Wellington Management Group LLP Has $3.14 Million Stake in Transocean Ltd. (NYSE:RIG)

Wellington Management Group LLP decreased its stake in shares of Transocean Ltd. (NYSE:RIG - Free Report) by 72.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 382,247 shares of the offshore drilling services provider's stock after selling 997,770 shares during the period. Wellington Management Group LLP's holdings in Transocean were worth $3,138,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of RIG. BlackRock Inc. increased its stake in shares of Transocean by 64.4% in the first quarter. BlackRock Inc. now owns 27,992,307 shares of the offshore drilling services provider's stock valued at $178,031,000 after purchasing an additional 10,962,276 shares during the period. Renaissance Technologies LLC raised its holdings in Transocean by 5,526.9% during the first quarter. Renaissance Technologies LLC now owns 7,872,028 shares of the offshore drilling services provider's stock worth $35,975,000 after purchasing an additional 7,732,128 shares in the last quarter. Morgan Stanley raised its holdings in Transocean by 60.7% during the fourth quarter. Morgan Stanley now owns 18,330,357 shares of the offshore drilling services provider's stock worth $83,586,000 after purchasing an additional 6,925,085 shares in the last quarter. Vanguard Group Inc. grew its position in Transocean by 9.4% in the third quarter. Vanguard Group Inc. now owns 60,315,980 shares of the offshore drilling services provider's stock worth $148,981,000 after buying an additional 5,165,717 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Transocean by 117.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 8,940,965 shares of the offshore drilling services provider's stock worth $40,861,000 after buying an additional 4,838,046 shares during the last quarter. Institutional investors own 67.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on RIG. Citigroup decreased their price target on shares of Transocean from $9.00 to $7.00 and set a "buy" rating on the stock in a research report on Wednesday, February 21st. StockNews.com raised shares of Transocean to a "sell" rating in a research note on Tuesday, February 20th. Morgan Stanley decreased their target price on shares of Transocean from $8.00 to $7.00 and set an "equal weight" rating for the company in a research note on Monday, February 26th. Susquehanna decreased their target price on shares of Transocean from $6.50 to $5.50 and set a "neutral" rating for the company in a research note on Wednesday, February 21st. Finally, Barclays reduced their price objective on shares of Transocean from $7.00 to $6.00 and set an "equal weight" rating for the company in a research note on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Transocean presently has a consensus rating of "Hold" and an average price target of $8.06.

Transocean Stock Performance

Transocean stock traded up $0.02 on Thursday, reaching $6.27. 16,672,655 shares of the stock were exchanged, compared to its average volume of 17,371,693. The stock has a market cap of $5.07 billion, a PE ratio of -4.96 and a beta of 2.75. The company has a current ratio of 1.52, a quick ratio of 1.22 and a debt-to-equity ratio of 0.68. Transocean Ltd. has a twelve month low of $4.45 and a twelve month high of $8.88. The firm has a fifty day moving average price of $5.35 and a two-hundred day moving average price of $6.31.

Transocean (NYSE:RIG - Get Free Report) last released its earnings results on Monday, February 19th. The offshore drilling services provider reported ($0.09) earnings per share for the quarter, topping analysts' consensus estimates of ($0.21) by $0.12. The firm had revenue of $741.00 million during the quarter, compared to analyst estimates of $779.17 million. Transocean had a negative net margin of 33.69% and a negative return on equity of 7.13%. During the same quarter in the previous year, the business earned ($0.49) EPS. Sell-side analysts anticipate that Transocean Ltd. will post 0.09 EPS for the current year.

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.