Moors & Cabot Inc. Cuts Stake in Transocean Ltd. (NYSE:RIG)

Moors & Cabot Inc. reduced its position in Transocean Ltd. (NYSE:RIG) by 33.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,825 shares of the offshore drilling services provider’s stock after selling 13,600 shares during the quarter. Moors & Cabot Inc.’s holdings in Transocean were worth $101,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of RIG. Blue Trust Inc. grew its holdings 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 worth $37,000 after purchasing an additional 4,826 shares during the last quarter. Adero Partners LLC purchased a new position in Transocean in the fourth quarter worth $38,000. Stratos Wealth Partners LTD. purchased a new position in Transocean in the fourth quarter worth $40,000. R Squared Ltd purchased a new position in Transocean in the fourth quarter worth $41,000. Finally, Transcend Capital Advisors LLC purchased a new position in Transocean in the fourth quarter worth $41,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $3.85, for a total value of $84,700.00. Following the completion of the transaction, the executive vice president now owns 313,072 shares in the company, valued at approximately $1,205,327.20. This represents a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 13.16% of the company’s stock.

Transocean Price Performance

NYSE:RIG opened at $3.04 on Monday. Transocean Ltd. has a one year low of $2.55 and a one year high of $6.88. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.34 and a current ratio of 1.47. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of -4.16, a PEG ratio of 0.86 and a beta of 2.72. The firm’s fifty day moving average is $3.58 and its two-hundred day moving average is $3.98.

Transocean (NYSE:RIG) last issued its quarterly earnings data on Monday, February 17th. The offshore drilling services provider reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.11). The firm had revenue of $952.00 million during the quarter, compared to analyst estimates of $962.28 million. Transocean had a negative return on equity of 0.52% and a negative net margin of 14.53%. Research analysts expect that Transocean Ltd. will post 0.14 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. TD Cowen dropped their price objective on shares of Transocean from $6.50 to $5.50 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Benchmark reissued a “hold” rating on shares of Transocean in a report on Tuesday, December 3rd. Barclays dropped their price objective on shares of Transocean from $4.50 to $4.00 and set an “overweight” rating on the stock in a report on Tuesday, February 25th. JPMorgan Chase & Co. raised shares of Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 price objective on the stock in a report on Friday, December 6th. Finally, Evercore ISI lowered shares of Transocean from an “outperform” rating to an “in-line” rating and dropped their price objective for the company from $6.00 to $5.00 in a report on Wednesday, January 15th. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $5.42.

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.