Transocean Ltd. (NYSE:RIG) Shares Sold by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP reduced its position in Transocean Ltd. (NYSE:RIG - Free Report) by 86.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 49,543 shares of the offshore drilling services provider's stock after selling 307,745 shares during the period. ExodusPoint Capital Management LP's holdings in Transocean were worth $186,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Twin Tree Management LP acquired a new stake in shares of Transocean during the fourth quarter worth about $27,000. Blue Trust Inc. lifted its position in Transocean by 96.2% during the 4th quarter. Blue Trust Inc. now owns 9,841 shares of the offshore drilling services provider's stock worth $37,000 after acquiring an additional 4,826 shares during the period. Adero Partners LLC acquired a new position in shares of Transocean in the fourth quarter valued at approximately $38,000. Stratos Wealth Partners LTD. purchased a new stake in shares of Transocean during the fourth quarter worth approximately $40,000. Finally, R Squared Ltd purchased a new position in Transocean in the 4th quarter valued at $41,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Transocean Price Performance

Shares of Transocean stock traded up $0.12 during trading on Friday, hitting $2.28. 44,828,532 shares of the company were exchanged, compared to its average volume of 24,140,492. Transocean Ltd. has a fifty-two week low of $1.97 and a fifty-two week high of $6.38. 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 firm has a 50 day moving average price of $2.92 and a 200 day moving average price of $3.67. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of -3.12, a P/E/G ratio of 0.86 and a beta of 2.29.

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

Wall Street Analyst Weigh In

Several research firms have recently commented on RIG. Citigroup reduced 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. Barclays dropped their target price on Transocean from $4.00 to $3.50 and set an "overweight" rating on the stock in a research report on Monday, April 7th. TD Cowen reduced their price target on Transocean from $6.50 to $5.50 and set a "hold" rating for the company in a report on Wednesday, January 8th. Susquehanna dropped their price objective on Transocean from $5.00 to $4.00 and set a "positive" rating on the stock in a report on Monday, April 14th. Finally, SEB Equity Research set a $2.80 price objective on Transocean in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Transocean presently has a consensus rating of "Hold" and an average price target of $4.59.

Insider Activity

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

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.