Vise Technologies Inc. Invests $146,000 in Transocean Ltd. $RIG

Vise Technologies Inc. purchased a new stake in shares of Transocean Ltd. (NYSE:RIG) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 56,523 shares of the offshore drilling services provider’s stock, valued at approximately $146,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Moors & Cabot Inc. increased its position in Transocean by 14.7% during the 2nd quarter. Moors & Cabot Inc. now owns 27,350 shares of the offshore drilling services provider’s stock valued at $71,000 after purchasing an additional 3,500 shares during the period. HBK Sorce Advisory LLC boosted its stake in shares of Transocean by 34.5% during the second quarter. HBK Sorce Advisory LLC now owns 16,134 shares of the offshore drilling services provider’s stock valued at $42,000 after purchasing an additional 4,139 shares in the last quarter. Boston Partners increased its holdings in Transocean by 3.2% during the first quarter. Boston Partners now owns 140,904 shares of the offshore drilling services provider’s stock valued at $447,000 after buying an additional 4,331 shares during the period. Wedbush Securities Inc. raised its stake in Transocean by 40.2% in the second quarter. Wedbush Securities Inc. now owns 15,350 shares of the offshore drilling services provider’s stock worth $40,000 after buying an additional 4,400 shares in the last quarter. Finally, Avantax Advisory Services Inc. lifted its holdings in Transocean by 4.2% during the first quarter. Avantax Advisory Services Inc. now owns 111,502 shares of the offshore drilling services provider’s stock worth $353,000 after buying an additional 4,490 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on RIG shares. Wall Street Zen upgraded Transocean from a “sell” rating to a “hold” rating in a report on Sunday, August 10th. Citigroup lifted their target price on Transocean from $3.50 to $4.25 and gave the company a “neutral” rating in a research note on Friday. Barclays increased their price target on shares of Transocean from $4.00 to $4.50 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Transocean in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Transocean presently has an average rating of “Hold” and a consensus price target of $4.39.

Insider Transactions at Transocean

In related news, EVP Roderick James Mackenzie sold 53,769 shares of the business’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $3.86, for a total transaction of $207,548.34. Following the completion of the transaction, the executive vice president directly owned 247,072 shares in the company, valued at $953,697.92. The trade was a 17.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Keelan Adamson sold 40,942 shares of the business’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $4.00, for a total value of $163,768.00. Following the completion of the transaction, the chief executive officer directly owned 1,370,152 shares of the company’s stock, valued at approximately $5,480,608. This trade represents a 2.90% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 12.27% of the company’s stock.

Transocean Trading Up 0.6%

Transocean stock opened at $4.11 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 1.26. The stock has a market cap of $4.52 billion, a PE ratio of -1.25 and a beta of 2.65. The stock has a 50-day moving average of $3.56 and a two-hundred day moving average of $3.09. Transocean Ltd. has a one year low of $1.97 and a one year high of $4.51.

Transocean (NYSE:RIG) last posted its quarterly earnings data on Wednesday, October 29th. The offshore drilling services provider reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.02. The firm had revenue of ($1,894.00) million for the quarter, compared to the consensus estimate of $1.01 billion. Transocean had a negative net margin of 75.71% and a positive return on equity of 0.43%. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, research analysts anticipate that Transocean Ltd. will post 0.14 EPS for the current fiscal year.

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.