Voloridge Investment Management LLC lowered its holdings in Transocean Ltd. (NYSE:RIG - Free Report) by 98.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,228 shares of the offshore drilling services provider's stock after selling 1,177,568 shares during the quarter. Voloridge Investment Management LLC's holdings in Transocean were worth $50,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in RIG. Wexford Capital LP acquired a new stake in shares of Transocean during the 4th quarter valued at approximately $95,000. Two Sigma Advisers LP increased its stake in Transocean by 118.3% in the 4th quarter. Two Sigma Advisers LP now owns 1,577,454 shares of the offshore drilling services provider's stock valued at $5,915,000 after purchasing an additional 854,800 shares in the last quarter. State of Wyoming raised its holdings in Transocean by 33.1% during the fourth quarter. State of Wyoming now owns 53,770 shares of the offshore drilling services provider's stock worth $202,000 after purchasing an additional 13,370 shares during the last quarter. Sagefield Capital LP boosted its position in Transocean by 42.3% during the fourth quarter. Sagefield Capital LP now owns 1,710,176 shares of the offshore drilling services provider's stock worth $6,413,000 after purchasing an additional 507,988 shares in the last quarter. Finally, Sherbrooke Park Advisers LLC purchased a new position in shares of Transocean in the fourth quarter valued at $129,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research firms recently commented on RIG. Barclays decreased their price objective on shares of Transocean from $4.00 to $3.50 and set an "overweight" rating on the stock in a research report on Monday, April 7th. Citigroup dropped their price objective on shares of Transocean from $4.50 to $3.50 and set a "neutral" rating for the company in a research note on Wednesday, March 19th. Susquehanna cut their price objective on Transocean from $5.00 to $4.00 and set a "positive" rating for the company in a research report on Monday, April 14th. SEB Equity Research set a $2.80 target price on Transocean in a report on Wednesday, March 5th. Finally, 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. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Transocean currently has a consensus rating of "Hold" and an average target price of $4.58.
Get Our Latest Stock Report on Transocean
Transocean Trading Up 7.8%
RIG traded up $0.20 during trading on Tuesday, hitting $2.75. The company's stock had a trading volume of 53,473,157 shares, compared to its average volume of 26,763,328. Transocean Ltd. has a twelve month low of $1.97 and a twelve month high of $6.25. The stock has a market cap of $2.43 billion, a PE ratio of -3.77, a PEG ratio of 0.86 and a beta of 2.52. The firm's 50 day moving average price is $2.48 and its 200-day moving average price is $3.27. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.47 and a quick ratio of 1.34.
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 for the quarter, topping the consensus estimate of ($0.12) by $0.02. Transocean had a negative net margin of 14.53% and a negative return on equity of 0.52%. The business had revenue of $906.00 million for the quarter, compared to analyst estimates of $884.92 million. During the same period in the prior year, the firm posted ($0.03) EPS. The company's revenue was up 18.7% on a year-over-year basis. On average, analysts expect that Transocean Ltd. will post 0.14 earnings per share for the current year.
Insider Buying and Selling
In related news, EVP Roderick James Mackenzie sold 22,000 shares of Transocean stock in a transaction on Friday, April 11th. The stock was sold at an average price of $2.23, for a total value of $49,060.00. Following the transaction, the executive vice president now owns 362,841 shares in the company, valued at approximately $809,135.43. This trade represents a 5.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.27% of the stock is currently owned by company insiders.
About Transocean
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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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