Transocean Ltd. (NYSE:RIG) Shares Sold by Advisory Alpha LLC

Advisory Alpha LLC lowered its stake in Transocean Ltd. (NYSE:RIG) by 39.9% during the second quarter, HoldingsChannel reports. The firm owned 47,764 shares of the offshore drilling services provider’s stock after selling 31,710 shares during the quarter. Advisory Alpha LLC’s holdings in Transocean were worth $256,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of RIG. SCP Investment LP purchased a new position in Transocean in the 4th quarter valued at $419,000. Capital World Investors lifted its stake in shares of Transocean by 34.7% in the 4th quarter. Capital World Investors now owns 39,014,318 shares of the offshore drilling services provider’s stock worth $247,741,000 after acquiring an additional 10,049,077 shares during the period. CenterBook Partners LP boosted its holdings in shares of Transocean by 36.7% in the fourth quarter. CenterBook Partners LP now owns 748,196 shares of the offshore drilling services provider’s stock valued at $4,751,000 after acquiring an additional 201,066 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of Transocean during the fourth quarter worth about $3,323,000. Finally, OLD Point Trust & Financial Services N A purchased a new position in Transocean during the fourth quarter worth about $25,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

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 dated Friday, August 2nd. The stock was bought at an average cost of $5.23 per share, with a total value of $10,460,000.00. Following the completion of the acquisition, the director now directly owns 89,574,894 shares in the company, valued at approximately $468,476,695.62. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Transocean news, Director Perestroika purchased 1,500,000 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was bought at an average cost of $4.13 per share, for a total transaction of $6,195,000.00. Following the acquisition, the director now owns 91,074,894 shares of the company’s stock, valued at approximately $376,139,312.22. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director (Cyprus) Ltd Perestroika acquired 2,000,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were acquired at an average price of $5.23 per share, for a total transaction of $10,460,000.00. Following the acquisition, the director now directly owns 89,574,894 shares of the company’s stock, valued at $468,476,695.62. The disclosure for this purchase can be found here. 13.16% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

RIG has been the topic of several recent analyst reports. Morgan Stanley dropped their target price on Transocean from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. DNB Markets raised Transocean from a “hold” rating to a “buy” rating in a report on Tuesday, September 3rd. StockNews.com raised Transocean to a “sell” rating in a report on Thursday, September 26th. Citigroup cut shares of Transocean from a “buy” rating to a “neutral” rating in a research note on Thursday, September 12th. Finally, Benchmark reiterated a “buy” rating and issued a $8.00 price objective on shares of Transocean in a research note on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $7.00.

Transocean Price Performance

Transocean stock opened at $4.33 on Thursday. The firm has a market capitalization of $3.79 billion, a PE ratio of -8.33 and a beta of 2.79. Transocean Ltd. has a 52 week low of $3.85 and a 52 week high of $8.03. The firm’s 50-day simple moving average is $4.79 and its 200 day simple moving average is $5.39. The company has a quick ratio of 1.08, a current ratio of 1.36 and a debt-to-equity ratio of 0.63.

Transocean (NYSE:RIG) last announced its quarterly earnings results on Wednesday, July 31st. The offshore drilling services provider reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.07). Transocean had a negative net margin of 11.34% and a negative return on equity of 4.76%. The business had revenue of $861.00 million during the quarter, compared to analysts’ expectations of $862.25 million. During the same period last year, the company earned ($0.15) EPS. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. On average, equities research analysts predict that Transocean Ltd. will post -0.18 EPS 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.