Keybank National Association OH Raises Holdings in Transocean Ltd. (NYSE:RIG)

Keybank National Association OH boosted its holdings in Transocean Ltd. (NYSE:RIG - Free Report) by 14.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,480,351 shares of the offshore drilling services provider's stock after buying an additional 1,672,958 shares during the quarter. Keybank National Association OH owned 1.53% of Transocean worth $42,733,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Twin Tree Management LP purchased a new stake in Transocean during the 4th quarter valued at $27,000. Parallel Advisors LLC boosted its position in Transocean by 154.8% in the first quarter. Parallel Advisors LLC now owns 8,810 shares of the offshore drilling services provider's stock worth $28,000 after purchasing an additional 5,353 shares during the last quarter. Optiver Holding B.V. grew its stake in shares of Transocean by 53.6% during 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. Townsend & Associates Inc purchased a new stake in shares of Transocean during the 1st quarter valued at about $32,000. Finally, Integrity Wealth Solutions LLC bought a new position in shares of Transocean in the 1st quarter worth approximately $39,000. 67.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RIG has been the subject of a number of research reports. Barclays reduced their target price on shares of Transocean from $4.00 to $3.50 and set an "overweight" rating for the company in a report on Monday, April 7th. Morgan Stanley reduced 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. Citigroup cut their price target on Transocean from $4.50 to $3.50 and set a "neutral" rating for the company in a report on Wednesday, March 19th. BTIG Research set a $5.00 price target on Transocean and gave the stock a "buy" rating in a research report on Monday, May 5th. Finally, Susquehanna lowered their price objective on Transocean from $5.00 to $4.00 and set a "positive" rating on the stock in a research report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $4.58.

Insider Buying and Selling

In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $2.78, for a total value of $61,160.00. Following the sale, the executive vice president owned 340,841 shares in the company, valued at $947,537.98. This trade represents a 6.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 12.27% of the company's stock.

Transocean Trading Down 2.0%

Shares of NYSE:RIG traded down $0.06 during trading on Thursday, reaching $2.75. The company's stock had a trading volume of 9,230,396 shares, compared to its average volume of 28,674,209. The stock has a market capitalization of $2.42 billion, a PE ratio of -2.88, a price-to-earnings-growth ratio of 1.75 and a beta of 2.50. Transocean Ltd. has a 12 month low of $1.97 and a 12 month high of $5.98. The company has a current ratio of 1.33, a quick ratio of 1.06 and a debt-to-equity ratio of 0.58. The firm's 50 day simple moving average is $2.66 and its two-hundred day simple moving average is $3.08.

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, beating the consensus estimate of ($0.12) by $0.02. The business had revenue of $906.00 million during the quarter, compared to analyst estimates of $884.92 million. Transocean had a negative return on equity of 0.94% and a negative net margin of 18.79%. The company's revenue for the quarter was up 18.7% on a year-over-year basis. During the same period last year, the company earned ($0.03) EPS. On average, research analysts predict that Transocean Ltd. will post 0.14 EPS for the current fiscal year.

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.