Avantax Advisory Services Inc. Acquires 4,285 Shares of Transocean Ltd. (NYSE:RIG)

Avantax Advisory Services Inc. raised its holdings in Transocean Ltd. (NYSE:RIG) by 4.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 107,012 shares of the offshore drilling services provider’s stock after acquiring an additional 4,285 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Transocean were worth $401,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of RIG. Blue Trust Inc. increased its stake in shares of Transocean by 96.2% in the 4th quarter. Blue Trust Inc. now owns 9,841 shares of the offshore drilling services provider’s stock valued at $37,000 after acquiring an additional 4,826 shares during the last quarter. Adero Partners LLC bought a new stake in Transocean in the fourth quarter valued at approximately $38,000. Stratos Wealth Partners LTD. acquired a new stake in Transocean in the fourth quarter worth $40,000. Orion Portfolio Solutions LLC bought a new position in shares of Transocean during the third quarter worth $46,000. Finally, R Squared Ltd acquired a new position in shares of Transocean in the 4th quarter valued at $41,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Transocean Stock Up 1.1 %

Shares of RIG stock opened at $3.23 on Tuesday. The firm’s fifty day moving average price is $3.48 and its two-hundred day moving average price is $3.92. Transocean Ltd. has a 1 year low of $2.55 and a 1 year high of $6.88. 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 firm has a market capitalization of $2.83 billion, a P/E ratio of -4.42, a PEG ratio of 0.86 and a beta of 2.72.

Transocean (NYSE:RIG) last released its earnings results on Monday, February 17th. The offshore drilling services provider reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.11). Transocean had a negative return on equity of 0.52% and a negative net margin of 14.53%. The company had revenue of $952.00 million for the quarter, compared to the consensus estimate of $962.28 million. On average, equities analysts predict that Transocean Ltd. will post 0.14 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on RIG. Citigroup reduced their target price on Transocean from $4.50 to $3.50 and set a “neutral” rating on the stock in a report on Wednesday, March 19th. Barclays lowered their target price on Transocean from $4.50 to $4.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. SEB Equity Research set a $2.80 price target on shares of Transocean in a research note on Wednesday, March 5th. TD Cowen reduced their price target on shares of Transocean from $6.50 to $5.50 and set a “hold” rating for the company in a report on Wednesday, January 8th. Finally, Evercore ISI cut shares of Transocean from an “outperform” rating to an “in-line” rating and cut their price objective for the company from $6.00 to $5.00 in a research report on Wednesday, January 15th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $5.23.

Insider Buying and Selling at Transocean

In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $3.85, for a total transaction of $84,700.00. Following the completion of the sale, the executive vice president now owns 313,072 shares of the company’s stock, valued at $1,205,327.20. This trade represents a 6.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 13.16% of the company’s stock.

Transocean Profile

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.