Interval Partners LP Takes $477,000 Position in Transocean Ltd. (NYSE:RIG)

Interval Partners LP acquired a new position in shares of Transocean Ltd. (NYSE:RIG - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 127,240 shares of the offshore drilling services provider's stock, valued at approximately $477,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Transocean by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 78,811,863 shares of the offshore drilling services provider's stock worth $295,544,000 after purchasing an additional 931,684 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Transocean by 2.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 40,008,596 shares of the offshore drilling services provider's stock worth $150,029,000 after buying an additional 809,864 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Transocean by 51.5% in the fourth quarter. American Century Companies Inc. now owns 19,257,437 shares of the offshore drilling services provider's stock valued at $72,215,000 after acquiring an additional 6,542,271 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Transocean by 33.9% in the fourth quarter. Van ECK Associates Corp now owns 15,393,873 shares of the offshore drilling services provider's stock valued at $57,727,000 after acquiring an additional 3,895,880 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Transocean by 7.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,465,534 shares of the offshore drilling services provider's stock worth $46,746,000 after acquiring an additional 859,214 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Insider Buying and Selling at Transocean

In related news, EVP Roderick James Mackenzie sold 22,000 shares of Transocean stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $2.78, for a total value of $61,160.00. Following the sale, the executive vice president now owns 340,841 shares of the company's stock, valued at approximately $947,537.98. The trade was a 6.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 12.27% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. BTIG Research set a $5.00 price objective on Transocean and gave the company a "buy" rating in a research report on Monday, May 5th. Susquehanna cut their price target on Transocean from $5.00 to $4.00 and set a "positive" rating for the company in a report on Monday, April 14th. Citigroup reduced their price target on shares of Transocean from $4.50 to $3.50 and set a "neutral" rating on the stock in a research report on Wednesday, March 19th. Morgan Stanley dropped their target price on shares of Transocean from $4.00 to $3.50 and set an "equal weight" rating for the company in a research note on Friday. Finally, SEB Equity Research set a $2.80 target price on shares of Transocean in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $4.58.

Transocean Trading Down 1.7%

Shares of RIG traded down $0.05 during trading hours on Friday, reaching $2.62. The stock had a trading volume of 35,194,978 shares, compared to its average volume of 25,788,235. The firm has a 50-day moving average of $2.61 and a 200 day moving average of $3.43. 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 has a market cap of $2.31 billion, a P/E ratio of -3.58, a P/E/G ratio of 0.86 and a beta of 2.52. Transocean Ltd. has a 52 week low of $1.97 and a 52 week high of $6.38.

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