Kettle Hill Capital Management LLC Increases Stake in Transocean Ltd. (NYSE:RIG)

Kettle Hill Capital Management LLC increased its stake in shares of Transocean Ltd. (NYSE:RIG - Free Report) by 85.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,812,608 shares of the offshore drilling services provider's stock after purchasing an additional 2,221,186 shares during the quarter. Transocean makes up approximately 3.9% of Kettle Hill Capital Management LLC's portfolio, making the stock its 9th largest position. Kettle Hill Capital Management LLC owned about 0.55% of Transocean worth $18,047,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Guardian Wealth Advisors LLC NC bought a new position in Transocean during the fourth quarter valued at approximately $40,000. Glenorchy Capital Ltd raised its position in Transocean by 6.3% during the fourth quarter. Glenorchy Capital Ltd now owns 623,216 shares of the offshore drilling services provider's stock valued at $2,337,000 after acquiring an additional 36,997 shares in the last quarter. Gotham Asset Management LLC bought a new position in Transocean during the fourth quarter valued at approximately $698,000. Ensign Peak Advisors Inc raised its position in Transocean by 17.4% during the fourth quarter. Ensign Peak Advisors Inc now owns 7,152,461 shares of the offshore drilling services provider's stock valued at $26,822,000 after acquiring an additional 1,059,893 shares in the last quarter. Finally, Deutsche Bank AG raised its position in Transocean by 51.5% during the fourth quarter. Deutsche Bank AG now owns 634,803 shares of the offshore drilling services provider's stock valued at $2,381,000 after acquiring an additional 215,729 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RIG has been the topic of several recent research reports. Citigroup cut their price objective on shares of 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 price target on shares of Transocean in a research report on Wednesday, March 5th. Morgan Stanley dropped their price target on shares of Transocean from $4.00 to $3.50 and set an "equal weight" rating on the stock in a research report on Friday. Susquehanna dropped their price target on shares of Transocean from $5.00 to $4.00 and set a "positive" rating on the stock in a research report on Monday, April 14th. Finally, BTIG Research set a $5.00 price target on shares of Transocean and gave the company a "buy" rating in a research report on Monday, May 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $4.58.

Transocean Stock Performance

RIG traded down $0.05 during trading on Friday, reaching $2.62. 34,373,639 shares of the company's stock were exchanged, compared to its average volume of 25,784,585. Transocean Ltd. has a fifty-two week low of $1.97 and a fifty-two week 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 business has a 50 day moving average price of $2.61 and a 200 day moving average price of $3.43. The company has a market capitalization of $2.31 billion, a P/E ratio of -3.58, a PEG ratio of 0.86 and a beta of 2.52.

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

Insider Buying and Selling

In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of the company's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $2.78, for a total transaction of $61,160.00. Following the completion of the sale, the executive vice president now owns 340,841 shares in the company, valued at approximately $947,537.98. The trade was a 6.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 12.27% of the stock is owned by corporate insiders.

Transocean 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.