Transocean Ltd. (NYSE:RIG) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers boosted its stake in Transocean Ltd. (NYSE:RIG) by 1.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,116,326 shares of the offshore drilling services provider’s stock after purchasing an additional 13,698 shares during the period. Rhumbline Advisers’ holdings in Transocean were worth $4,186,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. International Assets Investment Management LLC lifted its stake in Transocean by 335.3% in the 3rd quarter. International Assets Investment Management LLC now owns 196,699 shares of the offshore drilling services provider’s stock valued at $836,000 after buying an additional 151,507 shares in the last quarter. Murphy Pohlad Asset Management LLC increased its position in shares of Transocean by 8.4% during the third quarter. Murphy Pohlad Asset Management LLC now owns 106,950 shares of the offshore drilling services provider’s stock worth $455,000 after acquiring an additional 8,300 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in shares of Transocean by 19.0% during the third quarter. Harbor Capital Advisors Inc. now owns 33,442 shares of the offshore drilling services provider’s stock worth $142,000 after acquiring an additional 5,344 shares during the last quarter. Atria Investments Inc acquired a new position in Transocean in the third quarter worth about $51,000. Finally, Kailix Advisors LLC grew its stake in Transocean by 59.9% in the third quarter. Kailix Advisors LLC now owns 6,620,451 shares of the offshore drilling services provider’s stock worth $28,137,000 after purchasing an additional 2,481,059 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Transocean Stock Performance

NYSE RIG opened at $2.96 on Friday. The stock has a market cap of $2.60 billion, a P/E ratio of -4.05, a PEG ratio of 0.86 and a beta of 2.70. The company’s 50-day simple moving average is $3.74 and its 200 day simple moving average is $4.14. Transocean Ltd. has a twelve month low of $2.95 and a twelve month high of $6.88. The company has a quick ratio of 1.34, a current ratio of 1.47 and a debt-to-equity ratio of 0.60.

Transocean (NYSE:RIG) last released its quarterly earnings results on Monday, February 17th. The offshore drilling services provider reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.11). The company had revenue of $952.00 million for the quarter, compared to the consensus estimate of $962.28 million. Transocean had a negative net margin of 14.53% and a negative return on equity of 0.52%. As a group, research analysts forecast that Transocean Ltd. will post 0.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. StockNews.com upgraded Transocean to a “sell” rating in a research note on Tuesday, November 12th. Evercore ISI cut Transocean from an “outperform” rating to an “in-line” rating and dropped their price target for the company from $6.00 to $5.00 in a report on Wednesday, January 15th. TD Cowen lowered their price objective on shares of Transocean from $6.50 to $5.50 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. JPMorgan Chase & Co. upgraded shares of Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 price target on the stock in a report on Friday, December 6th. Finally, Benchmark reiterated a “hold” rating on shares of Transocean in a report on Tuesday, December 3rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $5.75.

Insider Buying and Selling

In other news, EVP Roderick James Mackenzie sold 22,000 shares of Transocean stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $3.85, for a total value of $84,700.00. Following the completion of the transaction, the executive vice president now owns 313,072 shares of the company’s stock, valued at $1,205,327.20. This trade represents a 6.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 13.16% of the stock is currently owned by company insiders.

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.