Prospera Financial Services Inc Has $685,000 Stock Position in Transocean Ltd. (NYSE:RIG)

Prospera Financial Services Inc cut its stake in Transocean Ltd. (NYSE:RIG) by 5.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 161,065 shares of the offshore drilling services provider’s stock after selling 9,250 shares during the period. Prospera Financial Services Inc’s holdings in Transocean were worth $685,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Northwestern Mutual Wealth Management Co. grew its position in Transocean by 138.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,633 shares of the offshore drilling services provider’s stock valued at $25,000 after acquiring an additional 2,693 shares during the period. Nisa Investment Advisors LLC bought a new stake in shares of Transocean in the 2nd quarter worth about $30,000. Atria Investments Inc acquired a new stake in shares of Transocean during the 3rd quarter worth about $51,000. SG Americas Securities LLC bought a new position in Transocean during the 2nd quarter valued at about $64,000. Finally, CWM LLC boosted its position in Transocean by 36.1% in the third quarter. CWM LLC now owns 17,065 shares of the offshore drilling services provider’s stock valued at $73,000 after buying an additional 4,529 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Transocean Stock Performance

Transocean stock opened at $4.47 on Friday. Transocean Ltd. has a 1 year low of $3.85 and a 1 year high of $6.88. The company’s 50-day moving average is $4.34 and its two-hundred day moving average is $4.95. The company has a current ratio of 1.64, a quick ratio of 1.34 and a debt-to-equity ratio of 0.64. The company has a market cap of $3.91 billion, a PE ratio of -5.96 and a beta of 2.78.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Citigroup lowered shares of Transocean from a “buy” rating to a “neutral” rating in a report on Thursday, September 12th. Susquehanna dropped their price target on Transocean from $7.00 to $6.50 and set a “positive” rating for the company in a report on Friday, November 1st. Benchmark lowered Transocean from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th. Barclays decreased their target price on Transocean from $6.00 to $4.50 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. Finally, StockNews.com raised Transocean to a “sell” rating in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $6.63.

Insider Activity at Transocean

In related news, Director Perestroika acquired 1,500,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was acquired at an average price of $4.13 per share, for a total transaction of $6,195,000.00. Following the completion of the acquisition, the director now owns 91,074,894 shares of the company’s stock, valued at $376,139,312.22. This trade represents a 1.67 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Roderick James Mackenzie sold 20,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $4.29, for a total value of $85,800.00. Following the transaction, the executive vice president now owns 310,857 shares in the company, valued at approximately $1,333,576.53. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. 13.16% of the stock is currently owned by company insiders.

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.