Exchange Traded Concepts LLC Boosts Stock Position in Transocean Ltd. (NYSE:RIG)

Exchange Traded Concepts LLC boosted its holdings in Transocean Ltd. (NYSE:RIG - Free Report) by 594.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 221,615 shares of the offshore drilling services provider's stock after acquiring an additional 189,708 shares during the period. Exchange Traded Concepts LLC's holdings in Transocean were worth $703,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its holdings in shares of Transocean by 3,039.6% during the 1st quarter. SG Americas Securities LLC now owns 930,599 shares of the offshore drilling services provider's stock worth $2,950,000 after purchasing an additional 900,958 shares during the period. Yousif Capital Management LLC purchased a new position in Transocean during the first quarter worth about $67,000. Courier Capital LLC boosted its stake in Transocean by 47.7% during the first quarter. Courier Capital LLC now owns 44,154 shares of the offshore drilling services provider's stock worth $140,000 after buying an additional 14,261 shares during the period. 180 Wealth Advisors LLC raised its stake in shares of Transocean by 40.1% in the 1st quarter. 180 Wealth Advisors LLC now owns 163,531 shares of the offshore drilling services provider's stock valued at $518,000 after acquiring an additional 46,795 shares during the period. Finally, Parallel Advisors LLC lifted 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 worth $28,000 after acquiring an additional 5,353 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Susquehanna cut their target price on Transocean from $5.00 to $4.00 and set a "positive" rating on the stock in a research report on Monday, April 14th. SEB Equity Research set a $2.80 target price on Transocean in a research note on Wednesday, March 5th. BTIG Research set a $5.00 price target on shares of Transocean and gave the stock a "buy" rating in a research note on Monday, May 5th. Barclays lowered their price objective on shares of Transocean from $4.00 to $3.50 and set an "overweight" rating for the company in a research note on Monday, April 7th. Finally, Citigroup cut their target price on shares of Transocean from $4.50 to $3.50 and set a "neutral" rating on the stock in a research note on Wednesday, March 19th. 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.com, Transocean has a consensus rating of "Hold" and an average target price of $4.58.

Transocean Stock Down 2.3%

Shares of RIG traded down $0.07 during mid-day trading on Tuesday, reaching $2.72. The company's stock had a trading volume of 41,367,236 shares, compared to its average volume of 28,761,790. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.33 and a quick ratio of 1.06. Transocean Ltd. has a 12-month low of $1.97 and a 12-month high of $5.98. The stock has a market cap of $2.40 billion, a PE ratio of -2.86, a price-to-earnings-growth ratio of 1.92 and a beta of 2.54. The company's 50 day moving average is $2.59 and its 200 day moving average is $3.13.

Transocean (NYSE:RIG - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The offshore drilling services provider reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.02. Transocean had a negative net margin of 18.79% and a negative return on equity of 0.94%. The company had revenue of $906.00 million for the quarter, compared to analyst estimates of $884.92 million. During the same period in the prior year, the firm posted ($0.03) earnings per share. The firm's revenue was up 18.7% on a year-over-year basis. Equities analysts anticipate that Transocean Ltd. will post 0.14 EPS for the current fiscal year.

Insider Activity at Transocean

In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of Transocean stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $2.78, for a total transaction of $61,160.00. Following the transaction, the executive vice president now owns 340,841 shares of the company's stock, valued at $947,537.98. The trade was a 6.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 12.54% of the company's stock.

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.