Charles Schwab Investment Management Inc. Sells 343,177 Shares of Transocean Ltd. $RIG

Key Points

• Charles Schwab Investment Management Inc. has reduced its holdings in Transocean Ltd. by 2.8%, now owning approximately $38.43 million worth of shares.
• Several institutional investors are actively buying and selling Transocean stock, indicating a dynamic interest, with 67.73% of shares currently held by institutional investors.
• Analysts have mixed views on Transocean, with price targets ranging from $3.50 to $5.00, and a consensus rating of "Hold."

Charles Schwab Investment Management Inc. lessened its holdings in Transocean Ltd. (NYSE:RIG - Free Report) by 2.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,122,357 shares of the offshore drilling services provider's stock after selling 343,177 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.37% of Transocean worth $38,428,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. First Trust Advisors LP boosted its holdings in Transocean by 51.5% in the fourth quarter. First Trust Advisors LP now owns 930,851 shares of the offshore drilling services provider's stock worth $3,491,000 after purchasing an additional 316,362 shares during the period. Gotham Asset Management LLC acquired a new position in shares of Transocean during the fourth quarter valued at $698,000. Ensign Peak Advisors Inc boosted its holdings in shares of Transocean by 17.4% during the fourth quarter. Ensign Peak Advisors Inc now owns 7,152,461 shares of the offshore drilling services provider's stock valued at $26,822,000 after acquiring an additional 1,059,893 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Transocean by 3,039.6% during the first quarter. SG Americas Securities LLC now owns 930,599 shares of the offshore drilling services provider's stock valued at $2,950,000 after acquiring an additional 900,958 shares during the period. Finally, Keybank National Association OH boosted its holdings in shares of Transocean by 14.2% during the first 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 acquiring an additional 1,672,958 shares during the period. Institutional investors and hedge funds own 67.73% of the company's stock.

Analysts Set New Price Targets

Several brokerages have 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 report on Monday, May 5th. Wall Street Zen upgraded shares of Transocean from a "sell" rating to a "hold" rating in a research report on Sunday, August 10th. Morgan Stanley dropped their price target on shares of Transocean from $4.00 to $3.50 and set an "equal weight" rating on the stock in a research report on Friday, May 16th. Finally, Barclays lifted their target price on Transocean from $3.50 to $4.00 and gave the company an "overweight" rating in a research note on Wednesday, August 13th. Four equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $4.26.

Transocean Stock Performance

Shares of RIG stock traded up $0.1950 during trading hours on Friday, reaching $3.0250. 23,536,873 shares of the company's stock were exchanged, compared to its average volume of 35,839,719. Transocean Ltd. has a fifty-two week low of $1.97 and a fifty-two week high of $5.11. The stock has a market capitalization of $2.85 billion, a P/E ratio of -1.63, a P/E/G ratio of 5.99 and a beta of 2.52. The business has a fifty day moving average price of $2.87 and a 200-day moving average price of $2.84. The company has a quick ratio of 0.99, a current ratio of 1.26 and a debt-to-equity ratio of 0.63.

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.