Russell Investments Group Ltd. Reduces Stock Holdings in Transocean Ltd. $RIG

Key Points

• Russell Investments Group Ltd. reduced its stake in Transocean Ltd. by 24.7% during Q1, owning 720,503 shares valued at approximately $2.29 million.
• Analysts have varied opinions on Transocean's stock, with Barclays upgrading their price target to $4.00, while Morgan Stanley lowered theirs to $3.50, leading to a current consensus rating of "Hold."
• The stock has a current trading range with a 1-year low of $1.97 and a high of $5.11, demonstrating significant volatility in its market performance over the last year.

Russell Investments Group Ltd. reduced its stake in shares of Transocean Ltd. (NYSE:RIG - Free Report) by 24.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 720,503 shares of the offshore drilling services provider's stock after selling 236,523 shares during the period. Russell Investments Group Ltd. owned 0.08% of Transocean worth $2,285,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of RIG. Raymond James Financial Inc. bought a new position in Transocean during the 4th quarter worth $893,000. Mariner LLC raised its position in shares of Transocean by 46.2% in the 4th quarter. Mariner LLC now owns 140,817 shares of the offshore drilling services provider's stock worth $528,000 after acquiring an additional 44,527 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its position in shares of Transocean by 4.0% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 379,955 shares of the offshore drilling services provider's stock worth $1,420,000 after acquiring an additional 14,628 shares in the last quarter. First Trust Advisors LP raised its position in shares of Transocean by 51.5% in the 4th quarter. First Trust Advisors LP now owns 930,851 shares of the offshore drilling services provider's stock worth $3,491,000 after acquiring an additional 316,362 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of Transocean by 309.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 50,478 shares of the offshore drilling services provider's stock worth $189,000 after acquiring an additional 38,158 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RIG. Barclays lifted their price objective on Transocean from $3.50 to $4.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 13th. Wall Street Zen upgraded Transocean from a "sell" rating to a "hold" rating in a research note on Sunday, August 10th. BTIG Research set a $5.00 target price on Transocean and gave the company a "buy" rating in a research note on Monday, May 5th. Finally, Morgan Stanley dropped their price objective on shares of Transocean from $4.00 to $3.50 and set an "equal weight" rating on the stock in a research note on Friday, May 16th. Four analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Transocean has an average rating of "Hold" and an average price target of $4.26.

Transocean Stock Down 1.9%

RIG stock traded down $0.06 during mid-day trading on Friday, reaching $3.04. 24,464,050 shares of the company traded hands, compared to its average volume of 22,140,236. The stock has a market cap of $2.87 billion, a price-to-earnings ratio of -1.63, a P/E/G ratio of 6.48 and a beta of 2.79. The company has a quick ratio of 0.99, a current ratio of 1.26 and a debt-to-equity ratio of 0.63. Transocean Ltd. has a fifty-two week low of $1.97 and a fifty-two week high of $4.87. The firm's 50 day moving average price is $2.87 and its 200 day moving average price is $2.80.

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.