Wellington Management Group LLP Lowers Stock Position in Transocean Ltd. (NYSE:RIG)

Wellington Management Group LLP lowered its position in shares of Transocean Ltd. (NYSE:RIG) by 72.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 382,247 shares of the offshore drilling services provider’s stock after selling 997,770 shares during the quarter. Wellington Management Group LLP’s holdings in Transocean were worth $3,138,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Transocean by 9.4% during the third quarter. Vanguard Group Inc. now owns 60,315,980 shares of the offshore drilling services provider’s stock valued at $148,981,000 after buying an additional 5,165,717 shares during the period. BlackRock Inc. increased its holdings in shares of Transocean by 64.4% during 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 acquiring an additional 10,962,276 shares in the last quarter. Morgan Stanley increased its holdings in shares of Transocean by 60.7% during the fourth quarter. Morgan Stanley now owns 18,330,357 shares of the offshore drilling services provider’s stock valued at $83,586,000 after acquiring an additional 6,925,085 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Transocean by 4.3% during the first quarter. Dimensional Fund Advisors LP now owns 12,924,313 shares of the offshore drilling services provider’s stock valued at $59,071,000 after acquiring an additional 535,577 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Transocean by 95.2% during the first quarter. Renaissance Technologies LLC now owns 11,892,498 shares of the offshore drilling services provider’s stock valued at $75,637,000 after acquiring an additional 5,800,435 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on RIG. Barclays reduced their price target on Transocean from $7.00 to $6.00 and set an “equal weight” rating for the company in a report on Thursday, February 22nd. StockNews.com upgraded Transocean to a “sell” rating in a report on Tuesday, February 20th. Susquehanna reduced their price objective on Transocean from $6.50 to $5.50 and set a “neutral” rating for the company in a report on Wednesday, February 21st. Citigroup reduced their price objective on Transocean from $9.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday, February 21st. Finally, Morgan Stanley reduced their price objective on Transocean from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Transocean currently has an average rating of “Hold” and an average target price of $8.06.

Transocean Stock Up 2.3 %

RIG opened at $6.26 on Thursday. Transocean Ltd. has a 1-year low of $4.45 and a 1-year high of $8.88. The firm’s 50 day simple moving average is $5.35 and its two-hundred day simple moving average is $6.31. The company has a current ratio of 1.52, a quick ratio of 1.22 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $5.06 billion, a PE ratio of -4.93 and a beta of 2.75.

Transocean (NYSE:RIG) last released its earnings results on Monday, February 19th. The offshore drilling services provider reported ($0.09) earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $741.00 million for the quarter, compared to the consensus estimate of $779.17 million. During the same period in the previous year, the business earned ($0.49) earnings per share. As a group, equities analysts forecast that Transocean Ltd. will post 0.09 EPS for the current year.

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.