Private Advisor Group LLC Sells 2,462 Shares of Transocean Ltd. (NYSE:RIG)

Private Advisor Group LLC decreased its position in Transocean Ltd. (NYSE:RIG) by 7.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,016 shares of the offshore drilling services provider’s stock after selling 2,462 shares during the quarter. Private Advisor Group LLC’s holdings in Transocean were worth $123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in RIG. Vanguard Group Inc. increased its position in shares of Transocean by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 68,982,142 shares of the offshore drilling services provider’s stock valued at $433,208,000 after purchasing an additional 429,950 shares during the last quarter. Primecap Management Co. CA increased its position in shares of Transocean by 0.7% during the 2nd quarter. Primecap Management Co. CA now owns 56,119,489 shares of the offshore drilling services provider’s stock valued at $300,239,000 after purchasing an additional 375,450 shares during the last quarter. Capital World Investors increased its position in shares of Transocean by 18.8% during the 1st quarter. Capital World Investors now owns 46,334,990 shares of the offshore drilling services provider’s stock valued at $290,984,000 after purchasing an additional 7,320,672 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Transocean by 19.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 36,725,995 shares of the offshore drilling services provider’s stock valued at $196,484,000 after purchasing an additional 5,856,414 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Transocean by 18.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 16,858,264 shares of the offshore drilling services provider’s stock valued at $90,192,000 after purchasing an additional 2,606,017 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Transocean Trading Down 2.3 %

Shares of NYSE RIG opened at $4.47 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.64 and a quick ratio of 1.34. The stock has a market capitalization of $3.91 billion, a P/E ratio of -5.95 and a beta of 2.78. Transocean Ltd. has a 1-year low of $3.85 and a 1-year high of $6.94. The business has a fifty day moving average price of $4.31 and a 200 day moving average price of $5.04.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Morgan Stanley boosted their target price on Transocean from $5.00 to $6.00 and gave the company an “equal weight” rating in a research report on Thursday, October 3rd. StockNews.com raised Transocean to a “sell” rating in a research report on Thursday, October 10th. Citigroup downgraded Transocean from a “buy” rating to a “neutral” rating in a research report on Thursday, September 12th. Susquehanna cut their price objective on Transocean from $7.00 to $6.50 and set a “positive” rating on the stock in a research report on Friday, November 1st. Finally, DNB Markets raised Transocean from a “hold” rating to a “buy” rating in a research report on Tuesday, September 3rd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Transocean has a consensus rating of “Hold” and a consensus target price of $6.63.

Insider Buying and Selling

In related news, Director Perestroika acquired 1,500,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was purchased at an average cost of $4.13 per share, for a total transaction of $6,195,000.00. Following the purchase, the director now directly owns 91,074,894 shares of the company’s stock, valued at $376,139,312.22. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 13.16% of the stock is currently owned by company insiders.

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.