Exchange Traded Concepts LLC Has $703,000 Holdings in Transocean Ltd. (NYSE:RIG)

Exchange Traded Concepts LLC lifted its stake in Transocean Ltd. (NYSE:RIG - Free Report) by 594.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 221,615 shares of the offshore drilling services provider's stock after purchasing 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 quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Twin Tree Management LP bought a new position in shares of Transocean in the 4th quarter worth $27,000. Parallel Advisors LLC boosted its position 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 purchasing an additional 5,353 shares during the last quarter. Optiver Holding B.V. boosted its position 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 worth $32,000 after purchasing an additional 2,933 shares during the last quarter. Guardian Wealth Advisors LLC NC bought a new position in Transocean during the fourth quarter worth about $40,000. Finally, Transcend Capital Advisors LLC bought a new position in Transocean during the fourth quarter worth about $41,000. 67.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on RIG shares. BTIG Research set a $5.00 target price on Transocean and gave the stock a "buy" rating in a report on Monday, May 5th. Barclays reduced their target price on Transocean from $4.00 to $3.50 and set an "overweight" rating on the stock in a report on Monday, April 7th. Citigroup reduced their target price on Transocean from $4.50 to $3.50 and set a "neutral" rating on the stock in a report on Wednesday, March 19th. Susquehanna cut their price target on Transocean from $5.00 to $4.00 and set a "positive" rating on the stock in a report on Monday, April 14th. Finally, SEB Equity Research set a $2.80 price target on Transocean in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Transocean has a consensus rating of "Hold" and a consensus target price of $4.58.

Transocean Stock Down 6.0%

Shares of Transocean stock traded down $0.19 during trading on Friday, reaching $2.91. The stock had a trading volume of 61,334,715 shares, compared to its average volume of 28,598,906. Transocean Ltd. has a 52 week low of $1.97 and a 52 week high of $5.98. The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of -3.06, a P/E/G ratio of 1.92 and a beta of 2.54. The company has a current ratio of 1.33, a quick ratio of 1.06 and a debt-to-equity ratio of 0.58. The stock has a fifty day moving average price of $2.58 and a two-hundred day moving average price of $3.15.

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

Insider Buying and Selling

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

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.