Trek Financial LLC Buys Shares of 1,654,392 Transocean Ltd. $RIG

Trek Financial LLC bought a new position in shares of Transocean Ltd. (NYSE:RIG) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,654,392 shares of the offshore drilling services provider’s stock, valued at approximately $5,162,000. Trek Financial LLC owned about 0.18% of Transocean at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Josh Arnold Investment Consultant LLC purchased a new stake in shares of Transocean during the 2nd quarter valued at approximately $26,000. Blueshift Asset Management LLC purchased a new stake in Transocean in the second quarter valued at approximately $27,000. Blume Capital Management Inc. raised its holdings in shares of Transocean by 125.9% in the 2nd quarter. Blume Capital Management Inc. now owns 10,560 shares of the offshore drilling services provider’s stock valued at $27,000 after buying an additional 5,885 shares during the period. SBI Securities Co. Ltd. lifted its position in shares of Transocean by 78.0% during the second quarter. SBI Securities Co. Ltd. now owns 10,729 shares of the offshore drilling services provider’s stock worth $28,000 after purchasing an additional 4,700 shares in the last quarter. Finally, Csenge Advisory Group purchased a new position in shares of Transocean in the third quarter valued at approximately $34,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Roderick James Mackenzie sold 53,769 shares of the firm’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $3.86, for a total value of $207,548.34. Following the transaction, the executive vice president directly owned 247,072 shares in the company, valued at $953,697.92. This trade represents a 17.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jeremy D. Thigpen sold 500,000 shares of Transocean stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $4.32, for a total transaction of $2,160,000.00. Following the transaction, the insider directly owned 2,136,223 shares in the company, valued at approximately $9,228,483.36. This trade represents a 18.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 685,206 shares of company stock worth $2,952,015 over the last 90 days. Company insiders own 12.27% of the company’s stock.

Transocean Trading Up 2.7%

NYSE RIG traded up $0.13 during mid-day trading on Friday, reaching $4.83. 35,813,988 shares of the stock were exchanged, compared to its average volume of 27,611,796. The business’s fifty day simple moving average is $4.22 and its 200 day simple moving average is $3.58. Transocean Ltd. has a 1-year low of $1.97 and a 1-year high of $4.98. The stock has a market capitalization of $5.31 billion, a PE ratio of -1.47 and a beta of 1.36. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.91 and a current ratio of 1.08.

Transocean (NYSE:RIG) last issued its quarterly earnings results on Wednesday, October 29th. The offshore drilling services provider reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. The firm had revenue of ($1,894.00) million for the quarter, compared to analyst estimates of $1.01 billion. Transocean had a positive return on equity of 0.45% and a negative net margin of 75.71%.The firm’s revenue was up 8.4% on a year-over-year basis. On average, research analysts anticipate that Transocean Ltd. will post 0.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RIG. Barclays increased their price target on Transocean from $4.00 to $4.50 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. Morgan Stanley set a $4.50 target price on shares of Transocean in a report on Monday, December 15th. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Transocean in a research note on Wednesday, December 10th. Citigroup raised their price target on Transocean from $4.25 to $4.50 and gave the stock a “neutral” rating in a research note on Thursday, December 11th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Transocean in a report on Thursday. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $4.38.

Transocean Company Profile

Transocean Ltd. is a leading international provider of offshore contract drilling services for the oil and gas industry. The company specializes in the operation of mobile drilling units, including ultra-deepwater drillships, semisubmersible rigs and high-specification jackup rigs. Transocean’s fleet is designed to meet complex drilling requirements, from ultra-deepwater well construction to shelf exploration and development projects.

The company’s core services encompass the full spectrum of offshore drilling operations, including project and engineering management, marine operations, drilling supervision, and maintenance support.