Moors & Cabot Inc. Trims Holdings in Transocean Ltd. (NYSE:RIG)

Moors & Cabot Inc. cut its holdings in shares of Transocean Ltd. (NYSE:RIG) by 9.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,425 shares of the offshore drilling services provider’s stock after selling 4,425 shares during the period. Moors & Cabot Inc.’s holdings in Transocean were worth $172,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of RIG. Northwestern Mutual Wealth Management Co. boosted its holdings in Transocean by 138.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,633 shares of the offshore drilling services provider’s stock worth $25,000 after buying an additional 2,693 shares in the last quarter. Nisa Investment Advisors LLC acquired a new stake in Transocean in the 2nd quarter worth about $30,000. SG Americas Securities LLC purchased a new stake in Transocean during the 2nd quarter worth approximately $64,000. Atria Investments Inc acquired a new position in shares of Transocean during the third quarter valued at approximately $51,000. Finally, Epiq Partners LLC purchased a new position in shares of Transocean in the second quarter valued at approximately $86,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Transactions at Transocean

In other Transocean news, Director Perestroika bought 1,500,000 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was bought at an average price of $4.13 per share, with a total value of $6,195,000.00. Following the completion of the purchase, the director now directly owns 91,074,894 shares in the company, valued at $376,139,312.22. The trade was a 1.67 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Roderick James Mackenzie sold 20,000 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $4.29, for a total value of $85,800.00. Following the completion of the transaction, the executive vice president now directly 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. Insiders own 13.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on RIG. Barclays dropped their price target on Transocean from $6.00 to $4.50 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Citigroup cut shares of Transocean from a “buy” rating to a “neutral” rating in a research note on Thursday, September 12th. DNB Markets upgraded shares of Transocean from a “hold” rating to a “buy” rating in a research report on Tuesday, September 3rd. Susquehanna lowered their price target on shares of Transocean from $7.00 to $6.50 and set a “positive” rating on the stock in a research report on Friday, November 1st. Finally, Morgan Stanley upped their price objective on shares of Transocean from $5.00 to $6.00 and gave the company an “equal weight” rating in a research note on Thursday, October 3rd. Two 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’s stock. Based on data from MarketBeat, Transocean presently has a consensus rating of “Hold” and an average target price of $6.63.

Transocean Price Performance

Shares of RIG stock opened at $4.47 on Monday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.64 and a quick ratio of 1.34. The company has a market capitalization of $3.91 billion, a PE ratio of -5.96 and a beta of 2.78. The firm’s 50-day moving average is $4.34 and its two-hundred day moving average is $4.94. Transocean Ltd. has a 12 month low of $3.85 and a 12 month high of $6.88.

Transocean Company 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.