Deutsche Bank AG Boosts Stock Position in Transocean Ltd. (NYSE:RIG)

Deutsche Bank AG raised its holdings in Transocean Ltd. (NYSE:RIG) by 51.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 634,803 shares of the offshore drilling services provider’s stock after buying an additional 215,729 shares during the period. Deutsche Bank AG’s holdings in Transocean were worth $2,381,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Barclays PLC raised its position in shares of Transocean by 60.1% during the 3rd quarter. Barclays PLC now owns 1,623,924 shares of the offshore drilling services provider’s stock worth $6,902,000 after acquiring an additional 609,681 shares in the last quarter. Ballentine Partners LLC increased its stake in Transocean by 19.4% in the fourth quarter. Ballentine Partners LLC now owns 18,247 shares of the offshore drilling services provider’s stock valued at $68,000 after purchasing an additional 2,963 shares during the last quarter. PFG Investments LLC increased its stake in Transocean by 6.0% in the fourth quarter. PFG Investments LLC now owns 195,087 shares of the offshore drilling services provider’s stock valued at $732,000 after purchasing an additional 11,000 shares during the last quarter. Blue Trust Inc. raised its holdings in Transocean by 96.2% during the fourth quarter. Blue Trust Inc. now owns 9,841 shares of the offshore drilling services provider’s stock worth $37,000 after purchasing an additional 4,826 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of Transocean by 31.6% during the 4th quarter. KBC Group NV now owns 31,295 shares of the offshore drilling services provider’s stock worth $117,000 after buying an additional 7,510 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Transocean Trading Down 2.4%

NYSE:RIG opened at $2.40 on Friday. The firm has a market cap of $2.12 billion, a P/E ratio of -3.29, a PEG ratio of 0.86 and a beta of 2.52. The company has a current ratio of 1.47, a quick ratio of 1.34 and a debt-to-equity ratio of 0.60. The stock’s 50 day simple moving average is $2.57 and its 200-day simple moving average is $3.38. Transocean Ltd. has a 12-month low of $1.97 and a 12-month high of $6.25.

Transocean (NYSE:RIG) last announced its quarterly earnings data 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. Transocean had a negative net margin of 14.53% and a negative return on equity of 0.52%. The company had revenue of $906.00 million for the quarter, compared to analysts’ expectations of $884.92 million. During the same period in the previous year, the company posted ($0.03) EPS. Transocean’s revenue was up 18.7% compared to the same quarter last year. Equities analysts anticipate that Transocean Ltd. will post 0.14 EPS for the current year.

Analyst Upgrades and Downgrades

RIG has been the topic of a number of recent analyst reports. Citigroup dropped their target price 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. Morgan Stanley dropped their price objective on Transocean from $4.00 to $3.50 and set an “equal weight” rating on the stock in a report on Friday, May 16th. Susquehanna reduced their target price on Transocean from $5.00 to $4.00 and set a “positive” rating for the company in a report on Monday, April 14th. BTIG Research set a $5.00 target price on Transocean and gave the company a “buy” rating in a research report on Monday, May 5th. Finally, SEB Equity Research set a $2.80 price target on Transocean in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $4.58.

Insider Transactions at Transocean

In other news, EVP Roderick James Mackenzie sold 22,000 shares of the firm’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 sale, the executive vice president now directly owns 362,841 shares of the company’s stock, valued at $809,135.43. This trade represents a 5.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 12.27% of the company’s stock.

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.