Invesco Ltd. cut its position in Transocean Ltd. (NYSE:RIG - Free Report) by 21.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 853,809 shares of the offshore drilling services provider's stock after selling 237,725 shares during the period. Invesco Ltd. owned 0.10% of Transocean worth $3,202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC grew its stake in Transocean by 60.1% during the 3rd quarter. Barclays PLC now owns 1,623,924 shares of the offshore drilling services provider's stock valued at $6,902,000 after acquiring an additional 609,681 shares in the last quarter. Franklin Resources Inc. purchased a new stake in shares of Transocean in the third quarter valued at approximately $157,000. Harbor Capital Advisors Inc. lifted its position in Transocean by 28.0% during the fourth quarter. Harbor Capital Advisors Inc. now owns 42,803 shares of the offshore drilling services provider's stock worth $161,000 after buying an additional 9,361 shares in the last quarter. Pallas Capital Advisors LLC boosted its stake in Transocean by 25.6% during the fourth quarter. Pallas Capital Advisors LLC now owns 15,332 shares of the offshore drilling services provider's stock worth $57,000 after buying an additional 3,127 shares during the last quarter. Finally, FNY Investment Advisers LLC purchased a new stake in Transocean in the 4th quarter valued at $150,000. Hedge funds and other institutional investors own 67.73% of the company's stock.
Insider Buying and Selling at Transocean
In other news, EVP Roderick James Mackenzie sold 22,000 shares of Transocean stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $3.85, for a total value of $84,700.00. Following the completion of the transaction, the executive vice president now owns 313,072 shares in the company, valued at approximately $1,205,327.20. This trade represents a 6.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 12.27% of the stock is currently owned by corporate insiders.
Transocean Trading Up 0.2 %
Shares of RIG stock traded up $0.01 on Friday, hitting $2.35. The stock had a trading volume of 9,378,217 shares, compared to its average volume of 24,672,224. The company's 50 day moving average price is $2.69 and its 200-day moving average price is $3.54. Transocean Ltd. has a 1 year low of $1.97 and a 1 year high of $6.38. The firm has a market capitalization of $2.07 billion, a P/E ratio of -3.23, a P/E/G ratio of 0.86 and a beta of 2.52. 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 posted its quarterly earnings data on Monday, April 28th. The offshore drilling services provider reported ($0.10) 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 net margin of 14.53% and a negative return on equity of 0.52%. The business's revenue for the quarter was up 18.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.03) earnings per share. Analysts anticipate that Transocean Ltd. will post 0.14 earnings per share for the current year.
Analyst Ratings Changes
RIG has been the subject of a number of analyst reports. Morgan Stanley dropped their price objective on shares of Transocean from $5.00 to $4.00 and set an "equal weight" rating for the company in a report on Thursday, March 27th. TD Cowen cut their price target on shares of Transocean from $6.50 to $5.50 and set a "hold" rating for the company in a report on Wednesday, January 8th. SEB Equity Research set a $2.80 price objective on Transocean in a report on Wednesday, March 5th. Susquehanna cut their target price on Transocean from $5.00 to $4.00 and set a "positive" rating for the company in a research note on Monday, April 14th. Finally, Citigroup decreased their price target on Transocean from $4.50 to $3.50 and set a "neutral" rating on the stock in a research note on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $4.59.
View Our Latest Report on RIG
Transocean Profile
(
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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