Banque Cantonale Vaudoise Purchases New Position in 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 acquired a new stake in shares of Transocean Ltd. (NYSE:RIG - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 120,419 shares of the offshore drilling services provider's stock, valued at approximately $382,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Renaissance Technologies LLC bought a new position in shares of Transocean during the fourth quarter valued at approximately $16,608,000. SIR Capital Management L.P. bought a new stake in Transocean during the 4th quarter valued at approximately $14,976,000. Kettle Hill Capital Management LLC grew its holdings in shares of Transocean by 85.7% during the 4th quarter. Kettle Hill Capital Management LLC now owns 4,812,608 shares of the offshore drilling services provider's stock worth $18,047,000 after acquiring an additional 2,221,186 shares during the period. Keybank National Association OH lifted its stake in shares of Transocean by 14.2% in the 1st quarter. Keybank National Association OH now owns 13,480,351 shares of the offshore drilling services provider's stock valued at $42,733,000 after purchasing an additional 1,672,958 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in Transocean in the fourth quarter worth $4,250,000. Institutional investors own 67.73% of the company's stock.

Transocean Price Performance

NYSE:RIG traded up $0.14 during trading hours on Wednesday, hitting $3.05. 38,911,938 shares of the stock traded hands, compared to its average volume of 37,155,422. The company has a quick ratio of 1.06, a current ratio of 1.33 and a debt-to-equity ratio of 0.58. The company has a market cap of $2.69 billion, a price-to-earnings ratio of -1.64, a price-to-earnings-growth ratio of 6.01 and a beta of 2.52. The stock has a 50 day moving average price of $2.84 and a 200 day moving average price of $2.91. Transocean Ltd. has a 1 year low of $1.97 and a 1 year high of $5.32.

Insiders Place Their Bets

In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of Transocean stock in a transaction on Monday, May 12th. The shares were sold at an average price of $2.78, for a total value of $61,160.00. Following the completion of the transaction, the executive vice president directly owned 340,841 shares of the company's stock, valued at $947,537.98. This trade represents a 6.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 12.27% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RIG. BTIG Research set a $5.00 price target on shares of Transocean and gave the company a "buy" rating in a research report on Monday, May 5th. Wall Street Zen cut Transocean from a "hold" rating to a "sell" rating in a research note on Saturday. Morgan Stanley reduced their price target on shares of Transocean from $4.00 to $3.50 and set an "equal weight" rating for the company in a research report on Friday, May 16th. Finally, Susquehanna cut their target price on Transocean from $5.00 to $4.00 and set a "positive" rating on the stock in a research note on Monday, April 14th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $4.20.

About Transocean

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.