Prospera Financial Services Inc Makes New $104,000 Investment in Transocean Ltd. (NYSE:RIG)

Prospera Financial Services Inc acquired a new stake in shares of Transocean Ltd. (NYSE:RIG – Get Rating) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 22,899 shares of the offshore drilling services provider’s stock, valued at approximately $104,000.

A number of other institutional investors have also recently made changes to their positions in RIG. Renaissance Technologies LLC grew its holdings in shares of Transocean by 5,526.9% in the first quarter. Renaissance Technologies LLC now owns 7,872,028 shares of the offshore drilling services provider’s stock valued at $35,975,000 after purchasing an additional 7,732,128 shares in the last quarter. Whitebox Advisors LLC grew its stake in shares of Transocean by 200.0% during the third quarter. Whitebox Advisors LLC now owns 3,000,000 shares of the offshore drilling services provider’s stock worth $7,410,000 after acquiring an additional 6,000,000 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Transocean by 9.4% during the third quarter. Vanguard Group Inc. now owns 60,315,980 shares of the offshore drilling services provider’s stock worth $148,981,000 after acquiring an additional 5,165,717 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Transocean by 117.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 8,940,965 shares of the offshore drilling services provider’s stock worth $40,861,000 after acquiring an additional 4,838,046 shares during the last quarter. Finally, Contrarius Investment Management Ltd boosted its position in Transocean by 19.6% in the third quarter. Contrarius Investment Management Ltd now owns 27,698,403 shares of the offshore drilling services provider’s stock valued at $68,415,000 after buying an additional 4,547,493 shares during the last quarter. Hedge funds and other institutional investors own 55.16% of the company’s stock.

Insider Buying and Selling

In other Transocean news, Director Chad C. Deaton bought 30,000 shares of the business’s stock in a transaction on Thursday, March 2nd. The shares were purchased at an average price of $7.40 per share, with a total value of $222,000.00. Following the purchase, the director now directly owns 141,000 shares of the company’s stock, valued at $1,043,400. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO David A. Tonnel sold 12,000 shares of Transocean stock in a transaction on Monday, April 17th. The stock was sold at an average price of $6.53, for a total value of $78,360.00. Following the transaction, the chief accounting officer now directly owns 476,802 shares in the company, valued at approximately $3,113,517.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Chad C. Deaton bought 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 2nd. The stock was bought at an average price of $7.40 per share, for a total transaction of $222,000.00. Following the completion of the acquisition, the director now directly owns 141,000 shares in the company, valued at $1,043,400. The disclosure for this purchase can be found here. Company insiders own 13.16% of the company’s stock.

Transocean Price Performance

Shares of NYSE RIG opened at $5.86 on Tuesday. Transocean Ltd. has a fifty-two week low of $2.32 and a fifty-two week high of $7.74. The business has a 50 day moving average price of $6.23 and a two-hundred day moving average price of $5.62. The company has a quick ratio of 1.56, a current ratio of 1.93 and a debt-to-equity ratio of 0.71. The firm has a market cap of $4.49 billion, a PE ratio of -4.65 and a beta of 2.90.

Transocean (NYSE:RIG – Get Rating) last issued its quarterly earnings data on Monday, May 1st. The offshore drilling services provider reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.16). Transocean had a negative net margin of 34.53% and a negative return on equity of 6.80%. The business had revenue of $649.00 million for the quarter, compared to analyst estimates of $646.29 million. During the same quarter last year, the business earned ($0.28) EPS. Transocean’s revenue for the quarter was up 10.8% compared to the same quarter last year. Sell-side analysts expect that Transocean Ltd. will post -0.42 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Compass Point upgraded Transocean from a “neutral” rating to a “buy” rating and set a $7.50 price objective on the stock in a research report on Wednesday, March 22nd. StockNews.com upgraded Transocean to a “sell” rating in a report on Wednesday, May 3rd. Clarkson Capital upgraded Transocean from a “neutral” rating to a “buy” rating and set a $7.50 target price for the company in a report on Tuesday, March 21st. Barclays lowered their price target on Transocean from $7.00 to $6.00 in a report on Thursday, February 23rd. Finally, Morgan Stanley lifted their target price on Transocean from $4.00 to $8.00 in a research report on Tuesday, April 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $6.98.

About Transocean

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Transocean Ltd. engages in the provision of offshore contract drilling services for oil and gas wells. It also owns and operates offshore drilling fleets such as ultra-deepwater, harsh environment, deepwater, and midwater rigs. The company was founded in 1953 and is headquartered in Steinhausen, Switzerland.