Transocean Ltd. $RIG Shares Bought by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its stake in Transocean Ltd. by 10.9%, acquiring over 2 million additional shares, bringing its total ownership to approximately 21.35 million shares valued at $67.67 million.
• Analysts have mixed opinions on Transocean, with Barclays setting a target price of $4.00 and BTIG Research giving a buy rating, while Morgan Stanley reduced its target price to $3.50.
• Transocean's shares opened at $2.95, with a market cap of $2.78 billion, a P/E ratio of -1.59, and a 52-week trading range between $1.97 and $5.26.

American Century Companies Inc. lifted its position in Transocean Ltd. (NYSE:RIG - Free Report) by 10.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,348,095 shares of the offshore drilling services provider's stock after acquiring an additional 2,090,658 shares during the quarter. American Century Companies Inc. owned 2.42% of Transocean worth $67,673,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Optiver Holding B.V. increased 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 valued at $32,000 after acquiring an additional 2,933 shares during the period. Parallel Advisors LLC increased its holdings in shares of Transocean by 154.8% in the 1st quarter. Parallel Advisors LLC now owns 8,810 shares of the offshore drilling services provider's stock valued at $28,000 after acquiring an additional 5,353 shares during the period. Townsend & Associates Inc purchased a new position in shares of Transocean in the 1st quarter valued at $32,000. Costello Asset Management INC purchased a new position in shares of Transocean in the 1st quarter valued at $32,000. Finally, Guardian Wealth Advisors LLC NC purchased a new position in shares of Transocean in the 4th quarter valued at $40,000. 67.73% of the stock is currently owned by institutional investors.

Transocean Stock Up 7.5%

Shares of Transocean stock traded up $0.2130 during trading on Friday, reaching $3.0430. The company's stock had a trading volume of 29,755,048 shares, compared to its average volume of 22,894,620. The company has a quick ratio of 0.99, a current ratio of 1.26 and a debt-to-equity ratio of 0.63. The company has a market cap of $2.87 billion, a price-to-earnings ratio of -1.64, a P/E/G ratio of 6.05 and a beta of 2.52. Transocean Ltd. has a 1-year low of $1.97 and a 1-year high of $5.11. The company has a 50-day simple moving average of $2.87 and a two-hundred day simple moving average of $2.83.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RIG. BTIG Research set a $5.00 price target on Transocean and gave the company a "buy" rating in a report on Monday, May 5th. Barclays lifted their price target on Transocean from $3.50 to $4.00 and gave the company an "overweight" rating in a report on Wednesday, August 13th. Wall Street Zen upgraded Transocean from a "sell" rating to a "hold" rating in a report on Sunday, August 10th. Finally, Morgan Stanley lowered their price objective on Transocean from $4.00 to $3.50 and set an "equal weight" rating for the company in a research report on Friday, May 16th. Four investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $4.26.

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.