Tudor Investment Corp ET AL Sells 2,143,380 Shares of Transocean Ltd. $RIG

Tudor Investment Corp ET AL decreased its holdings in shares of Transocean Ltd. (NYSE:RIG) by 50.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 2,124,988 shares of the offshore drilling services provider’s stock after selling 2,143,380 shares during the period. Tudor Investment Corp ET AL’s holdings in Transocean were worth $6,630,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Transocean by 19.3% during the 3rd quarter. Vanguard Group Inc. now owns 94,519,248 shares of the offshore drilling services provider’s stock valued at $294,900,000 after acquiring an additional 15,315,289 shares during the period. American Century Companies Inc. increased its stake in Transocean by 12.8% in the 3rd quarter. American Century Companies Inc. now owns 26,456,554 shares of the offshore drilling services provider’s stock worth $82,544,000 after buying an additional 3,006,786 shares during the period. Dalal Street LLC purchased a new stake in Transocean in the 3rd quarter valued at about $76,260,000. Two Sigma Investments LP grew its stake in Transocean by 0.3% in the 3rd quarter. Two Sigma Investments LP now owns 18,636,188 shares of the offshore drilling services provider’s stock worth $58,145,000 after acquiring an additional 64,305 shares in the last quarter. Finally, Ghisallo Capital Management LLC purchased a new position in shares of Transocean during the third quarter worth approximately $57,720,000. 67.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Barclays cut Transocean from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $4.50 to $6.00 in a research note on Wednesday, February 18th. Susquehanna raised their price target on Transocean from $6.50 to $7.50 and gave the company a “positive” rating in a research note on Monday, February 23rd. Citigroup lifted their price objective on Transocean from $4.25 to $4.50 and gave the company a “neutral” rating in a report on Thursday, December 11th. BTIG Research increased their target price on shares of Transocean from $6.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, February 9th. Finally, Fearnley Fonds downgraded shares of Transocean from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 10th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $6.38.

Transocean Stock Performance

RIG stock opened at $6.62 on Wednesday. Transocean Ltd. has a one year low of $1.97 and a one year high of $6.96. The firm has a market cap of $7.30 billion, a price-to-earnings ratio of -2.10 and a beta of 1.40. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.27 and a current ratio of 1.56. The firm has a 50-day simple moving average of $5.72 and a two-hundred day simple moving average of $4.49.

Transocean (NYSE:RIG) last posted its quarterly earnings data on Thursday, February 19th. The offshore drilling services provider reported $0.02 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.07). Transocean had a positive return on equity of 0.41% and a negative net margin of 73.52%.The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the firm earned ($0.09) EPS. The company’s revenue was up 9.6% compared to the same quarter last year. On average, equities analysts forecast that Transocean Ltd. will post 0.14 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Roderick James Mackenzie sold 78,370 shares of the business’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $6.36, for a total transaction of $498,433.20. Following the transaction, the executive vice president directly owned 268,025 shares in the company, valued at $1,704,639. The trade was a 22.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Keelan Adamson sold 58,687 shares of the company’s stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $5.00, for a total value of $293,435.00. Following the transaction, the chief executive officer directly owned 1,222,182 shares in the company, valued at $6,110,910. This represents a 4.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 159,903 shares of company stock worth $906,098. Insiders own 12.54% of the company’s stock.

Transocean Company Profile

Transocean Ltd. is a leading international provider of offshore contract drilling services for the oil and gas industry. The company specializes in the operation of mobile drilling units, including ultra-deepwater drillships, semisubmersible rigs and high-specification jackup rigs. Transocean’s fleet is designed to meet complex drilling requirements, from ultra-deepwater well construction to shelf exploration and development projects.

The company’s core services encompass the full spectrum of offshore drilling operations, including project and engineering management, marine operations, drilling supervision, and maintenance support.