Transocean Ltd. (NYSE:RIG) Shares Purchased by Swiss National Bank

Swiss National Bank lifted its stake in shares of Transocean Ltd. (NYSE:RIG) by 0.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,463,630 shares of the offshore drilling services provider’s stock after acquiring an additional 12,900 shares during the period. Swiss National Bank owned 0.17% of Transocean worth $5,489,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Ballentine Partners LLC raised its position in shares of Transocean by 19.4% in the 4th quarter. Ballentine Partners LLC now owns 18,247 shares of the offshore drilling services provider’s stock worth $68,000 after buying an additional 2,963 shares during the period. Pallas Capital Advisors LLC lifted its position in Transocean by 25.6% during the 4th quarter. Pallas Capital Advisors LLC now owns 15,332 shares of the offshore drilling services provider’s stock worth $57,000 after acquiring an additional 3,127 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its holdings in Transocean by 34.0% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 15,877 shares of the offshore drilling services provider’s stock worth $62,000 after acquiring an additional 4,027 shares during the period. Avantax Advisory Services Inc. grew its position in Transocean by 4.2% in the fourth quarter. Avantax Advisory Services Inc. now owns 107,012 shares of the offshore drilling services provider’s stock valued at $401,000 after acquiring an additional 4,285 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in shares of Transocean by 96.2% during the fourth quarter. Blue Trust Inc. now owns 9,841 shares of the offshore drilling services provider’s stock valued at $37,000 after purchasing an additional 4,826 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

Transocean Trading Down 1.4 %

NYSE:RIG opened at $3.20 on Monday. Transocean Ltd. has a 12-month low of $2.55 and a 12-month high of $6.88. The firm has a market capitalization of $2.81 billion, a P/E ratio of -4.38, a P/E/G ratio of 0.86 and a beta of 2.72. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.47 and a quick ratio of 1.34. The business has a 50 day simple moving average of $3.49 and a 200 day simple moving average of $3.93.

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

Wall Street Analyst Weigh In

RIG has been the topic of a number of analyst reports. Barclays dropped their target price on Transocean from $4.50 to $4.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 25th. TD Cowen dropped their price objective on Transocean from $6.50 to $5.50 and set a “hold” rating on the stock in a report on Wednesday, January 8th. SEB Equity Research set a $2.80 target price on Transocean in a research note on Wednesday, March 5th. Benchmark restated a “hold” rating on shares of Transocean in a research note on Tuesday, December 3rd. Finally, Evercore ISI downgraded shares of Transocean from an “outperform” rating to an “in-line” rating and dropped their target price for the stock from $6.00 to $5.00 in a research report on Wednesday, January 15th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.23.

Insiders Place Their Bets

In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of the company’s 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 sale, the executive vice president now directly owns 313,072 shares of the company’s stock, valued at approximately $1,205,327.20. This represents a 6.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.16% of the stock is owned by 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.