Transocean Ltd. $RIG Shares Sold by Russell Investments Group Ltd.

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. trimmed its holdings in shares of Transocean Ltd. (NYSE:RIG - Free Report) by 24.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 about 0.08% of Transocean worth $2,285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RIG. Raymond James Financial Inc. bought a new position in Transocean during the 4th quarter worth about $893,000. Mariner LLC grew its holdings in Transocean by 46.2% during 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 grew its holdings in Transocean by 4.0% during 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 grew its holdings in Transocean by 51.5% during 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 grew its holdings in Transocean by 309.7% during 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 currently owned by institutional investors.

Transocean Stock Performance

Shares of NYSE:RIG traded down $0.09 during trading on Thursday, hitting $3.09. 24,232,910 shares of the stock traded hands, compared to its average volume of 22,334,648. 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 company has a market cap of $2.91 billion, a price-to-earnings ratio of -1.66, a P/E/G ratio of 6.78 and a beta of 2.52. The company has a fifty day moving average price of $2.86 and a two-hundred day moving average price of $2.82. Transocean Ltd. has a 52-week low of $1.97 and a 52-week high of $4.87.

Wall Street Analyst Weigh In

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

Transocean 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.