SG Americas Securities LLC lifted its holdings in Transocean Ltd. (NYSE:RIG - Free Report) by 3,039.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 930,599 shares of the offshore drilling services provider's stock after purchasing an additional 900,958 shares during the quarter. SG Americas Securities LLC owned 0.11% of Transocean worth $2,950,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Twin Tree Management LP bought a new stake in Transocean during the fourth quarter worth $27,000. Optiver Holding B.V. raised its position in 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 worth $32,000 after acquiring an additional 2,933 shares in the last quarter. Parallel Advisors LLC raised its position in Transocean by 154.8% during the first quarter. Parallel Advisors LLC now owns 8,810 shares of the offshore drilling services provider's stock worth $28,000 after acquiring an additional 5,353 shares in the last quarter. Stratos Wealth Partners LTD. bought a new stake in Transocean during the fourth quarter worth $40,000. Finally, Guardian Wealth Advisors LLC NC bought a new stake in Transocean during the fourth quarter worth $40,000. Institutional investors own 67.73% of the company's stock.
Transocean Price Performance
Transocean stock traded up $0.11 during trading hours on Friday, reaching $3.32. 66,489,692 shares of the stock were exchanged, compared to its average volume of 28,036,419. The company has a market cap of $2.93 billion, a P/E ratio of -4.54, a price-to-earnings-growth ratio of 0.86 and a beta of 2.54. The company has a current ratio of 1.47, a quick ratio of 1.34 and a debt-to-equity ratio of 0.60. Transocean Ltd. has a twelve month low of $1.97 and a twelve month high of $5.98. The stock has a 50 day moving average of $2.50 and a two-hundred day moving average of $3.19.
Transocean (NYSE:RIG - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The offshore drilling services provider reported ($0.10) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.12) by $0.02. The firm had revenue of $906.00 million for the quarter, compared to the consensus estimate of $884.92 million. Transocean had a negative net margin of 14.53% and a negative return on equity of 0.52%. The business's revenue for the quarter was up 18.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.03) earnings per share. Equities analysts expect that Transocean Ltd. will post 0.14 EPS for the current fiscal year.
Insider Transactions at Transocean
In related news, EVP Roderick James Mackenzie sold 22,000 shares of the firm's stock in a transaction that occurred on 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 now owns 340,841 shares in the company, valued at $947,537.98. This trade represents a 6.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 12.27% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on RIG. BTIG Research set a $5.00 price target on shares of Transocean and gave the stock a "buy" rating in a research report on Monday, May 5th. 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 report on Friday, May 16th. SEB Equity Research set a $2.80 price objective on shares of Transocean in a research report on Wednesday, March 5th. Citigroup dropped their price objective on shares of Transocean from $4.50 to $3.50 and set a "neutral" rating on the stock in a research report on Wednesday, March 19th. Finally, Susquehanna dropped their price objective on shares of Transocean from $5.00 to $4.00 and set a "positive" rating on the stock in a research report on Monday, April 14th. One research 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's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $4.58.
View Our Latest Analysis on Transocean
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.
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