GTS Securities LLC trimmed its holdings in shares of Transocean Ltd. (NYSE:RIG - Free Report) by 90.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,377 shares of the offshore drilling services provider's stock after selling 323,020 shares during the period. GTS Securities LLC's holdings in Transocean were worth $125,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the business. Twin Tree Management LP acquired a new stake in Transocean during the fourth quarter worth about $27,000. Optiver Holding B.V. boosted its position in 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 in the last quarter. Blue Trust Inc. grew its stake in shares of Transocean by 96.2% during the 4th quarter. Blue Trust Inc. now owns 9,841 shares of the offshore drilling services provider's stock worth $37,000 after purchasing an additional 4,826 shares during the period. Adero Partners LLC purchased a new position in shares of Transocean during the 4th quarter valued at approximately $38,000. Finally, Stratos Wealth Partners LTD. acquired a new position in shares of Transocean in the 4th quarter valued at $40,000. 67.73% of the stock is owned by hedge funds and other institutional investors.
Transocean Price Performance
RIG stock traded up $0.20 during trading on Tuesday, hitting $2.75. The stock had a trading volume of 53,473,157 shares, compared to its average volume of 26,763,328. Transocean Ltd. has a twelve month low of $1.97 and a twelve month high of $6.25. The company's 50-day moving average price is $2.48 and its two-hundred day moving average price is $3.27. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.47 and a quick ratio of 1.34. The stock has a market capitalization of $2.43 billion, a P/E ratio of -3.77, a PEG ratio of 0.86 and a beta of 2.52.
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 for the quarter, beating the consensus estimate of ($0.12) by $0.02. The business had revenue of $906.00 million for the quarter, compared to the consensus estimate of $884.92 million. Transocean had a negative return on equity of 0.52% and a negative net margin of 14.53%. The business's quarterly revenue was up 18.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.03) earnings per share. As a group, research analysts predict that Transocean Ltd. will post 0.14 EPS for the current fiscal year.
Insider Buying and Selling at Transocean
In related news, EVP Roderick James Mackenzie sold 22,000 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $2.78, for a total transaction of $61,160.00. Following the completion of the sale, the executive vice president now owns 340,841 shares of the company's stock, valued at approximately $947,537.98. This represents a 6.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 12.27% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
Several analysts recently commented on the stock. SEB Equity Research set a $2.80 price target on shares of Transocean in a research report on Wednesday, March 5th. Barclays lowered their target price on shares of Transocean from $4.00 to $3.50 and set an "overweight" rating on the stock in a research note on Monday, April 7th. Morgan Stanley cut their price target on Transocean from $4.00 to $3.50 and set an "equal weight" rating for the company in a research note on Friday, May 16th. Citigroup reduced their price target on Transocean from $4.50 to $3.50 and set a "neutral" rating for the company in a report on Wednesday, March 19th. Finally, BTIG Research set a $5.00 price objective on Transocean and gave the company a "buy" rating in a report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Transocean currently has an average rating of "Hold" and a consensus target price of $4.58.
View Our Latest Stock Report on Transocean
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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