Transocean Ltd. (NYSE:RIG) Holdings Boosted by Hosking Partners LLP

Key Points

• Hosking Partners LLP increased its stake in Transocean Ltd. by 26.1%, owning approximately 2.15 million shares worth $6.8 million after purchasing 444,521 additional shares in Q1.
• Several institutional investors, including Parallel Advisors LLC and Optiver Holding B.V., have also significantly boosted their holdings in Transocean, marking a trend where 67.73% of the stock is owned by institutional investors.
• Analyst ratings for Transocean have varied, with a recent downgrade from Susquehanna setting a price target of $4.00, while Morgan Stanley set a lower target of $3.50, indicating a mix of optimism and caution in the market.

Hosking Partners LLP increased its position in Transocean Ltd. (NYSE:RIG - Free Report) by 26.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,150,664 shares of the offshore drilling services provider's stock after purchasing an additional 444,521 shares during the period. Hosking Partners LLP owned 0.24% of Transocean worth $6,818,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of RIG. Optiver Holding B.V. boosted its position in shares of Transocean by 53.6% during the fourth quarter. Optiver Holding B.V. now owns 8,400 shares of the offshore drilling services provider's stock valued at $32,000 after buying an additional 2,933 shares during the last quarter. Van Den Berg Management I Inc. grew its holdings in Transocean by 11.9% during the 4th quarter. Van Den Berg Management I Inc. now owns 28,155 shares of the offshore drilling services provider's stock valued at $106,000 after buying an additional 3,000 shares in the last quarter. Nomura Holdings Inc. grew its holdings in Transocean by 11.6% during the 4th quarter. Nomura Holdings Inc. now owns 32,651 shares of the offshore drilling services provider's stock valued at $122,000 after buying an additional 3,390 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Transocean by 23.5% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 19,015 shares of the offshore drilling services provider's stock worth $71,000 after purchasing an additional 3,620 shares during the period. Finally, Avantax Advisory Services Inc. boosted its holdings in shares of Transocean by 4.2% in the 1st quarter. Avantax Advisory Services Inc. now owns 111,502 shares of the offshore drilling services provider's stock worth $353,000 after purchasing an additional 4,490 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Transocean Price Performance

Shares of RIG traded up $0.14 on Friday, reaching $3.09. The stock had a trading volume of 24,029,437 shares, compared to its average volume of 29,830,704. Transocean Ltd. has a twelve month low of $1.97 and a twelve month high of $5.32. The company has a quick ratio of 0.99, a current ratio of 1.26 and a debt-to-equity ratio of 0.63. The firm has a 50-day moving average of $2.86 and a 200 day moving average of $2.88. The firm has a market capitalization of $2.91 billion, a PE ratio of -1.66, a PEG ratio of 6.63 and a beta of 2.52.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Morgan Stanley decreased their target price on Transocean from $4.00 to $3.50 and set an "equal weight" rating for the company in a research report on Friday, May 16th. 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. Susquehanna reduced their price target on Transocean from $5.00 to $4.00 and set a "positive" rating for the company in a report on Monday, April 14th. Finally, Wall Street Zen raised Transocean from a "sell" rating to a "hold" rating in a report on Sunday. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Transocean currently has an average rating of "Hold" and an average target price of $4.20.

Insider Buying and Selling at Transocean

In other news, EVP Roderick James Mackenzie sold 22,000 shares of the company's stock in a transaction 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 completion of the sale, the executive vice president directly owned 340,841 shares in the company, valued at $947,537.98. This represents a 6.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 12.54% of the stock is currently owned by corporate insiders.

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.