Private Advisor Group LLC Cuts Stake in Transocean Ltd. (NYSE:RIG)

Private Advisor Group LLC lowered its position in shares of Transocean Ltd. (NYSE:RIGFree Report) by 12.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 33,371 shares of the offshore drilling services provider’s stock after selling 4,756 shares during the quarter. Private Advisor Group LLC’s holdings in Transocean were worth $274,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Transocean by 9.4% in the 3rd quarter. Vanguard Group Inc. now owns 60,315,980 shares of the offshore drilling services provider’s stock valued at $148,981,000 after purchasing an additional 5,165,717 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Transocean by 64.4% in the 1st quarter. BlackRock Inc. now owns 27,992,307 shares of the offshore drilling services provider’s stock valued at $178,031,000 after purchasing an additional 10,962,276 shares in the last quarter. Capital World Investors increased its holdings in shares of Transocean by 177.5% in the 2nd quarter. Capital World Investors now owns 27,596,879 shares of the offshore drilling services provider’s stock valued at $193,454,000 after purchasing an additional 17,650,829 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Transocean by 1.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 19,812,807 shares of the offshore drilling services provider’s stock valued at $138,867,000 after acquiring an additional 266,743 shares in the last quarter. Finally, Morgan Stanley increased its holdings in Transocean by 60.7% during the 4th quarter. Morgan Stanley now owns 18,330,357 shares of the offshore drilling services provider’s stock valued at $83,586,000 after acquiring an additional 6,925,085 shares in the last quarter. Hedge funds and other institutional investors own 66.70% of the company’s stock.

Transocean Price Performance

RIG opened at $5.04 on Wednesday. The company’s 50 day simple moving average is $5.89 and its 200 day simple moving average is $7.04. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.32 and a current ratio of 1.67. Transocean Ltd. has a 1 year low of $4.90 and a 1 year high of $8.88. The stock has a market capitalization of $4.08 billion, a PE ratio of -3.11 and a beta of 2.80.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on RIG shares. Susquehanna dropped their target price on shares of Transocean from $9.00 to $7.50 and set a “neutral” rating for the company in a report on Wednesday, November 1st. Capital One Financial started coverage on shares of Transocean in a report on Tuesday, November 28th. They set an “equal weight” rating and a $8.00 target price for the company. Morgan Stanley raised their target price on shares of Transocean from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Tuesday, October 17th. Finally, StockNews.com raised shares of Transocean to a “sell” rating in a research note on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $8.80.

View Our Latest Stock Analysis on RIG

Transocean Profile

(Free Report)

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts its mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. It serves integrated energy companies, government-owned or government-controlled energy companies, and other independent energy companies.

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Institutional Ownership by Quarter for Transocean (NYSE:RIG)

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