TFO Wealth Partners LLC Boosts Stock Position in Transocean Ltd. (NYSE:RIG) (2024)

TFO Wealth Partners LLC lifted its stake in shares of Transocean Ltd. (NYSE:RIG – Free Report) by 114,684.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,844 shares of the offshore drilling services provider’s stock after acquiring an additional 29,818 shares during the quarter. TFO Wealth Partners LLC’s holdings in Transocean were worth $190,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. VisionPoint Advisory Group LLC purchased a new stake in shares of Transocean in the fourth quarter worth $28,000. Private Trust Co. NA increased its stake in Transocean by 1,489.8% in the 4th quarter. Private Trust Co. NA now owns 8,537 shares of the offshore drilling services provider’s stock worth $54,000 after buying an additional 8,000 shares in the last quarter. First Western Trust Bank bought a new stake in Transocean during the fourth quarter valued at about $76,000. Southern Capital Advisors LLC purchased a new position in shares of Transocean in the fourth quarter valued at about $83,000. Finally, Vicus Capital bought a new position in shares of Transocean in the fourth quarter worth about $88,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Transocean Stock Down 7.9 %

Shares of RIG stock opened at $5.71 on Tuesday. Transocean Ltd. has a 1 year low of $4.45 and a 1 year high of $8.88. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.04 and a current ratio of 1.35. The stock’s 50 day simple moving average is $5.98 and its two-hundred day simple moving average is $5.80.

Transocean (NYSE:RIG – Get Free Report) last issued its quarterly earnings data on Monday, April 29th. The offshore drilling services provider reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.10. Transocean had a negative return on equity of 4.67% and a negative net margin of 13.27%. The business had revenue of $767.00 million for the quarter, compared to the consensus estimate of $781.86 million. During the same period in the prior year, the business posted ($0.38) earnings per share. The company’s quarterly revenue was up 18.2% compared to the same quarter last year.

Insider Buying and Selling at Transocean

In related news, Director (Cyprus) Ltd Perestroika acquired 2,000,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were acquired at an average cost of $6.01 per share, for a total transaction of $12,020,000.00. Following the completion of the transaction, the director now directly owns 87,574,894 shares in the company, valued at approximately $526,325,112.94. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 12.54% of the company’s stock.

Analyst Ratings Changes

RIG has been the subject of a number of recent analyst reports. Morgan Stanley dropped their price objective on Transocean from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Monday, February 26th. Evercore ISI dropped their price objective on Transocean from $9.00 to $7.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Barclays dropped their price objective on Transocean from $7.00 to $6.00 and set an “equal weight” rating for the company in a research note on Thursday, February 22nd. Susquehanna raised Transocean from a “neutral” rating to a “positive” rating and upped their price objective for the stock from $5.50 to $9.00 in a research note on Monday, April 8th. Finally, Citigroup decreased their target price on Transocean from $9.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, February 21st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Transocean currently has an average rating of “Hold” and a consensus target price of $7.70.

View Our Latest Research Report on Transocean

Transocean Company Profile

(Free Report)

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.

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