Jump Financial LLC reduced its stake in Transocean Ltd. (NYSE:RIG – Free Report) by 86.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 88,787 shares of the offshore drilling services provider’s stock after selling 555,934 shares during the quarter. Jump Financial LLC’s holdings in Transocean were worth $729,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its holdings in Transocean by 446.5% during the third quarter. Tower Research Capital LLC TRC now owns 10,996 shares of the offshore drilling services provider’s stock worth $27,000 after purchasing an additional 8,984 shares during the last quarter. OLD Point Trust & Financial Services N A purchased a new position in shares of Transocean in the 2nd quarter worth approximately $28,000. VisionPoint Advisory Group LLC bought a new position in shares of Transocean in the second quarter valued at approximately $31,000. Miller Wealth Advisors LLC increased its position in shares of Transocean by 9,900.0% during the second quarter. Miller Wealth Advisors LLC now owns 5,000 shares of the offshore drilling services provider’s stock valued at $35,000 after acquiring an additional 4,950 shares during the last quarter. Finally, IHT Wealth Management LLC grew its stake in Transocean by 38.8% in the 3rd quarter. IHT Wealth Management LLC now owns 16,895 shares of the offshore drilling services provider’s stock valued at $42,000 after purchasing an additional 4,719 shares during the period. 66.70% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several analysts have commented on RIG shares. Susquehanna lowered their price objective on shares of Transocean from $9.00 to $7.50 and set a “neutral” rating on the stock in a research report on Wednesday, November 1st. Morgan Stanley boosted their price target on shares of Transocean from $8.00 to $9.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 17th. Capital One Financial initiated coverage on shares of Transocean in a report on Tuesday, November 28th. They set an “equal weight” rating and a $8.00 target price on the stock. Finally, StockNews.com raised Transocean to a “sell” rating in a report on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $8.80.
Transocean Price Performance
Transocean stock opened at $4.96 on Thursday. 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 52-week low of $4.90 and a 52-week high of $8.88. The business has a 50-day simple moving average of $5.87 and a two-hundred day simple moving average of $7.02.
Transocean Company Profile
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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