SeaCrest Wealth Management LLC Lowers Holdings in Transocean Ltd. (NYSE:RIG)

SeaCrest Wealth Management LLC reduced its holdings in shares of Transocean Ltd. (NYSE:RIG) by 10.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 109,057 shares of the offshore drilling services provider’s stock after selling 12,818 shares during the period. SeaCrest Wealth Management LLC’s holdings in Transocean were worth $409,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in RIG. 180 Wealth Advisors LLC raised its stake in shares of Transocean by 32.6% in the fourth quarter. 180 Wealth Advisors LLC now owns 116,736 shares of the offshore drilling services provider’s stock valued at $438,000 after acquiring an additional 28,715 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in Transocean during the 4th quarter worth about $150,000. Pallas Capital Advisors LLC raised its position in Transocean by 25.6% in the 4th quarter. Pallas Capital Advisors LLC now owns 15,332 shares of the offshore drilling services provider’s stock valued at $57,000 after purchasing an additional 3,127 shares in the last quarter. Harbor Capital Advisors Inc. boosted its stake in shares of Transocean by 28.0% in the 4th quarter. Harbor Capital Advisors Inc. now owns 42,803 shares of the offshore drilling services provider’s stock valued at $161,000 after buying an additional 9,361 shares during the period. Finally, Franklin Resources Inc. acquired a new position in shares of Transocean during the third quarter worth about $157,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Transocean

In other news, EVP Roderick James Mackenzie sold 22,000 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $4.05, for a total transaction of $89,100.00. Following the completion of the sale, the executive vice president now owns 229,596 shares in the company, valued at approximately $929,863.80. This represents a 8.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 13.16% of the company’s stock.

Transocean Trading Down 4.8 %

NYSE:RIG opened at $4.08 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.64 and a debt-to-equity ratio of 0.64. Transocean Ltd. has a 52-week low of $3.40 and a 52-week high of $6.88. The stock’s 50 day moving average price is $4.05 and its 200 day moving average price is $4.50. The company has a market capitalization of $3.57 billion, a PE ratio of -5.43, a P/E/G ratio of 0.67 and a beta of 2.73.

Wall Street Analyst Weigh In

Several analysts recently weighed in on RIG shares. Susquehanna reduced their target price on shares of Transocean from $7.00 to $6.50 and set a “positive” rating on the stock in a report on Friday, November 1st. StockNews.com raised shares of Transocean to a “sell” rating in a research report on Tuesday, November 12th. Benchmark reissued a “hold” rating on shares of Transocean in a report on Tuesday, December 3rd. Morgan Stanley raised their price target on Transocean from $5.00 to $6.00 and gave the company an “equal weight” rating in a research note on Thursday, October 3rd. Finally, JPMorgan Chase & Co. raised Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 price objective for the company in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $5.94.

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.