Mackenzie Financial Corp Has $6.25 Million Holdings in Transocean Ltd. (NYSE:RIG)

Mackenzie Financial Corp raised its position in shares of Transocean Ltd. (NYSE:RIG - Free Report) by 96.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 983,497 shares of the offshore drilling services provider's stock after acquiring an additional 482,537 shares during the quarter. Mackenzie Financial Corp owned approximately 0.12% of Transocean worth $6,245,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. LaFleur & Godfrey LLC increased its holdings in shares of Transocean by 13.3% in the third quarter. LaFleur & Godfrey LLC now owns 15,300 shares of the offshore drilling services provider's stock valued at $126,000 after purchasing an additional 1,800 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its stake in Transocean by 16.2% during the third quarter. B. Riley Wealth Advisors Inc. now owns 14,371 shares of the offshore drilling services provider's stock worth $118,000 after acquiring an additional 2,000 shares during the last quarter. 180 Wealth Advisors LLC increased its stake in Transocean by 7.4% during the fourth quarter. 180 Wealth Advisors LLC now owns 31,496 shares of the offshore drilling services provider's stock worth $197,000 after acquiring an additional 2,170 shares during the last quarter. IHT Wealth Management LLC increased its stake in Transocean by 13.7% during the fourth quarter. IHT Wealth Management LLC now owns 19,212 shares of the offshore drilling services provider's stock worth $88,000 after acquiring an additional 2,317 shares during the last quarter. Finally, Snowden Capital Advisors LLC increased its stake in Transocean by 6.4% during the first quarter. Snowden Capital Advisors LLC now owns 41,657 shares of the offshore drilling services provider's stock worth $265,000 after acquiring an additional 2,500 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Transocean Stock Up 2.2 %

Transocean stock traded up $0.12 during midday trading on Friday, reaching $5.67. The company's stock had a trading volume of 16,183,946 shares, compared to its average volume of 17,893,560. The business has a 50-day simple moving average of $5.64 and a 200-day simple moving average of $6.06. The company has a quick ratio of 1.22, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. Transocean Ltd. has a fifty-two week low of $4.45 and a fifty-two week high of $8.88. The company has a market cap of $4.65 billion, a P/E ratio of -4.46 and a beta of 2.78.

Transocean (NYSE:RIG - Get Free Report) last posted its earnings results on Monday, February 19th. The offshore drilling services provider reported ($0.09) EPS for the quarter, topping analysts' consensus estimates of ($0.21) by $0.12. Transocean had a negative return on equity of 7.13% and a negative net margin of 33.69%. The business had revenue of $741.00 million for the quarter, compared to analysts' expectations of $779.17 million. During the same quarter in the previous year, the firm earned ($0.49) earnings per share. On average, research analysts expect that Transocean Ltd. will post 0.02 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on RIG. StockNews.com raised Transocean to a "sell" rating in a research note on Tuesday, February 20th. Citigroup lowered their price target on Transocean from $9.00 to $7.00 and set a "buy" rating for the company in a research report on Wednesday, February 21st. Bank of America raised their price target on Transocean from $5.50 to $6.00 and gave the stock an "underperform" rating in a research report on Monday, April 15th. Susquehanna upgraded Transocean from a "neutral" rating to a "positive" rating and raised their price target for the stock from $5.50 to $9.00 in a research report on Monday, April 8th. Finally, Barclays lowered their price target on Transocean from $7.00 to $6.00 and set an "equal weight" rating for the company in a research report on Thursday, February 22nd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, Transocean has an average rating of "Hold" and an average target price of $8.22.

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.