Transocean Ltd. (NYSE:RIG) Stock Holdings Lifted by Ion Asset Management Ltd.

Ion Asset Management Ltd. lifted its holdings in shares of Transocean Ltd. (NYSE:RIG - Free Report) by 5.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,000,000 shares of the offshore drilling services provider's stock after buying an additional 199,650 shares during the period. Transocean makes up approximately 0.9% of Ion Asset Management Ltd.'s holdings, making the stock its 15th largest position. Ion Asset Management Ltd. owned approximately 0.46% of Transocean worth $15,000,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RIG. Charles Schwab Investment Management Inc. boosted its holdings in Transocean by 7.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,465,534 shares of the offshore drilling services provider's stock valued at $46,746,000 after purchasing an additional 859,214 shares in the last quarter. Hosking Partners LLP boosted its stake in shares of Transocean by 23.5% during the fourth quarter. Hosking Partners LLP now owns 1,706,143 shares of the offshore drilling services provider's stock valued at $6,398,000 after acquiring an additional 324,955 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Transocean by 33.9% during the fourth quarter. Van ECK Associates Corp now owns 15,393,873 shares of the offshore drilling services provider's stock worth $57,727,000 after buying an additional 3,895,880 shares in the last quarter. State of New Jersey Common Pension Fund D grew its stake in Transocean by 25.2% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 499,801 shares of the offshore drilling services provider's stock worth $1,874,000 after acquiring an additional 100,691 shares during the period. Finally, Prudential Financial Inc. increased its stake in Transocean by 899.8% in the fourth quarter. Prudential Financial Inc. now owns 495,675 shares of the offshore drilling services provider's stock valued at $1,859,000 after purchasing an additional 446,100 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Transocean Stock Performance

NYSE RIG traded up $0.03 on Friday, hitting $2.37. The stock had a trading volume of 33,054,555 shares, compared to its average volume of 24,775,892. The company has a quick ratio of 1.34, a current ratio of 1.47 and a debt-to-equity ratio of 0.60. The company's 50-day moving average is $2.69 and its two-hundred day moving average is $3.54. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of -3.25, a P/E/G ratio of 0.86 and a beta of 2.52. Transocean Ltd. has a one year low of $1.97 and a one year high of $6.38.

Transocean (NYSE:RIG - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The offshore drilling services provider reported ($0.10) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.12) by $0.02. Transocean had a negative return on equity of 0.52% and a negative net margin of 14.53%. The company had revenue of $906.00 million during the quarter, compared to analyst estimates of $884.92 million. During the same quarter in the previous year, the firm posted ($0.03) EPS. The firm's quarterly 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 Activity at Transocean

In other news, EVP Roderick James Mackenzie sold 22,000 shares of the business's 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 sale, the executive vice president now owns 362,841 shares of the company's stock, valued at approximately $809,135.43. The trade was a 5.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 12.27% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RIG. Citigroup reduced their target price on Transocean from $4.50 to $3.50 and set a "neutral" rating on the stock in a report on Wednesday, March 19th. SEB Equity Research set a $2.80 price target on shares of Transocean in a report on Wednesday, March 5th. Susquehanna reduced their price target on Transocean from $5.00 to $4.00 and set a "positive" rating for the company in a report on Monday, April 14th. Barclays decreased their price objective 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. Finally, Morgan Stanley reduced their price objective on Transocean from $5.00 to $4.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 27th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $4.59.

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.