Raymond James Financial Services Advisors Inc. Lowers Stake in Transocean Ltd. (NYSE:RIG)

Raymond James Financial Services Advisors Inc. lowered its stake in shares of Transocean Ltd. (NYSE:RIG) by 12.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 87,284 shares of the offshore drilling services provider’s stock after selling 12,001 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Transocean were worth $554,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Pekin Hardy Strauss Inc. raised its position in shares of Transocean by 949.5% during the 3rd quarter. Pekin Hardy Strauss Inc. now owns 126,006 shares of the offshore drilling services provider’s stock valued at $1,035,000 after buying an additional 114,000 shares in the last quarter. Lisanti Capital Growth LLC raised its position in Transocean by 299.9% in the 3rd quarter. Lisanti Capital Growth LLC now owns 1,770,822 shares of the offshore drilling services provider’s stock worth $14,538,000 after purchasing an additional 1,328,032 shares during the period. Janney Montgomery Scott LLC raised its position in Transocean by 180.5% in the 3rd quarter. Janney Montgomery Scott LLC now owns 32,535 shares of the offshore drilling services provider’s stock worth $267,000 after purchasing an additional 20,935 shares during the period. Hosking Partners LLP raised its position in Transocean by 342.7% in the 3rd quarter. Hosking Partners LLP now owns 1,112,543 shares of the offshore drilling services provider’s stock worth $9,134,000 after purchasing an additional 861,209 shares during the period. Finally, B. Riley Wealth Advisors Inc. raised its position in Transocean by 16.2% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 14,371 shares of the offshore drilling services provider’s stock worth $118,000 after purchasing an additional 2,000 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Bank of America lifted their target price on shares of Transocean from $5.50 to $6.00 and gave the stock an “underperform” rating in a research report on Monday. Citigroup decreased their target price on shares of Transocean from $9.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, February 21st. Barclays cut their price target on shares of Transocean from $7.00 to $6.00 and set an “equal weight” rating on the stock in a report on Thursday, February 22nd. Morgan Stanley cut their price target on shares of Transocean from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Monday, February 26th. Finally, StockNews.com raised shares of Transocean to a “sell” rating in a report on Tuesday, February 20th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Transocean presently has a consensus rating of “Hold” and a consensus price target of $8.22.

Transocean Trading Down 2.2 %

Shares of RIG opened at $5.56 on Friday. The firm’s 50-day moving average price is $5.63 and its 200-day moving average price is $6.10. The firm has a market capitalization of $4.55 billion, a price-to-earnings ratio of -4.37 and a beta of 2.78. The company has a current ratio of 1.52, a quick ratio of 1.22 and a debt-to-equity ratio of 0.68. Transocean Ltd. has a 1-year low of $4.45 and a 1-year high of $8.88.

Transocean (NYSE:RIG) last announced its earnings results on Monday, February 19th. The offshore drilling services provider reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.12. The firm had revenue of $741.00 million for the quarter, compared to analyst estimates of $779.17 million. Transocean had a negative net margin of 33.69% and a negative return on equity of 7.13%. During the same quarter in the previous year, the firm posted ($0.49) EPS. Sell-side analysts anticipate that Transocean Ltd. will post 0.02 EPS for the current 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.