Kettle Hill Capital Management LLC boosted its holdings in shares of Transocean Ltd. (NYSE:RIG - Free Report) by 85.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,812,608 shares of the offshore drilling services provider's stock after acquiring an additional 2,221,186 shares during the period. Transocean makes up approximately 3.9% of Kettle Hill Capital Management LLC's investment portfolio, making the stock its 9th largest holding. Kettle Hill Capital Management LLC owned 0.55% of Transocean worth $18,047,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Twin Tree Management LP acquired a new position in shares of Transocean during the 4th quarter worth $27,000. Optiver Holding B.V. raised its stake in Transocean by 53.6% during the 4th quarter. Optiver Holding B.V. now owns 8,400 shares of the offshore drilling services provider's stock worth $32,000 after buying an additional 2,933 shares during the period. Blue Trust Inc. raised its stake in Transocean by 96.2% during the 4th quarter. Blue Trust Inc. now owns 9,841 shares of the offshore drilling services provider's stock worth $37,000 after buying an additional 4,826 shares during the period. Adero Partners LLC acquired a new position in Transocean during the 4th quarter worth approximately $38,000. Finally, Stratos Wealth Partners LTD. purchased a new stake in shares of Transocean in the fourth quarter worth approximately $40,000. Institutional investors and hedge funds own 67.73% of the company's stock.
Transocean Stock Performance
NYSE:RIG traded up $0.06 during trading hours on Wednesday, reaching $2.79. The company had a trading volume of 40,489,823 shares, compared to its average volume of 25,649,459. Transocean Ltd. has a 1-year low of $1.97 and a 1-year high of $6.38. The firm has a market cap of $2.46 billion, a PE ratio of -3.82, a price-to-earnings-growth ratio of 0.86 and a beta of 2.52. The business's 50 day moving average price is $2.62 and its 200-day moving average price is $3.44. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.47 and a quick ratio of 1.34.
Transocean (NYSE:RIG - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The offshore drilling services provider reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.02. The firm had revenue of $906.00 million during the quarter, compared to the consensus estimate of $884.92 million. Transocean had a negative return on equity of 0.52% and a negative net margin of 14.53%. The firm's revenue was up 18.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.03) EPS. Research analysts forecast that Transocean Ltd. will post 0.14 EPS for the current year.
Insider Transactions at Transocean
In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of Transocean stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $2.78, for a total value of $61,160.00. Following the transaction, the executive vice president now directly owns 340,841 shares in the company, valued at approximately $947,537.98. This trade represents a 6.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 12.27% of the company's stock.
Analyst Ratings Changes
Several brokerages have weighed in on RIG. SEB Equity Research set a $2.80 price objective on Transocean in a report on Wednesday, March 5th. Citigroup dropped their price target on Transocean from $4.50 to $3.50 and set a "neutral" rating for the company in a research note on Wednesday, March 19th. Evercore ISI lowered Transocean from an "outperform" rating to an "in-line" rating and lowered their target price for the company from $6.00 to $5.00 in a research note on Wednesday, January 15th. Susquehanna lowered their target price on Transocean from $5.00 to $4.00 and set a "positive" rating for the company in a research note on Monday, April 14th. Finally, BTIG Research set a $5.00 price target on Transocean and gave the company a "buy" rating in a research report on Monday, May 5th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Transocean presently has a consensus rating of "Hold" and an average target price of $4.63.
Get Our Latest Analysis on Transocean
About Transocean
(
Free Report)
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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