Raymond James Financial Inc. Purchases Shares of 238,152 Transocean Ltd. (NYSE:RIG)

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

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RIG. Muhlenkamp & Co. Inc. increased its position in Transocean by 0.8% during the 4th quarter. Muhlenkamp & Co. Inc. now owns 1,024,601 shares of the offshore drilling services provider's stock worth $3,842,000 after purchasing an additional 7,636 shares during the period. Advisory Services Network LLC increased its position in Transocean by 15.0% during the 4th quarter. Advisory Services Network LLC now owns 235,223 shares of the offshore drilling services provider's stock worth $882,000 after purchasing an additional 30,629 shares during the period. Cooper Haims Advisors LLC acquired a new position in Transocean during the 4th quarter worth approximately $41,000. Renaissance Technologies LLC acquired a new position in Transocean during the 4th quarter worth approximately $16,608,000. Finally, Bank of Montreal Can increased its position in Transocean by 8.3% during the 4th quarter. Bank of Montreal Can now owns 400,210 shares of the offshore drilling services provider's stock worth $1,501,000 after purchasing an additional 30,778 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 equities research analysts recently weighed in on RIG shares. Evercore ISI cut Transocean from an "outperform" rating to an "in-line" rating and lowered their price target for the stock from $6.00 to $5.00 in a report on Wednesday, January 15th. Susquehanna lowered their price target on Transocean from $5.00 to $4.00 and set a "positive" rating on the stock in a report on Monday, April 14th. Morgan Stanley lowered their price target on Transocean from $5.00 to $4.00 and set an "equal weight" rating on the stock in a report on Thursday, March 27th. BTIG Research set a $5.00 price target on Transocean and gave the stock a "buy" rating in a report on Monday, May 5th. Finally, Barclays lowered their price target on Transocean from $4.00 to $3.50 and set an "overweight" rating on the stock in a report on Monday, April 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $4.63.

Insider Transactions 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 stock was sold at an average price of $3.85, for a total transaction of $84,700.00. Following the transaction, the executive vice president now directly owns 313,072 shares of the company's stock, valued at approximately $1,205,327.20. The trade was a 6.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 12.54% of the stock is owned by insiders.

Transocean Stock Performance

RIG stock traded up $0.12 during trading on Friday, reaching $2.62. 38,180,064 shares of the company's stock were exchanged, compared to its average volume of 25,378,024. Transocean Ltd. has a 1-year low of $1.97 and a 1-year high of $6.38. The company has a quick ratio of 1.34, a current ratio of 1.47 and a debt-to-equity ratio of 0.60. The company's fifty day moving average price is $2.63 and its 200-day moving average price is $3.46. The firm has a market cap of $2.31 billion, a PE ratio of -3.59, a P/E/G ratio of 0.86 and a beta of 2.52.

Transocean (NYSE:RIG - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The offshore drilling services provider reported ($0.10) EPS for the quarter, topping analysts' consensus estimates of ($0.12) by $0.02. Transocean had a negative return on equity of 0.52% and a negative net margin of 14.53%. The company had revenue of $906.00 million for the quarter, compared to the consensus estimate of $884.92 million. During the same quarter in the previous year, the business earned ($0.03) EPS. The company's quarterly revenue was up 18.7% compared to the same quarter last year. On average, research analysts expect that Transocean Ltd. will post 0.14 EPS for the current fiscal year.

About Transocean

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.