SIR Capital Management L.P. Buys New Shares in Transocean Ltd. (NYSE:RIG)

SIR Capital Management L.P. acquired a new stake in Transocean Ltd. (NYSE:RIG - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,993,676 shares of the offshore drilling services provider's stock, valued at approximately $14,976,000. Transocean accounts for about 1.6% of SIR Capital Management L.P.'s investment portfolio, making the stock its 24th largest holding. SIR Capital Management L.P. owned about 0.46% of Transocean as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in RIG. ProShare Advisors LLC lifted its stake in shares of Transocean by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 205,404 shares of the offshore drilling services provider's stock valued at $770,000 after purchasing an additional 67,583 shares during the period. Quantinno Capital Management LP lifted its position in shares of Transocean by 263.1% during the 4th quarter. Quantinno Capital Management LP now owns 58,160 shares of the offshore drilling services provider's stock valued at $218,000 after acquiring an additional 42,144 shares during the period. Nomura Holdings Inc. boosted its stake in shares of Transocean by 11.6% during the 4th quarter. Nomura Holdings Inc. now owns 32,651 shares of the offshore drilling services provider's stock worth $122,000 after acquiring an additional 3,390 shares in the last quarter. Occudo Quantitative Strategies LP acquired a new stake in shares of Transocean in the 4th quarter worth approximately $553,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Transocean by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 415,074 shares of the offshore drilling services provider's stock worth $1,557,000 after acquiring an additional 15,826 shares during the period. Hedge funds and other institutional investors own 67.73% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Susquehanna decreased their target price on Transocean from $5.00 to $4.00 and set a "positive" rating on the stock in a research report on Monday, April 14th. SEB Equity Research set a $2.80 price objective on shares of Transocean in a research report on Wednesday, March 5th. Citigroup cut their target price on shares of Transocean from $4.50 to $3.50 and set a "neutral" rating for the company in a research report on Wednesday, March 19th. Barclays reduced their price target on shares of Transocean from $4.00 to $3.50 and set an "overweight" rating on the stock in a report on Monday, April 7th. Finally, BTIG Research set a $5.00 price objective on shares of Transocean and gave the stock a "buy" rating in a research note on Monday, May 5th. One research 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 MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $4.58.

Insiders Place Their Bets

In other news, EVP Roderick James Mackenzie sold 22,000 shares of the firm's stock in a transaction on Friday, April 11th. The stock was sold at an average price of $2.23, for a total value of $49,060.00. Following the completion of the sale, the executive vice president now owns 362,841 shares of the company's stock, valued at $809,135.43. This trade represents a 5.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 12.27% of the company's stock.

Transocean Price Performance

RIG stock traded down $0.03 during trading hours on Monday, hitting $2.58. 43,383,579 shares of the stock traded hands, compared to its average volume of 25,995,140. The company has a market cap of $2.28 billion, a P/E ratio of -3.53, a P/E/G ratio of 0.86 and a beta of 2.52. The company has a current ratio of 1.47, a quick ratio of 1.34 and a debt-to-equity ratio of 0.60. The stock has a 50-day simple moving average of $2.60 and a 200 day simple moving average of $3.40. Transocean Ltd. has a one year low of $1.97 and a one year high of $6.38.

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