Ensign Peak Advisors Inc boosted its stake in Transocean Ltd. (NYSE:RIG - Free Report) by 17.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,152,461 shares of the offshore drilling services provider's stock after purchasing an additional 1,059,893 shares during the quarter. Ensign Peak Advisors Inc owned approximately 0.82% of Transocean worth $26,822,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also added to or reduced their stakes in the stock. Twin Tree Management LP bought a new stake in Transocean during the 4th quarter worth approximately $27,000. Optiver Holding B.V. boosted its holdings in shares of Transocean by 53.6% in the 4th quarter. Optiver Holding B.V. now owns 8,400 shares of the offshore drilling services provider's stock worth $32,000 after purchasing an additional 2,933 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Transocean by 96.2% during the 4th quarter. Blue Trust Inc. now owns 9,841 shares of the offshore drilling services provider's stock valued at $37,000 after buying an additional 4,826 shares in the last quarter. Adero Partners LLC bought a new stake in Transocean in the 4th quarter worth approximately $38,000. Finally, Stratos Wealth Partners LTD. purchased a new stake in Transocean in the fourth quarter worth approximately $40,000. Institutional investors own 67.73% of the company's stock.
Insider Buying and Selling at Transocean
In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of the business's stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $2.23, for a total transaction 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 approximately $809,135.43. The trade was a 5.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 12.27% of the stock is owned by corporate insiders.
Transocean Stock Up 2.2%
Shares of RIG stock traded up $0.06 during mid-day trading on Wednesday, hitting $2.79. The company's stock had a trading volume of 40,489,823 shares, compared to its average volume of 25,649,459. Transocean Ltd. has a 52-week low of $1.97 and a 52-week high of $6.38. The business has a 50-day moving average price of $2.63 and a 200 day moving average price of $3.45. The stock has a market cap of $2.46 billion, a price-to-earnings ratio of -3.82, a PEG ratio of 0.86 and a beta of 2.52. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.34 and a current ratio of 1.47.
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 return on equity of 0.52% and a negative net margin of 14.53%. The firm had revenue of $906.00 million for the quarter, compared to analysts' expectations of $884.92 million. During the same period in the prior year, the firm earned ($0.03) EPS. The company's revenue was up 18.7% compared to the same quarter last year. Research analysts predict that Transocean Ltd. will post 0.14 EPS for the current fiscal year.
Analyst Ratings Changes
RIG has been the topic of a number of recent research reports. SEB Equity Research set a $2.80 price objective on Transocean in a research note on Wednesday, March 5th. Susquehanna lowered their price target on shares of Transocean from $5.00 to $4.00 and set a "positive" rating for the company in a report on Monday, April 14th. Citigroup lowered their price target on shares of Transocean from $4.50 to $3.50 and set a "neutral" rating for the company in a report on Wednesday, March 19th. BTIG Research set a $5.00 price target on shares of Transocean and gave the company a "buy" rating in a report on Monday, May 5th. Finally, Barclays lowered their price target on shares of Transocean from $4.00 to $3.50 and set an "overweight" rating for the company in a report on Monday, April 7th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $4.63.
Get Our Latest Stock Analysis on RIG
Transocean Company Profile
(
Free Report)
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.
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