Hsbc Holdings PLC Sells 150,226 Shares of Transocean Ltd. (NYSE:RIG)

Hsbc Holdings PLC decreased its holdings in Transocean Ltd. (NYSE:RIG) by 63.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 84,917 shares of the offshore drilling services provider’s stock after selling 150,226 shares during the period. Hsbc Holdings PLC’s holdings in Transocean were worth $321,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. OneDigital Investment Advisors LLC bought a new position in Transocean during the 4th quarter worth approximately $51,000. Tower Research Capital LLC TRC raised its stake in Transocean by 309.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 50,478 shares of the offshore drilling services provider’s stock worth $189,000 after buying an additional 38,158 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Transocean by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 40,008,596 shares of the offshore drilling services provider’s stock valued at $150,029,000 after buying an additional 809,864 shares during the period. First Trust Advisors LP boosted its position in Transocean by 51.5% during the fourth quarter. First Trust Advisors LP now owns 930,851 shares of the offshore drilling services provider’s stock valued at $3,491,000 after acquiring an additional 316,362 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its holdings in Transocean by 4.0% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 379,955 shares of the offshore drilling services provider’s stock worth $1,420,000 after acquiring an additional 14,628 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Transocean Price Performance

Shares of NYSE RIG opened at $2.62 on Friday. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of -3.59, a PEG ratio of 0.86 and a beta of 2.52. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.34 and a current ratio of 1.47. Transocean Ltd. has a fifty-two week low of $1.97 and a fifty-two week high of $6.38. The firm’s 50-day simple moving average is $2.63 and its 200 day simple moving average is $3.47.

Transocean (NYSE:RIG) last announced its 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 company had revenue of $906.00 million for the quarter, compared to analysts’ expectations of $884.92 million. Transocean had a negative return on equity of 0.52% and a negative net margin of 14.53%. Transocean’s quarterly revenue was up 18.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.03) earnings per share. As a group, research analysts anticipate that Transocean Ltd. will post 0.14 earnings per share for the current fiscal year.

Insider Transactions at Transocean

In other news, EVP Roderick James Mackenzie sold 22,000 shares of the company’s stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $2.23, for a total value of $49,060.00. Following the completion of the transaction, the executive vice president now directly owns 362,841 shares of the company’s stock, valued at $809,135.43. This represents a 5.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 12.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. SEB Equity Research set a $2.80 target price on Transocean in a research report on Wednesday, March 5th. Evercore ISI cut Transocean from an “outperform” rating to an “in-line” rating and cut their price target for the stock from $6.00 to $5.00 in a report on Wednesday, January 15th. Susquehanna reduced their price objective on shares of Transocean from $5.00 to $4.00 and set a “positive” rating for the company in a research report on Monday, April 14th. BTIG Research set a $5.00 target price on shares of Transocean and gave the company a “buy” rating in a research report on Monday. Finally, Barclays reduced their price target on shares of Transocean from $4.00 to $3.50 and set an “overweight” rating for the company in a report on Monday, April 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $4.63.

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.