Capital World Investors Lowers Holdings in Transocean Ltd. (NYSE:RIG)

Capital World Investors decreased its position in shares of Transocean Ltd. (NYSE:RIG - Free Report) by 16.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,222,614 shares of the offshore drilling services provider's stock after selling 8,038,055 shares during the quarter. Capital World Investors owned 4.59% of Transocean worth $150,835,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Stifel Financial Corp raised its position in Transocean by 3.8% during the third quarter. Stifel Financial Corp now owns 152,149 shares of the offshore drilling services provider's stock valued at $647,000 after acquiring an additional 5,636 shares in the last quarter. Barclays PLC increased its holdings in shares of Transocean by 60.1% during the 3rd quarter. Barclays PLC now owns 1,623,924 shares of the offshore drilling services provider's stock valued at $6,902,000 after purchasing an additional 609,681 shares in the last quarter. Franklin Resources Inc. acquired a new position in shares of Transocean in the 3rd quarter valued at $157,000. Harbor Capital Advisors Inc. boosted its holdings in Transocean by 28.0% during the fourth quarter. Harbor Capital Advisors Inc. now owns 42,803 shares of the offshore drilling services provider's stock worth $161,000 after buying an additional 9,361 shares in the last quarter. Finally, Pallas Capital Advisors LLC grew its position in Transocean by 25.6% during the fourth quarter. Pallas Capital Advisors LLC now owns 15,332 shares of the offshore drilling services provider's stock valued at $57,000 after buying an additional 3,127 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Roderick James Mackenzie sold 22,000 shares of the stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $2.23, for a total transaction of $49,060.00. Following the completion of the transaction, the executive vice president now owns 362,841 shares of the company's stock, valued at approximately $809,135.43. This trade represents a 5.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 13.16% of the stock is owned by insiders.

Transocean Price Performance

Shares of NYSE:RIG traded up $0.04 during midday trading on Friday, hitting $2.33. The company had a trading volume of 25,378,399 shares, compared to its average volume of 24,461,077. Transocean Ltd. has a twelve month low of $1.97 and a twelve month high of $6.38. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of -3.19, a price-to-earnings-growth ratio of 0.86 and a beta of 2.29. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.47 and a quick ratio of 1.34. The business's 50-day simple moving average is $2.79 and its 200-day simple moving average is $3.60.

Transocean (NYSE:RIG - Get Free Report) last posted its quarterly earnings results on Monday, February 17th. The offshore drilling services provider reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.11). Transocean had a negative return on equity of 0.52% and a negative net margin of 14.53%. The company had revenue of $952.00 million for the quarter, compared to analysts' expectations of $962.28 million. On average, research analysts predict that Transocean Ltd. will post 0.14 earnings per share for the current year.

Wall Street Analyst Weigh In

RIG has been the subject of several recent analyst reports. Barclays cut their price target on Transocean from $4.00 to $3.50 and set an "overweight" rating for the company in a research note on Monday, April 7th. Susquehanna reduced their price objective on shares of Transocean from $5.00 to $4.00 and set a "positive" rating for the company in a research report on Monday, April 14th. SEB Equity Research set a $2.80 price objective on shares of Transocean in a 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 note on Wednesday, March 19th. Finally, TD Cowen decreased their price target on shares of Transocean from $6.50 to $5.50 and set a "hold" rating on the stock in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $4.59.

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.