Nuveen Asset Management LLC cut its stake in Transocean Ltd. (NYSE:RIG - Free Report) by 23.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,071,886 shares of the offshore drilling services provider's stock after selling 639,762 shares during the quarter. Nuveen Asset Management LLC owned 0.24% of Transocean worth $7,770,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently modified their holdings of the company. Twin Tree Management LP bought a new stake in Transocean during the fourth quarter worth $27,000. Optiver Holding B.V. boosted its holdings 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 position in Transocean by 96.2% during the fourth quarter. Blue Trust Inc. now owns 9,841 shares of the offshore drilling services provider's stock valued at $37,000 after buying an additional 4,826 shares during the period. Adero Partners LLC purchased a new stake in Transocean during the fourth quarter worth about $38,000. Finally, Stratos Wealth Partners LTD. bought a new stake in Transocean in the fourth quarter worth about $40,000. Institutional investors own 67.73% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on RIG shares. SEB Equity Research set a $2.80 price target on shares of Transocean in a research note on Wednesday, March 5th. Citigroup decreased their target price on Transocean from $4.50 to $3.50 and set a "neutral" rating for the company in a research report on Wednesday, March 19th. Barclays dropped their price target on Transocean from $4.00 to $3.50 and set an "overweight" rating on the stock in a research report on Monday, April 7th. Susquehanna cut their price target on Transocean from $5.00 to $4.00 and set a "positive" rating for the company in a research note on Monday, April 14th. Finally, Morgan Stanley lowered their price objective on Transocean from $4.00 to $3.50 and set an "equal weight" rating on the stock in a research note on Friday, May 16th. One 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, the company has an average rating of "Hold" and a consensus target price of $4.58.
Read Our Latest Report on Transocean
Insider Buying and Selling at Transocean
In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of Transocean stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $2.23, for a total transaction of $49,060.00. Following the completion of the sale, the executive vice president now owns 362,841 shares of the company's stock, valued at $809,135.43. The trade was a 5.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 12.27% of the stock is currently owned by company insiders.
Transocean Price Performance
NYSE RIG traded up $0.17 on Tuesday, hitting $2.72. The stock had a trading volume of 61,215,547 shares, compared to its average volume of 26,786,103. The firm has a 50-day moving average of $2.47 and a 200-day moving average of $3.26. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of -3.72, a price-to-earnings-growth ratio of 0.86 and a beta of 2.52. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.34 and a current ratio of 1.47. Transocean Ltd. has a 52-week low of $1.97 and a 52-week high of $5.98.
Transocean (NYSE:RIG - Get Free Report) last announced its earnings results on Monday, April 28th. The offshore drilling services provider reported ($0.10) earnings per share for the quarter, topping analysts' consensus estimates of ($0.12) by $0.02. Transocean had a negative return on equity of 0.52% and a negative net margin of 14.53%. The business 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 company earned ($0.03) EPS. The company's quarterly revenue was up 18.7% compared to the same quarter last year. Equities analysts expect that Transocean Ltd. will post 0.14 EPS for the current year.
About Transocean
(
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.
Recommended Stories
Before you consider Transocean, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Transocean wasn't on the list.
While Transocean currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
