Willis Johnson & Associates Inc. Sells 2,500 Shares of Transocean Ltd. (NYSE:RIG)

Willis Johnson & Associates Inc. trimmed its position in Transocean Ltd. (NYSE:RIG) by 10.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,321 shares of the offshore drilling services provider’s stock after selling 2,500 shares during the quarter. Willis Johnson & Associates Inc.’s holdings in Transocean were worth $119,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of RIG. Lisanti Capital Growth LLC increased its holdings in Transocean by 12.9% during the 2nd quarter. Lisanti Capital Growth LLC now owns 805,520 shares of the offshore drilling services provider’s stock worth $4,310,000 after acquiring an additional 92,130 shares during the period. nVerses Capital LLC boosted its stake in Transocean by 1,471.4% during the second quarter. nVerses Capital LLC now owns 55,000 shares of the offshore drilling services provider’s stock valued at $294,000 after buying an additional 51,500 shares during the period. International Assets Investment Management LLC grew its position in Transocean by 12.8% during the second quarter. International Assets Investment Management LLC now owns 45,192 shares of the offshore drilling services provider’s stock worth $242,000 after buying an additional 5,130 shares in the last quarter. Deuterium Capital Management LLC increased its stake in Transocean by 100.0% in the 2nd quarter. Deuterium Capital Management LLC now owns 60,000 shares of the offshore drilling services provider’s stock worth $321,000 after acquiring an additional 30,000 shares during the last quarter. Finally, Principal Financial Group Inc. purchased a new position in shares of Transocean during the second quarter worth about $383,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Transocean Price Performance

Shares of NYSE RIG remained flat at $4.74 during midday trading on Monday. The stock had a trading volume of 14,876,600 shares, compared to its average volume of 17,873,709. The company’s 50 day simple moving average is $5.21 and its two-hundred day simple moving average is $5.51. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.08 and a current ratio of 1.36. Transocean Ltd. has a 12 month low of $4.45 and a 12 month high of $8.88. The company has a market cap of $4.46 billion, a PE ratio of -9.12 and a beta of 2.85.

Transocean (NYSE:RIG) last released its quarterly earnings data on Wednesday, July 31st. The offshore drilling services provider reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.07). Transocean had a negative net margin of 11.34% and a negative return on equity of 4.76%. The company had revenue of $861.00 million for the quarter, compared to analysts’ expectations of $862.25 million. During the same period last year, the company posted ($0.15) EPS. The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. As a group, equities research analysts expect that Transocean Ltd. will post -0.19 EPS for the current year.

Insider Buying and Selling at Transocean

In other news, Director (Cyprus) Ltd Perestroika bought 2,000,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was bought at an average cost of $5.23 per share, for a total transaction of $10,460,000.00. Following the completion of the acquisition, the director now owns 89,574,894 shares in the company, valued at approximately $468,476,695.62. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 13.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Benchmark reiterated a “buy” rating and set a $8.00 target price on shares of Transocean in a research report on Friday, August 2nd. StockNews.com upgraded Transocean to a “sell” rating in a research report on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $7.25.

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.