1 week Ago By Defense World Staff
Invesco Ltd. reduced its stake in Transocean Ltd. (NYSE:RIG – Free Report) by 21.
8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 853,809 shares of the offshore drilling services provider’s stock after selling 237,725 shares during the period. Invesco Ltd.
owned 0.10% of Transocean worth $3,202,000 at the end of the most recent quarter. Other institutional investors have also made changes to their positions in the company.
Ballentine Partners LLC boosted its holdings in Transocean by 19.4% during the fourth quarter. Ballentine Partners LLC now owns 18,247 shares of the offshore drilling services provider’s stock worth $68,000 after buying an additional 2,963 shares during the last quarter.
Pallas Capital Advisors LLC boosted its stake in Transocean by 25.6% during the 4th quarter. Pallas Capital Advisors LLC now owns 15,332 shares of the offshore drilling services provider’s stock worth $57,000 after acquiring an additional 3,127 shares during the last quarter.
Avantax Advisory Services Inc. grew its holdings in Transocean by 4.2% during the fourth quarter.
Avantax Advisory Services Inc. now owns 107,012 shares of the offshore drilling services provider’s stock valued at $401,000 after purchasing an additional 4,285 shares during the period. Blue Trust Inc.
increased its stake in Transocean by 96.2% in the fourth quarter. Blue Trust Inc.
now owns 9,841 shares of the offshore drilling services provider’s stock valued at $37,000 after purchasing an additional 4,826 shares in the last quarter. Finally, Southern Capital Advisors LLC raised its holdings in Transocean by 27.8% in the fourth quarter.
Southern Capital Advisors LLC now owns 23,001 shares of the offshore drilling services provider’s stock worth $86,000 after purchasing an additional 5,000 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.
Insider ActivityIn related news, EVP Roderick James Mackenzie sold 22,000 shares of the firm’s stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $2.23, for a total value of $49,060.
00. Following the completion of the sale, the executive vice president now directly owns 362,841 shares in the company, valued at approximately $809,135.43.
This trade represents a 5.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
13.16% of the stock is currently owned by insiders. Wall Street Analysts Forecast GrowthA number of analysts recently commented on the stock.
Citigroup lowered their price objective on shares of Transocean from $4.50 to $3.50 and set a “neutral” rating for the company in a research report on Wednesday, March 19th.
Susquehanna dropped their price target on Transocean from $5.00 to $4.00 and set a “positive” rating on the stock in a research report on Monday, April 14th.
Barclays decreased their price objective on Transocean from $4.00 to $3.50 and set an “overweight” rating for the company in a research report on Monday, April 7th.
Evercore ISI lowered shares of Transocean from an “outperform” rating to an “in-line” rating and cut their price target for the company from $6.00 to $5.00 in a research note on Wednesday, January 15th.
Finally, TD Cowen lowered their price objective on shares of Transocean from $6.50 to $5.50 and set a “hold” rating for the company in a research report on Wednesday, January 8th.
One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $4.
59.View Our Latest Research Report on TransoceanTransocean Stock Up 1.7 %Shares of RIG stock opened at $2.
33 on Monday. The firm’s fifty day moving average price is $2.79 and its two-hundred day moving average price is $3.
59. The company has a current ratio of 1.47, a quick ratio of 1.
34 and a debt-to-equity ratio of 0.60. Transocean Ltd.
has a 1 year low of $1.97 and a 1 year high of $6.38.
The firm has a market capitalization of $2.06 billion, a P/E ratio of -3.19, a PEG ratio of 0.
86 and a beta of 2.29. Transocean (NYSE:RIG – Get Free Report) last released 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 the consensus estimate of $962.
28 million. Transocean had a negative return on equity of 0.52% and a negative net margin of 14.
53%. On average, equities analysts predict that Transocean Ltd. will post 0.
14 EPS for the current fiscal year. Transocean Company Profile (Free Report)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.Featured ArticlesFive stocks we like better than TransoceanIndustrial Products Stocks Investing Texas Instruments: Earnings Beat, Upbeat Guidance Fuel RecoveryWhat is a Microcap Stock? Everything You Need to Know O’Reilly Automotive: An Anytime Buy for Buy-and-Hold InvestorsHow to Buy Cheap Stocks Step by StepChipotle Mexican Grill Serves Smoking Hot Entry Point in Q2.
