Gotham Asset Management LLC acquired a new position in Transocean Ltd. (NYSE:RIG - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 186,147 shares of the offshore drilling services provider's stock, valued at approximately $698,000.
A number of other hedge funds have also bought and sold shares of the business. Twin Tree Management LP bought a new stake in Transocean in the 4th quarter worth approximately $27,000. Optiver Holding B.V. boosted its stake 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 buying an additional 2,933 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Transocean by 96.2% in the fourth quarter. Blue Trust Inc. now owns 9,841 shares of the offshore drilling services provider's stock worth $37,000 after acquiring an additional 4,826 shares during the period. Adero Partners LLC bought a new stake in shares of Transocean in the fourth quarter worth $38,000. Finally, Stratos Wealth Partners LTD. purchased a new stake in Transocean during the fourth quarter valued at $40,000. Hedge funds and other institutional investors own 67.73% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the company. BTIG Research set a $5.00 price target on Transocean and gave the company a "buy" rating in a research note on Monday, May 5th. Barclays reduced their target price on shares of Transocean from $4.00 to $3.50 and set an "overweight" rating for the company in a report on Monday, April 7th. SEB Equity Research set a $2.80 price target on shares of Transocean in a research note on Wednesday, March 5th. Citigroup cut their price objective on shares of Transocean from $4.50 to $3.50 and set a "neutral" rating for the company in a research report on Wednesday, March 19th. Finally, Morgan Stanley decreased their target price on Transocean from $4.00 to $3.50 and set an "equal weight" rating on the stock in a report on Friday. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $4.58.
Read Our Latest Stock Report on RIG
Transocean Stock Performance
NYSE:RIG opened at $2.62 on Monday. The stock has a 50-day moving average price of $2.61 and a 200 day moving average price of $3.41. The stock has a market capitalization of $2.31 billion, a P/E ratio of -3.58, a P/E/G ratio of 0.86 and a beta of 2.52. Transocean Ltd. has a 12-month low of $1.97 and a 12-month high of $6.38. The company has a current ratio of 1.47, a quick ratio of 1.34 and a debt-to-equity ratio of 0.60.
Transocean (NYSE:RIG - Get Free Report) last posted its earnings results on Monday, April 28th. The offshore drilling services provider reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.02. The company had revenue of $906.00 million during the quarter, compared to analysts' expectations of $884.92 million. Transocean had a negative net margin of 14.53% and a negative return on equity of 0.52%. Transocean's quarterly revenue was up 18.7% on a year-over-year basis. During the same period last year, the company posted ($0.03) earnings per share. Equities research analysts forecast that Transocean Ltd. will post 0.14 EPS for the current fiscal year.
Insider Transactions at Transocean
In related news, EVP Roderick James Mackenzie sold 22,000 shares of the firm's stock in a transaction on Friday, April 11th. The shares were sold at an average price of $2.23, for a total value of $49,060.00. Following the completion of the transaction, the executive vice president now directly owns 362,841 shares of the company's stock, valued at approximately $809,135.43. This trade represents a 5.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 12.27% of the company's stock.
Transocean Profile
(
Free Report)
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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