Transocean Ltd. (NYSE:RIG) Shares Sold by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. decreased its stake in Transocean Ltd. (NYSE:RIG) by 40.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 74,506 shares of the offshore drilling services provider’s stock after selling 51,500 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Transocean were worth $473,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Private Trust Co. NA boosted its stake in Transocean by 1,489.8% in the 4th quarter. Private Trust Co. NA now owns 8,537 shares of the offshore drilling services provider’s stock worth $54,000 after purchasing an additional 8,000 shares during the period. Csenge Advisory Group acquired a new stake in Transocean during the 3rd quarter worth about $83,000. Southern Capital Advisors LLC purchased a new stake in shares of Transocean in the fourth quarter worth approximately $83,000. Joseph P. Lucia & Associates LLC acquired a new stake in shares of Transocean during the third quarter worth approximately $87,000. Finally, Vicus Capital purchased a new position in shares of Transocean during the 4th quarter valued at $88,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. StockNews.com raised shares of Transocean to a “sell” rating in a research report on Tuesday, February 20th. Citigroup decreased their target price on Transocean from $9.00 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, February 21st. Barclays reduced their price objective on shares of Transocean from $7.00 to $6.00 and set an “equal weight” rating for the company in a research note on Thursday, February 22nd. Benchmark reissued a “buy” rating and set a $8.00 target price on shares of Transocean in a research report on Tuesday. Finally, Bank of America raised their price target on Transocean from $5.50 to $6.00 and gave the company an “underperform” rating in a research report on Monday, April 15th. Two analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Transocean currently has a consensus rating of “Hold” and an average price target of $7.78.

Transocean Trading Down 10.4 %

NYSE RIG opened at $5.22 on Wednesday. The stock has a market capitalization of $4.27 billion, a price-to-earnings ratio of -10.03 and a beta of 2.78. Transocean Ltd. has a 52 week low of $4.45 and a 52 week high of $8.88. The stock’s 50 day moving average price is $5.73 and its two-hundred day moving average price is $5.98. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.22 and a current ratio of 1.52.

Transocean (NYSE:RIG) last announced its earnings results on Monday, April 29th. The offshore drilling services provider reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.10. Transocean had a negative net margin of 13.27% and a negative return on equity of 4.68%. The company had revenue of $767.00 million for the quarter, compared to analysts’ expectations of $781.86 million. During the same period last year, the firm earned ($0.38) earnings per share. The business’s revenue for the quarter was up 18.2% on a year-over-year basis. As a group, analysts anticipate that Transocean Ltd. will post 0.05 earnings per share for the current fiscal year.

Transocean Company 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.