Cambridge Investment Research Advisors Inc. Increases Stake in Transocean Ltd. (NYSE:RIG)

Cambridge Investment Research Advisors Inc. grew its stake in Transocean Ltd. (NYSE:RIG – Get Rating) by 255.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 211,806 shares of the offshore drilling services provider’s stock after buying an additional 152,230 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Transocean were worth $966,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the business. Lindbrook Capital LLC increased its position in Transocean by 59.9% during the fourth quarter. Lindbrook Capital LLC now owns 5,440 shares of the offshore drilling services provider’s stock worth $25,000 after buying an additional 2,037 shares during the period. Independence Bank of Kentucky acquired a new position in Transocean during the fourth quarter worth approximately $27,000. Citizens Business Bank acquired a new position in Transocean during the third quarter worth approximately $25,000. Transparent Wealth Partners LLC acquired a new position in Transocean during the third quarter worth approximately $25,000. Finally, S. R. Schill & Associates acquired a new position in Transocean during the fourth quarter worth approximately $46,000. Hedge funds and other institutional investors own 55.16% of the company’s stock.

Transocean Trading Up 2.2 %

Shares of RIG stock opened at $5.93 on Friday. The business’s fifty day moving average price is $6.14 and its 200 day moving average price is $5.67. Transocean Ltd. has a 1-year low of $2.32 and a 1-year high of $7.74. The firm has a market capitalization of $4.55 billion, a PE ratio of -4.71 and a beta of 2.90. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.93 and a quick ratio of 1.56.

Transocean (NYSE:RIG – Get Rating) last announced its quarterly earnings data on Monday, May 1st. The offshore drilling services provider reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.16). The business had revenue of $649.00 million for the quarter, compared to analyst estimates of $646.29 million. Transocean had a negative return on equity of 6.80% and a negative net margin of 34.53%. The company’s revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the company earned ($0.28) EPS. As a group, sell-side analysts forecast that Transocean Ltd. will post -0.46 EPS for the current fiscal year.

Insiders Place Their Bets

In other Transocean news, CAO David A. Tonnel sold 12,000 shares of the business’s stock in a transaction on Monday, April 17th. The stock was sold at an average price of $6.53, for a total transaction of $78,360.00. Following the sale, the chief accounting officer now directly owns 476,802 shares in the company, valued at $3,113,517.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Chad C. Deaton bought 30,000 shares of the firm’s stock in a transaction on Thursday, March 2nd. The shares were bought at an average cost of $7.40 per share, for a total transaction of $222,000.00. Following the completion of the transaction, the director now owns 141,000 shares in the company, valued at $1,043,400. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO David A. Tonnel sold 12,000 shares of the company’s stock in a transaction on Monday, April 17th. The shares were sold at an average price of $6.53, for a total value of $78,360.00. Following the completion of the sale, the chief accounting officer now owns 476,802 shares in the company, valued at $3,113,517.06. The disclosure for this sale can be found here. 13.16% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. StockNews.com initiated coverage on Transocean in a research report on Thursday. They set a “sell” rating on the stock. BTIG Research boosted their target price on Transocean from $8.00 to $10.00 in a report on Wednesday, January 25th. Citigroup boosted their target price on Transocean from $5.50 to $6.50 and gave the company a “neutral” rating in a report on Wednesday, March 22nd. Susquehanna boosted their target price on Transocean from $6.00 to $6.50 in a report on Monday, April 3rd. Finally, Benchmark boosted their target price on Transocean from $7.50 to $12.00 and gave the company a “buy” rating in a report on Friday, March 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.98.

Transocean Profile

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Transocean Ltd. engages in the provision of offshore contract drilling services for oil and gas wells. It also owns and operates offshore drilling fleets such as ultra-deepwater, harsh environment, deepwater, and midwater rigs. The company was founded in 1953 and is headquartered in Steinhausen, Switzerland.