PFG Investments LLC Invests $1.08 Million in Transocean Ltd. (NYSE:RIG)

PFG Investments LLC purchased a new stake in Transocean Ltd. (NYSE:RIG - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 172,637 shares of the offshore drilling services provider's stock, valued at approximately $1,084,000.

A number of other institutional investors and hedge funds also recently modified their holdings of RIG. National Bank of Canada FI boosted its position in shares of Transocean by 3,800.0% in the 3rd quarter. National Bank of Canada FI now owns 5,850 shares of the offshore drilling services provider's stock valued at $46,000 after purchasing an additional 5,700 shares during the period. AE Wealth Management LLC raised its stake in shares of Transocean by 25.7% during the 3rd quarter. AE Wealth Management LLC now owns 17,289 shares of the offshore drilling services provider's stock worth $142,000 after purchasing an additional 3,532 shares in the last quarter. Valeo Financial Advisors LLC raised its stake in shares of Transocean by 12.9% during the 3rd quarter. Valeo Financial Advisors LLC now owns 23,600 shares of the offshore drilling services provider's stock worth $194,000 after purchasing an additional 2,700 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Transocean by 8.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 222,448 shares of the offshore drilling services provider's stock worth $1,826,000 after purchasing an additional 17,961 shares in the last quarter. Finally, Raymond James & Associates raised its stake in shares of Transocean by 35.1% during the 3rd quarter. Raymond James & Associates now owns 381,124 shares of the offshore drilling services provider's stock worth $3,129,000 after purchasing an additional 98,987 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Bank of America raised their target price on Transocean from $5.50 to $6.00 and gave the company an "underperform" rating in a report on Monday, April 15th. Morgan Stanley dropped their target price on Transocean from $8.00 to $7.00 and set an "equal weight" rating for the company in a research report on Monday, February 26th. Barclays decreased 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 upgraded Transocean from a "neutral" rating to a "positive" rating and lifted their price objective for the company from $5.50 to $9.00 in a report on Monday, April 8th. Finally, StockNews.com raised Transocean to a "sell" rating in a research report on Tuesday, February 20th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $8.22.

Transocean Price Performance

NYSE RIG traded up $0.13 during trading on Friday, hitting $5.87. 16,334,023 shares of the company's stock were exchanged, compared to its average volume of 18,317,052. The stock's 50 day moving average price is $5.71 and its two-hundred day moving average price is $5.99. Transocean Ltd. has a fifty-two week low of $4.45 and a fifty-two week high of $8.88. The company has a current ratio of 1.52, a quick ratio of 1.22 and a debt-to-equity ratio of 0.68. The company has a market cap of $4.81 billion, a PE ratio of -4.62 and a beta of 2.78.

Transocean (NYSE:RIG - Get Free Report) last posted its quarterly earnings results on Monday, February 19th. The offshore drilling services provider reported ($0.09) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.21) by $0.12. Transocean had a negative return on equity of 7.13% and a negative net margin of 33.69%. The firm had revenue of $741.00 million for the quarter, compared to analysts' expectations of $779.17 million. During the same period in the prior year, the business earned ($0.49) EPS. Research analysts expect that Transocean Ltd. will post 0.05 EPS for the current 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.

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