Silver Oak Securities Incorporated Cuts Holdings in Transocean Ltd. (NYSE:RIG)

Silver Oak Securities Incorporated lowered its stake in shares of Transocean Ltd. (NYSE:RIG) by 33.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,727 shares of the offshore drilling services provider’s stock after selling 8,000 shares during the quarter. Silver Oak Securities Incorporated’s holdings in Transocean were worth $58,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in RIG. Northwestern Mutual Wealth Management Co. raised its position in Transocean by 138.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,633 shares of the offshore drilling services provider’s stock valued at $25,000 after purchasing an additional 2,693 shares in the last quarter. Blue Trust Inc. increased its position in shares of 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 during the last quarter. Adero Partners LLC purchased a new position in shares of Transocean during the 4th quarter valued at about $38,000. Stratos Wealth Partners LTD. bought a new stake in Transocean in the 4th quarter worth approximately $40,000. Finally, R Squared Ltd purchased a new stake in Transocean in the fourth quarter worth approximately $41,000. 67.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. StockNews.com raised shares of Transocean to a “sell” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. raised shares of Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 price target for the company in a research note on Friday, December 6th. Evercore ISI cut Transocean from an “outperform” rating to an “in-line” rating and reduced their price objective for the company from $6.00 to $5.00 in a research note on Wednesday, January 15th. Susquehanna lowered their target price on Transocean from $7.00 to $6.50 and set a “positive” rating for the company in a research note on Friday, November 1st. Finally, Benchmark restated a “hold” rating on shares of Transocean in a research report on Tuesday, December 3rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $5.94.

Insider Activity at Transocean

In other news, EVP Roderick James Mackenzie sold 22,000 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $4.05, for a total value of $89,100.00. Following the completion of the transaction, the executive vice president now owns 229,596 shares of the company’s stock, valued at approximately $929,863.80. This represents a 8.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 13.16% of the stock is currently owned by company insiders.

Transocean Price Performance

Shares of RIG stock opened at $3.59 on Monday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.34 and a current ratio of 1.64. The firm has a market cap of $3.14 billion, a P/E ratio of -4.78, a P/E/G ratio of 0.75 and a beta of 2.70. The business’s 50 day moving average price is $3.89 and its 200-day moving average price is $4.33. Transocean Ltd. has a fifty-two week low of $3.40 and a fifty-two week high of $6.88.

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.