Banque Cantonale Vaudoise Acquires Shares of 120,419 Transocean Ltd. (NYSE:RIG)

Key Points

• Banque Cantonale Vaudoise has acquired a new stake in Transocean Ltd., purchasing 120,419 shares valued at approximately $382,000 during the first quarter of the year.
• Institutional ownership of Transocean remains significant, with hedge funds owning 67.73% of the stock and recent investment shifts from firms like Vanguard Group and Prudential Financial.
• Analysts have varied recommendations for Transocean, with a consensus rating of "Hold" and an average price target of $4.58, reflecting varied confidence in the company's stock performance.

Banque Cantonale Vaudoise bought a new stake in shares of Transocean Ltd. (NYSE:RIG - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 120,419 shares of the offshore drilling services provider's stock, valued at approximately $382,000.

Several other institutional investors and hedge funds also recently made changes to their positions in RIG. Raymond James Financial Inc. bought a new position in Transocean during the fourth quarter worth $893,000. KLP Kapitalforvaltning AS acquired a new position in Transocean during the fourth quarter worth about $547,000. Vanguard Group Inc. boosted its position in shares of Transocean by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 78,811,863 shares of the offshore drilling services provider's stock valued at $295,544,000 after purchasing an additional 931,684 shares during the period. Prudential Financial Inc. boosted its position in Transocean by 899.8% during the 4th quarter. Prudential Financial Inc. now owns 495,675 shares of the offshore drilling services provider's stock worth $1,859,000 after acquiring an additional 446,100 shares during the period. Finally, Pictet Asset Management Holding SA boosted its position in Transocean by 11.7% during the 4th quarter. Pictet Asset Management Holding SA now owns 116,060 shares of the offshore drilling services provider's stock worth $435,000 after acquiring an additional 12,136 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Transocean Price Performance

Shares of RIG stock opened at $2.81 on Friday. The stock's fifty day moving average is $2.82 and its 200-day moving average is $2.94. The stock has a market capitalization of $2.48 billion, a PE ratio of -2.96, a PEG ratio of 5.62 and a beta of 2.52. Transocean Ltd. has a 52 week low of $1.97 and a 52 week high of $5.32. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.06 and a current ratio of 1.33.

Insider Transactions at Transocean

In related news, EVP Roderick James Mackenzie sold 22,000 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $2.78, for a total value of $61,160.00. Following the transaction, the executive vice president owned 340,841 shares in the company, valued at $947,537.98. This trade represents a 6.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 12.27% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on RIG shares. Susquehanna reduced their price target on Transocean from $5.00 to $4.00 and set a "positive" rating for the company in a report on Monday, April 14th. Wall Street Zen downgraded Transocean from a "hold" rating to a "sell" rating in a research report on Saturday. BTIG Research set a $5.00 price target on Transocean and gave the stock a "buy" rating in a research report on Monday, May 5th. Barclays dropped their price target on Transocean from $4.00 to $3.50 and set an "overweight" rating on the stock in a research report on Monday, April 7th. Finally, Morgan Stanley cut their target price on Transocean from $4.00 to $3.50 and set an "equal weight" rating for the company in a research note on Friday, May 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Transocean presently has a consensus rating of "Hold" and an average price target of $4.58.

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.

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