Corient Private Wealth LLC Lowers Position in Transocean Ltd. (NYSE:RIG)

Corient Private Wealth LLC reduced its position in shares of Transocean Ltd. (NYSE:RIG) by 31.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,712 shares of the offshore drilling services provider’s stock after selling 4,858 shares during the period. Corient Private Wealth LLC’s holdings in Transocean were worth $40,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its holdings in Transocean by 96.2% during the fourth quarter. Blue Trust Inc. now owns 9,841 shares of the offshore drilling services provider’s stock worth $37,000 after buying an additional 4,826 shares in the last quarter. Adero Partners LLC purchased a new stake in shares of Transocean during the 4th quarter worth approximately $38,000. Stratos Wealth Partners LTD. acquired a new stake in shares of Transocean in the 4th quarter worth approximately $40,000. R Squared Ltd acquired a new stake in shares of Transocean in the 4th quarter worth approximately $41,000. Finally, Transcend Capital Advisors LLC acquired a new position in Transocean during the fourth quarter worth $41,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on RIG shares. SEB Equity Research set a $2.80 price target on Transocean in a research note on Wednesday, March 5th. TD Cowen cut their target price on shares of Transocean from $6.50 to $5.50 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Citigroup lowered their price target on shares of Transocean from $4.50 to $3.50 and set a “neutral” rating on the stock in a research report on Wednesday, March 19th. JPMorgan Chase & Co. upgraded Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 price objective for the company in a research report on Friday, December 6th. Finally, Morgan Stanley lowered their target price on Transocean from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Thursday, March 27th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Transocean presently has an average rating of “Hold” and an average price target of $5.03.

Insider Buying and Selling at Transocean

In related news, EVP Roderick James Mackenzie sold 22,000 shares of Transocean stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $3.85, for a total transaction of $84,700.00. Following the sale, the executive vice president now directly owns 313,072 shares of the company’s stock, valued at $1,205,327.20. This trade represents a 6.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 12.54% of the company’s stock.

Transocean Stock Down 4.8 %

Shares of Transocean stock opened at $3.16 on Thursday. Transocean Ltd. has a 1 year low of $2.55 and a 1 year high of $6.88. The company has a market cap of $2.79 billion, a P/E ratio of -4.33, a P/E/G ratio of 0.86 and a beta of 2.72. The company has a current ratio of 1.47, a quick ratio of 1.34 and a debt-to-equity ratio of 0.60. The stock has a 50-day moving average price of $3.36 and a 200 day moving average price of $3.88.

Transocean (NYSE:RIG) last posted its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $962.28 million. Transocean had a negative return on equity of 0.52% and a negative net margin of 14.53%. As a group, analysts expect that Transocean Ltd. will post 0.14 EPS for the current fiscal year.

About Transocean

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.