Northern Trust Corp Has $28.02 Million Position in Transocean Ltd. (NYSE:RIG)

Northern Trust Corp boosted its holdings in Transocean Ltd. (NYSE:RIG - Free Report) by 7.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,470,701 shares of the offshore drilling services provider's stock after purchasing an additional 520,053 shares during the quarter. Northern Trust Corp owned approximately 0.85% of Transocean worth $28,015,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Twin Tree Management LP acquired a new position in shares of Transocean in the 4th quarter valued at about $27,000. Optiver Holding B.V. boosted its stake in Transocean by 53.6% in the fourth quarter. Optiver Holding B.V. now owns 8,400 shares of the offshore drilling services provider's stock valued at $32,000 after acquiring an additional 2,933 shares during the period. Blue Trust Inc. grew its holdings in shares of Transocean by 96.2% during the fourth quarter. Blue Trust Inc. now owns 9,841 shares of the offshore drilling services provider's stock valued at $37,000 after purchasing an additional 4,826 shares during the last quarter. Adero Partners LLC acquired a new stake in shares of Transocean during the 4th quarter worth approximately $38,000. Finally, Stratos Wealth Partners LTD. bought a new stake in shares of Transocean in the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Insider Buying and Selling

In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $2.78, for a total value of $61,160.00. Following the completion of the sale, the executive vice president now owns 340,841 shares of the company's stock, valued at $947,537.98. The trade was a 6.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.27% of the stock is currently owned by corporate insiders.

Transocean Stock Down 1.3%

Shares of Transocean stock traded down $0.04 on Friday, hitting $2.63. 11,842,448 shares of the company traded hands, compared to its average volume of 36,528,879. Transocean Ltd. has a 12-month low of $1.97 and a 12-month high of $6.38. 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 has a market cap of $2.32 billion, a PE ratio of -3.58, a PEG ratio of 0.86 and a beta of 2.52. The company has a 50-day moving average price of $2.61 and a 200 day moving average price of $3.43.

Transocean (NYSE:RIG - Get Free Report) last issued its earnings results on Monday, April 28th. The offshore drilling services provider reported ($0.10) EPS for the quarter, beating 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 firm had revenue of $906.00 million for the quarter, compared to the consensus estimate of $884.92 million. During the same quarter in the previous year, the company posted ($0.03) earnings per share. The business's quarterly revenue was up 18.7% compared to the same quarter last year. Sell-side analysts predict that Transocean Ltd. will post 0.14 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Susquehanna dropped their target price on Transocean from $5.00 to $4.00 and set a "positive" rating on the stock in a research report on Monday, April 14th. Barclays dropped their price objective on shares of Transocean from $4.00 to $3.50 and set an "overweight" rating on the stock in a report on Monday, April 7th. Citigroup reduced their target price 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. Morgan Stanley dropped their price target on shares of Transocean from $5.00 to $4.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 27th. Finally, SEB Equity Research set a $2.80 price objective on Transocean in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $4.63.

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.