Vanguard Group Inc. Sells 239,061 Shares of Transocean Ltd. $RIG

Key Points

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Vanguard Group Inc. decreased its position in shares of Transocean Ltd. (NYSE:RIG - Free Report) by 0.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 78,572,802 shares of the offshore drilling services provider's stock after selling 239,061 shares during the period. Vanguard Group Inc. owned about 8.90% of Transocean worth $249,076,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wells Fargo & Company MN boosted its stake in Transocean by 5.0% during the 4th quarter. Wells Fargo & Company MN now owns 1,249,315 shares of the offshore drilling services provider's stock valued at $4,685,000 after purchasing an additional 59,609 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Transocean during the fourth quarter valued at about $893,000. Sterling Capital Management LLC grew its position in shares of Transocean by 818.5% during the fourth quarter. Sterling Capital Management LLC now owns 22,982 shares of the offshore drilling services provider's stock valued at $86,000 after purchasing an additional 20,480 shares in the last quarter. Townsquare Capital LLC purchased a new position in Transocean in the fourth quarter worth about $43,000. Finally, Mariner LLC grew its position in Transocean by 46.2% in the fourth 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. Hedge funds and other institutional investors own 67.73% of the company's stock.

Analyst Upgrades and Downgrades

RIG has been the subject of several recent analyst reports. Barclays set a $4.00 target price on Transocean and gave the company an "overweight" rating in a research report on Wednesday, August 13th. Morgan Stanley lowered their price target on Transocean from $4.00 to $3.50 and set an "equal weight" rating for the company in a report on Friday, May 16th. 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, Wall Street Zen upgraded Transocean from a "sell" rating to a "hold" rating in a report on Sunday, August 10th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Transocean presently has a consensus rating of "Hold" and a consensus target price of $4.26.

Transocean Price Performance

Shares of RIG opened at $2.95 on Tuesday. The business's 50-day moving average is $2.90 and its two-hundred day moving average is $2.85. The company has a market capitalization of $2.78 billion, a P/E ratio of -1.59, a P/E/G ratio of 6.31 and a beta of 2.52. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 1.26. Transocean Ltd. has a fifty-two week low of $1.97 and a fifty-two week high of $5.26.

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.

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