Moss Adams Wealth Advisors LLC Purchases New Position in Transocean Ltd. (NYSE:RIG)

Moss Adams Wealth Advisors LLC acquired a new stake in Transocean Ltd. (NYSE:RIG) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 31,036 shares of the offshore drilling services provider’s stock, valued at approximately $132,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Fisher Asset Management LLC lifted its stake in shares of Transocean by 11.0% in the 4th quarter. Fisher Asset Management LLC now owns 27,714 shares of the offshore drilling services provider’s stock valued at $176,000 after acquiring an additional 2,743 shares during the last quarter. Vanguard Group Inc. increased its holdings in Transocean by 6.4% in the 4th quarter. Vanguard Group Inc. now owns 68,552,192 shares of the offshore drilling services provider’s stock worth $435,306,000 after purchasing an additional 4,107,956 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in Transocean in the first quarter valued at about $1,521,000. International Assets Investment Management LLC boosted its stake in shares of Transocean by 16.2% during the first quarter. International Assets Investment Management LLC now owns 40,062 shares of the offshore drilling services provider’s stock valued at $255,000 after purchasing an additional 5,600 shares in the last quarter. Finally, Traynor Capital Management Inc. grew its holdings in shares of Transocean by 5.2% during the first quarter. Traynor Capital Management Inc. now owns 33,257 shares of the offshore drilling services provider’s stock worth $209,000 after purchasing an additional 1,650 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

RIG has been the topic of several recent research reports. Benchmark downgraded shares of Transocean from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th. Citigroup cut shares of Transocean from a “buy” rating to a “neutral” rating in a research note on Thursday, September 12th. Morgan Stanley raised their target price on Transocean from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 3rd. DNB Markets upgraded Transocean from a “hold” rating to a “buy” rating in a research report on Tuesday, September 3rd. Finally, Susquehanna lowered their price objective on Transocean from $8.00 to $7.00 and set a “positive” rating for the company in a research report on Friday, October 11th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $6.88.

Insider Activity

In related news, Director (Cyprus) Ltd Perestroika bought 2,000,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average cost of $5.23 per share, with a total value of $10,460,000.00. Following the completion of the purchase, the director now directly owns 89,574,894 shares in the company, valued at $468,476,695.62. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director (Cyprus) Ltd Perestroika purchased 2,000,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average cost of $5.23 per share, with a total value of $10,460,000.00. Following the purchase, the director now owns 89,574,894 shares in the company, valued at $468,476,695.62. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Perestroika acquired 1,500,000 shares of Transocean stock in a transaction on Thursday, September 12th. The stock was purchased at an average cost of $4.13 per share, with a total value of $6,195,000.00. Following the purchase, the director now directly owns 91,074,894 shares of the company’s stock, valued at approximately $376,139,312.22. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 13.16% of the stock is currently owned by company insiders.

Transocean Stock Performance

Shares of Transocean stock opened at $4.24 on Friday. The business has a 50-day moving average price of $4.53 and a two-hundred day moving average price of $5.23. Transocean Ltd. has a 1-year low of $3.85 and a 1-year high of $7.56. The company has a current ratio of 1.36, a quick ratio of 1.08 and a debt-to-equity ratio of 0.63. The company has a market cap of $3.99 billion, a P/E ratio of -8.15 and a beta of 2.79.

Transocean (NYSE:RIG) last released its earnings results on Wednesday, July 31st. The offshore drilling services provider reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.07). Transocean had a negative return on equity of 4.76% and a negative net margin of 11.34%. The business had revenue of $861.00 million for the quarter, compared to analyst estimates of $862.25 million. During the same period in the prior year, the business earned ($0.15) EPS. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. As a group, analysts anticipate that Transocean Ltd. will post -0.18 EPS for the current 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.