Trek Financial LLC Sells 644,206 Shares of Transocean Ltd. $RIG

Trek Financial LLC lessened its holdings in Transocean Ltd. (NYSE:RIG) by 38.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,010,186 shares of the offshore drilling services provider’s stock after selling 644,206 shares during the period. Trek Financial LLC owned 0.09% of Transocean worth $4,172,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Swiss Life Asset Management Ltd boosted its position in Transocean by 33.6% during the fourth quarter. Swiss Life Asset Management Ltd now owns 44,203 shares of the offshore drilling services provider’s stock worth $183,000 after purchasing an additional 11,120 shares during the period. Hosking Partners LLP boosted its position in Transocean by 4.9% during the fourth quarter. Hosking Partners LLP now owns 1,130,657 shares of the offshore drilling services provider’s stock worth $4,670,000 after purchasing an additional 52,735 shares during the period. Nwam LLC boosted its position in Transocean by 15.5% during the fourth quarter. Nwam LLC now owns 32,134 shares of the offshore drilling services provider’s stock worth $146,000 after purchasing an additional 4,304 shares during the period. International Assets Investment Management LLC boosted its position in Transocean by 64.7% during the fourth quarter. International Assets Investment Management LLC now owns 45,322 shares of the offshore drilling services provider’s stock worth $187,000 after purchasing an additional 17,800 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its position in Transocean by 93.9% during the fourth quarter. Sequoia Financial Advisors LLC now owns 32,145 shares of the offshore drilling services provider’s stock worth $133,000 after purchasing an additional 15,566 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on RIG shares. Pareto Securities cut shares of Transocean from a “hold” rating to a “sell” rating and set a $5.25 price objective for the company. in a research report on Tuesday, February 10th. Fearnley Fonds cut shares of Transocean from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 10th. Clarkson Capital cut shares of Transocean from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 19th. Susquehanna lifted their price objective on shares of Transocean from $7.50 to $8.00 and gave the stock a “positive” rating in a research report on Tuesday, April 7th. Finally, Morgan Stanley boosted their price target on Transocean from $5.00 to $7.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 15th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $6.96.

Transocean Stock Performance

NYSE:RIG opened at $6.56 on Tuesday. The stock has a fifty day moving average price of $6.40 and a 200-day moving average price of $5.20. The company has a market cap of $7.32 billion, a price-to-earnings ratio of -2.20 and a beta of 1.34. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.54. Transocean Ltd. has a fifty-two week low of $2.34 and a fifty-two week high of $7.14.

Transocean (NYSE:RIG) last released its earnings results 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). The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.02 billion. Transocean had a negative net margin of 66.79% and a positive return on equity of 0.88%. The business’s revenue was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.10) earnings per share. As a group, equities analysts anticipate that Transocean Ltd. will post 0.21 EPS for the current fiscal year.

Insider Buying and Selling at Transocean

In other news, EVP Roderick James Mackenzie sold 78,370 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $6.36, for a total transaction of $498,433.20. Following the completion of the sale, the executive vice president directly owned 268,025 shares in the company, valued at approximately $1,704,639. This represents a 22.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 9.70% of the company’s stock.

About Transocean

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.