Vanguard Group Inc. Grows Stock Position in Transocean Ltd. $RIG

Vanguard Group Inc. lifted its stake in Transocean Ltd. (NYSE:RIG) by 2.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 97,006,263 shares of the offshore drilling services provider’s stock after buying an additional 2,487,015 shares during the period. Vanguard Group Inc. owned approximately 0.09% of Transocean worth $400,636,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of RIG. TD Waterhouse Canada Inc. increased its holdings in shares of Transocean by 22,432.1% in the fourth quarter. TD Waterhouse Canada Inc. now owns 6,309 shares of the offshore drilling services provider’s stock worth $26,000 after buying an additional 6,281 shares during the period. Josh Arnold Investment Consultant LLC purchased a new position in shares of Transocean in the second quarter worth about $26,000. Flagship Harbor Advisors LLC purchased a new position in shares of Transocean in the fourth quarter worth about $27,000. Benedict Financial Advisors Inc. purchased a new position in shares of Transocean in the third quarter worth about $31,000. Finally, Vestmark Advisory Solutions Inc. purchased a new position in Transocean during the 3rd quarter valued at about $31,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Clarkson Capital downgraded Transocean from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 19th. Pareto Securities downgraded Transocean from a “hold” rating to a “sell” rating and set a $5.25 price target on the stock. in a report on Tuesday, February 10th. TD Cowen boosted their price target on Transocean from $5.50 to $6.00 and gave the company a “hold” rating in a report on Wednesday. Weiss Ratings restated a “sell (d-)” rating on shares of Transocean in a report on Tuesday, April 21st. Finally, Morgan Stanley boosted their price target on Transocean from $5.00 to $7.00 and gave the company an “equal weight” rating in a report on Wednesday, April 15th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $6.96.

Transocean Stock Down 0.2%

RIG stock opened at $6.24 on Thursday. Transocean Ltd. has a fifty-two week low of $2.27 and a fifty-two week high of $7.14. The business’s 50 day moving average price is $6.40 and its two-hundred day moving average price is $5.14. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.27 and a current ratio of 1.54. The company has a market capitalization of $6.90 billion, a price-to-earnings ratio of -2.09 and a beta of 1.34.

Transocean (NYSE:RIG) last posted its earnings results on Monday, May 4th. The offshore drilling services provider reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.10). Transocean had a positive return on equity of 0.88% and a negative net margin of 66.79%.The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter last year, the company posted ($0.10) EPS. The firm’s revenue was up 19.3% on a year-over-year basis. As a group, analysts forecast that Transocean Ltd. will post 0.21 earnings per share for the current fiscal year.

Insider Transactions at Transocean

In related news, EVP Roderick James Mackenzie sold 78,370 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $6.36, for a total value of $498,433.20. Following the transaction, the executive vice president directly owned 268,025 shares of the company’s stock, valued at approximately $1,704,639. This represents a 22.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 9.70% 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.