Transocean Ltd. $RIG is Tejara Capital Ltd's 8th Largest Position

Key Points

• Tejara Capital Ltd reduced its stake in Transocean Ltd by 6.2%, selling 119,179 shares and holding approximately 1.79 million shares, which constitutes 2.2% of its total assets.
• Other hedge funds have also varied their positions in Transocean, with Parallel Advisors LLC increasing its holdings by 154.8% during the same quarter.
• Transocean Ltd's shares receive mixed ratings from analysts, with a consensus target price of $4.26 and several reports indicating a "Hold" rating.

Tejara Capital Ltd lessened its position in Transocean Ltd. (NYSE:RIG - Free Report) by 6.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,792,548 shares of the offshore drilling services provider's stock after selling 119,179 shares during the quarter. Transocean makes up about 2.2% of Tejara Capital Ltd's investment portfolio, making the stock its 8th largest holding. Tejara Capital Ltd owned about 0.20% of Transocean worth $5,682,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Optiver Holding B.V. lifted its stake in shares of Transocean by 53.6% in 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 purchasing an additional 2,933 shares during the period. Parallel Advisors LLC lifted its stake in shares of Transocean by 154.8% in the 1st quarter. Parallel Advisors LLC now owns 8,810 shares of the offshore drilling services provider's stock valued at $28,000 after purchasing an additional 5,353 shares during the period. Townsend & Associates Inc purchased a new position in shares of Transocean in the 1st quarter valued at approximately $32,000. Costello Asset Management INC purchased a new position in Transocean during the first quarter valued at $32,000. Finally, Guardian Wealth Advisors LLC NC purchased a new position in Transocean during the fourth quarter valued at $40,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Transocean Stock Performance

Shares of RIG traded down $0.1150 during trading hours on Tuesday, hitting $2.8350. The stock had a trading volume of 13,728,982 shares, compared to its average volume of 36,131,332. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.26 and a quick ratio of 0.99. Transocean Ltd. has a 12 month low of $1.97 and a 12 month high of $5.20. The firm has a market capitalization of $2.67 billion, a PE ratio of -1.52, a PEG ratio of 6.31 and a beta of 2.52. The stock has a fifty day moving average price of $2.90 and a 200 day moving average price of $2.85.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on RIG shares. 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. Wall Street Zen raised Transocean from a "sell" rating to a "hold" rating in a report on Sunday, August 10th. BTIG Research set a $5.00 target price on Transocean and gave the stock a "buy" rating in a report on Monday, May 5th. Finally, Barclays lifted their target price on Transocean from $3.50 to $4.00 and gave the stock an "overweight" rating in a report on Wednesday, August 13th. Four analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $4.26.

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.