SG Americas Securities LLC lifted its stake in shares of Transocean Ltd. (NYSE:RIG - Free Report) by 3,039.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. 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 hedge funds also recently modified their holdings of the company. American Century Companies Inc. grew its holdings in shares of Transocean by 51.5% during the 4th quarter. American Century Companies Inc. now owns 19,257,437 shares of the offshore drilling services provider's stock valued at $72,215,000 after purchasing an additional 6,542,271 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Transocean during the 4th quarter valued at about $16,608,000. SIR Capital Management L.P. bought a new stake in shares of Transocean in the 4th quarter valued at $14,976,000. Madison Investment Advisors LLC acquired a new position in shares of Transocean during the fourth quarter valued at about $11,156,000. Finally, Kettle Hill Capital Management LLC boosted its holdings in Transocean by 85.7% in the fourth quarter. Kettle Hill Capital Management LLC now owns 4,812,608 shares of the offshore drilling services provider's stock worth $18,047,000 after acquiring an additional 2,221,186 shares in the last quarter. Institutional investors own 67.73% of the company's stock.
Analyst Ratings Changes
Several brokerages have recently commented on RIG. Morgan Stanley lowered their price objective on Transocean from $4.00 to $3.50 and set an "equal weight" rating for the company in a research note on Friday, May 16th. Barclays decreased their price objective on Transocean from $4.00 to $3.50 and set an "overweight" rating for the company in a report on Monday, April 7th. Susquehanna lowered their target price on shares of Transocean from $5.00 to $4.00 and set a "positive" rating on the stock in a report on Monday, April 14th. BTIG Research set a $5.00 price target on shares of Transocean and gave the stock a "buy" rating in a report on Monday, May 5th. Finally, SEB Equity Research set a $2.80 price objective on Transocean in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Transocean has an average rating of "Hold" and a consensus target price of $4.58.
Get Our Latest Stock Analysis on Transocean
Insider Activity at Transocean
In other news, EVP Roderick James Mackenzie sold 22,000 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $2.78, for a total value of $61,160.00. Following the transaction, the executive vice president now owns 340,841 shares of the company's stock, valued at $947,537.98. This trade represents a 6.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.54% of the stock is owned by insiders.
Transocean Trading Down 3.0%
NYSE:RIG traded down $0.10 during mid-day trading on Wednesday, reaching $3.12. 41,882,311 shares of the company's stock traded hands, compared to its average volume of 28,299,996. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.33 and a quick ratio of 1.06. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of -3.29, a PEG ratio of 2.13 and a beta of 2.54. The company has a 50 day moving average price of $2.53 and a 200-day moving average price of $3.17. Transocean Ltd. has a 12-month low of $1.97 and a 12-month high of $5.98.
Transocean (NYSE:RIG - Get Free Report) last posted 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. Transocean had a negative return on equity of 0.94% and a negative net margin of 18.79%. The business had revenue of $906.00 million during the quarter, compared to the consensus estimate of $884.92 million. During the same quarter in the prior year, the company earned ($0.03) earnings per share. The firm's quarterly revenue was up 18.7% compared to the same quarter last year. On average, sell-side analysts predict that Transocean Ltd. will post 0.14 earnings per share 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.
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