40,000 Shares in Transocean Ltd. (NYSE:RIG) Bought by MorganRosel Wealth Management LLC

MorganRosel Wealth Management LLC bought a new position in shares of Transocean Ltd. (NYSE:RIG) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 40,000 shares of the offshore drilling services provider’s stock, valued at approximately $251,000.

Several other large investors have also bought and sold shares of the stock. Murphy Pohlad Asset Management LLC grew its holdings in Transocean by 1.7% during the 1st quarter. Murphy Pohlad Asset Management LLC now owns 96,150 shares of the offshore drilling services provider’s stock worth $604,000 after acquiring an additional 1,600 shares during the period. Traynor Capital Management Inc. grew its holdings in Transocean by 5.2% during the 1st quarter. Traynor Capital Management Inc. now owns 33,257 shares of the offshore drilling services provider’s stock worth $209,000 after acquiring an additional 1,650 shares during the period. B. Riley Wealth Advisors Inc. grew its holdings in Transocean by 16.2% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 14,371 shares of the offshore drilling services provider’s stock worth $118,000 after acquiring an additional 2,000 shares during the period. 180 Wealth Advisors LLC grew its holdings in Transocean by 7.4% during the 4th quarter. 180 Wealth Advisors LLC now owns 31,496 shares of the offshore drilling services provider’s stock worth $197,000 after acquiring an additional 2,170 shares during the period. Finally, Fisher Asset Management LLC grew its holdings in Transocean by 11.0% during the 4th quarter. Fisher Asset Management LLC now owns 27,714 shares of the offshore drilling services provider’s stock worth $176,000 after acquiring an additional 2,743 shares during the period. 67.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on RIG shares. Evercore ISI decreased their price target on Transocean from $9.00 to $7.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Bank of America increased their price target on Transocean from $5.50 to $6.00 and gave the stock an “underperform” rating in a report on Monday, April 15th. Benchmark reiterated a “buy” rating and set a $8.00 price target on shares of Transocean in a report on Tuesday, April 30th. Finally, Susquehanna upgraded Transocean from a “neutral” rating to a “positive” rating and raised their target price for the company from $5.50 to $9.00 in a research note on Monday, April 8th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Transocean has an average rating of “Hold” and a consensus target price of $7.70.

Transocean Price Performance

Shares of RIG opened at $5.30 on Monday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.04 and a current ratio of 1.35. Transocean Ltd. has a one year low of $4.45 and a one year high of $8.88. The stock has a 50-day moving average of $5.64 and a 200-day moving average of $5.68.

Transocean (NYSE:RIG) last released its quarterly earnings results on Monday, April 29th. The offshore drilling services provider reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.10. The business had revenue of $767.00 million during the quarter, compared to the consensus estimate of $781.86 million. Transocean had a negative return on equity of 4.67% and a negative net margin of 13.27%. The company’s quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.38) EPS. On average, sell-side analysts anticipate that Transocean Ltd. will post -0.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Transocean

In related news, Director (Cyprus) Ltd Perestroika purchased 2,000,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was acquired at an average price of $6.01 per share, for a total transaction of $12,020,000.00. Following the purchase, the director now owns 87,574,894 shares of the company’s stock, valued at $526,325,112.94. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 12.54% of the company’s stock.

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.