238,152 Shares in Transocean Ltd. (NYSE:RIG) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new stake in Transocean Ltd. (NYSE:RIG - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 238,152 shares of the offshore drilling services provider's stock, valued at approximately $893,000.

Other hedge funds have also made changes to their positions in the company. Blue Trust Inc. boosted its stake in Transocean by 96.2% during the 4th quarter. Blue Trust Inc. now owns 9,841 shares of the offshore drilling services provider's stock valued at $37,000 after purchasing an additional 4,826 shares in the last quarter. Adero Partners LLC bought a new position in Transocean during the fourth quarter valued at about $38,000. Stratos Wealth Partners LTD. acquired a new position in Transocean during the fourth quarter worth about $40,000. R Squared Ltd bought a new stake in Transocean in the fourth quarter worth about $41,000. Finally, Transcend Capital Advisors LLC bought a new stake in Transocean in the fourth quarter worth about $41,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on RIG shares. Barclays lowered their price objective on shares of Transocean from $4.00 to $3.50 and set an "overweight" rating on the stock in a research note on Monday. TD Cowen dropped their price target on Transocean from $6.50 to $5.50 and set a "hold" rating on the stock in a report on Wednesday, January 8th. Evercore ISI downgraded Transocean from an "outperform" rating to an "in-line" rating and cut their price objective for the company from $6.00 to $5.00 in a research report on Wednesday, January 15th. Morgan Stanley decreased their price target on Transocean from $5.00 to $4.00 and set an "equal weight" rating for the company in a research report on Thursday, March 27th. Finally, Citigroup reduced their price objective on shares of Transocean from $4.50 to $3.50 and set a "neutral" rating for the company in a research note on Wednesday, March 19th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $4.98.

Insider Activity at Transocean

In related news, EVP Roderick James Mackenzie sold 22,000 shares of the company's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $3.85, for a total value of $84,700.00. Following the completion of the sale, the executive vice president now directly owns 313,072 shares in the company, valued at approximately $1,205,327.20. This represents a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 13.16% of the company's stock.

Transocean Stock Up 9.8 %

RIG stock traded up $0.22 during midday trading on Wednesday, reaching $2.41. The company had a trading volume of 94,125,649 shares, compared to its average volume of 23,490,826. The company has a 50 day moving average of $3.14 and a two-hundred day moving average of $3.78. The company has a current ratio of 1.47, a quick ratio of 1.34 and a debt-to-equity ratio of 0.60. Transocean Ltd. has a 1 year low of $1.97 and a 1 year high of $6.47. The company has a market capitalization of $2.12 billion, a P/E ratio of -3.29, a PEG ratio of 0.86 and a beta of 2.29.

Transocean (NYSE:RIG - Get Free Report) last issued its earnings results on Monday, February 17th. The offshore drilling services provider reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.11). The firm had revenue of $952.00 million during the quarter, compared to analyst estimates of $962.28 million. Transocean had a negative return on equity of 0.52% and a negative net margin of 14.53%. On average, equities research analysts expect that Transocean Ltd. will post 0.14 earnings per share for the current fiscal year.

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.