock was purchased at an average price of $4.95 per share, with a total value of $173,250.00. Following the transaction, the director directly owned 237,421 shares in the company, valued at $1,175,233.95. This trade represents a 17.29% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 9.70% of the stock is currently owned by corporate insiders.

Transocean Stock Performance

Shares of RIG opened at $5.13 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.54 and a debt-to-equity ratio of 0.60. The stock has a market cap of $5.73 billion, a P/E ratio of -1.72 and a beta of 1.30. The business’s 50 day moving average price is $6.00 and its 200-day moving average price is $5.76. Transocean Ltd. has a 52 week low of $2.53 and a 52 week high of $7.66.

Transocean (NYSE:RIG) last posted its quarterly earnings data on Monday, May 4th. The offshore drilling services provider reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.10). Transocean had a negative net margin of 66.79% and a positive return on equity of 0.88%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period last year, the business earned ($0.10) EPS. The firm’s quarterly revenue was up 19.3% on a year-over-year basis. Equities research analysts anticipate that Transocean Ltd. will post 0.16 earnings per share for the current fiscal year.

Transocean Company Profile

Transocean Ltd. is a leading international provider of offshore contract drilling services for the oil and gas industry. The company specializes in the operation of mobile drilling units, including ultra-deepwater drillships, semisubmersible rigs and high-specification jackup rigs. Transocean’s fleet is designed to meet complex drilling requirements, from ultra-deepwater well construction to shelf exploration and development projects.

The company’s core services encompass the full spectrum of offshore drilling operations, including project and engineering management, marine operations, drilling supervision, and maintenance support.