Raymond James Financial Inc. Acquires Shares of 238,152 Transocean Ltd. (NYSE:RIG)

Raymond James Financial Inc. bought a new position in Transocean Ltd. (NYSE:RIG - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 238,152 shares of the offshore drilling services provider's stock, valued at approximately $893,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. American Century Companies Inc. raised its holdings in Transocean by 51.5% during the 4th quarter. American Century Companies Inc. now owns 19,257,437 shares of the offshore drilling services provider's stock valued at $72,215,000 after acquiring an additional 6,542,271 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Transocean during the 4th quarter valued at $16,608,000. Van ECK Associates Corp lifted its holdings in Transocean by 33.9% during the 4th quarter. Van ECK Associates Corp now owns 15,393,873 shares of the offshore drilling services provider's stock worth $57,727,000 after purchasing an additional 3,895,880 shares in the last quarter. Madison Investment Advisors LLC bought a new position in Transocean in the 4th quarter worth about $11,156,000. Finally, Vanguard Group Inc. grew its holdings in Transocean by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 78,811,863 shares of the offshore drilling services provider's stock valued at $295,544,000 after buying an additional 931,684 shares in the last quarter. Institutional investors own 67.73% of the company's stock.

Transocean Trading Down 2.7 %

Shares of RIG stock opened at $2.31 on Tuesday. 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 firm has a market cap of $2.04 billion, a P/E ratio of -3.16, a price-to-earnings-growth ratio of 0.86 and a beta of 2.52. The business has a 50-day moving average price of $2.66 and a two-hundred day moving average price of $3.51. Transocean Ltd. has a 12-month low of $1.97 and a 12-month high of $6.38.

Transocean (NYSE:RIG - Get Free Report) last issued its earnings results on Monday, April 28th. The offshore drilling services provider reported ($0.10) earnings per share (EPS) for the quarter, topping 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 return on equity of 0.52% and a negative net margin of 14.53%. Transocean's revenue for the quarter was up 18.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.03) earnings per share. Equities analysts anticipate that Transocean Ltd. will post 0.14 EPS for the current fiscal year.

Insider Activity

In related news, EVP Roderick James Mackenzie sold 22,000 shares of the stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $2.23, for a total transaction of $49,060.00. Following the completion of the sale, the executive vice president now directly owns 362,841 shares in the company, valued at $809,135.43. This represents a 5.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 12.27% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

RIG has been the subject of several recent analyst reports. Evercore ISI cut shares of Transocean from an "outperform" rating to an "in-line" rating and reduced their price objective for the company from $6.00 to $5.00 in a research note on Wednesday, January 15th. Morgan Stanley reduced their price target on shares of Transocean from $5.00 to $4.00 and set an "equal weight" rating for the company in a research report on Thursday, March 27th. Citigroup lowered their price objective on Transocean from $4.50 to $3.50 and set a "neutral" rating on the stock in a research report on Wednesday, March 19th. SEB Equity Research set a $2.80 target price on Transocean in a research report on Wednesday, March 5th. Finally, Susquehanna lowered their price target on Transocean from $5.00 to $4.00 and set a "positive" rating on the stock in a report on Monday, April 14th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, Transocean has a consensus rating of "Hold" and an average target price of $4.59.

About Transocean

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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