Transocean Ltd. (NYSE:RIG) Holdings Raised by Readystate Asset Management LP

Readystate Asset Management LP lifted its position in shares of Transocean Ltd. (NYSE:RIG - Free Report) by 23.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 972,234 shares of the offshore drilling services provider's stock after purchasing an additional 182,291 shares during the period. Readystate Asset Management LP owned 0.11% of Transocean worth $3,082,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Parallel Advisors LLC raised its holdings in Transocean by 154.8% in the first 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 in the last quarter. Optiver Holding B.V. raised its stake in Transocean by 53.6% during the 4th 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. Townsend & Associates Inc bought a new position in shares of Transocean in the first quarter worth about $32,000. Integrity Wealth Solutions LLC purchased a new position in Transocean in the 1st quarter worth approximately $39,000. Finally, Guardian Wealth Advisors LLC NC purchased a new position in Transocean during the 4th quarter valued at approximately $40,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Susquehanna decreased their price objective on shares of Transocean from $5.00 to $4.00 and set a "positive" rating for the company in a research note on Monday, April 14th. Wall Street Zen upgraded Transocean from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. BTIG Research set a $5.00 price target on Transocean and gave the stock a "buy" rating in a report on Monday, May 5th. Barclays decreased 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. Finally, Morgan Stanley lowered their price target 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. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $4.58.

Insider Activity at Transocean

In other Transocean 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 value of $61,160.00. Following the completion of the transaction, the executive vice president owned 340,841 shares in the company, valued at approximately $947,537.98. This represents a 6.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 12.27% of the company's stock.

Transocean Price Performance

Shares of NYSE:RIG traded down $0.09 during trading on Friday, hitting $3.00. 16,391,934 shares of the stock were exchanged, compared to its average volume of 37,634,715. 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 company has a fifty day moving average price of $2.77 and a two-hundred day moving average price of $2.98. Transocean Ltd. has a 12-month low of $1.97 and a 12-month high of $5.98. The company has a market cap of $2.65 billion, a PE ratio of -3.15, a P/E/G ratio of 5.94 and a beta of 2.50.

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

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.