Keybank National Association OH Acquires 405,804 Shares of Transocean Ltd. $RIG

Keybank National Association OH boosted its holdings in Transocean Ltd. (NYSE:RIG) by 3.3% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,656,881 shares of the offshore drilling services provider’s stock after acquiring an additional 405,804 shares during the quarter. Keybank National Association OH owned 1.14% of Transocean worth $83,915,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Dalal Street LLC bought a new position in shares of Transocean in the third quarter worth approximately $76,260,000. Ghisallo Capital Management LLC bought a new stake in Transocean during the third quarter valued at approximately $57,720,000. Zimmer Partners LP bought a new stake in Transocean during the third quarter valued at approximately $30,262,000. Barclays PLC grew its stake in Transocean by 230.6% in the 4th quarter. Barclays PLC now owns 10,802,664 shares of the offshore drilling services provider’s stock worth $44,615,000 after buying an additional 7,535,041 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Transocean by 20.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 43,470,312 shares of the offshore drilling services provider’s stock worth $179,531,000 after buying an additional 7,516,589 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Transocean Trading Up 3.8%

Shares of RIG opened at $5.05 on Friday. Transocean Ltd. has a fifty-two week low of $2.53 and a fifty-two week high of $7.66. The firm has a market cap of $5.64 billion, a price-to-earnings ratio of -1.70 and a beta of 1.30. The firm has a 50 day moving average price of $6.13 and a 200-day moving average price of $5.72. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.54.

Transocean (NYSE:RIG) last released its earnings results on Monday, May 4th. The offshore drilling services provider reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.10). The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.02 billion. Transocean had a negative net margin of 66.79% and a positive return on equity of 0.88%. Transocean’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.10) EPS. As a group, equities research analysts forecast that Transocean Ltd. will post 0.16 earnings per share for the current year.

Key Stories Impacting Transocean

Here are the key news stories impacting Transocean this week:

• Positive Sentiment: Transocean secured a conditional agreement with Equinor for three “Cat D” harsh-environment rigs, adding over $1 billion to backlog and strengthening future revenue visibility. MarketWatch article
• Positive Sentiment: Analysts at Zacks Research recently raised some longer-term earnings estimates for Transocean, reflecting improved expectations following the Equinor deal.
• Neutral Sentiment: The Equinor contract remains subject to license approvals, so the full benefit is not yet finalized.
• Negative Sentiment: Other Zacks updates trimmed near-term earnings estimates for 2026-2027, suggesting profitability may remain uneven before the new contract fully ramps.

Analysts Set New Price Targets

Several research firms have recently weighed in on RIG. Weiss Ratings restated a “sell (d-)” rating on shares of Transocean in a research report on Tuesday, April 21st. Barclays upgraded shares of Transocean from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $6.00 to $8.00 in a research report on Thursday, May 7th. Clarkson Capital downgraded Transocean from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 19th. Susquehanna lifted their price target on Transocean from $7.50 to $8.00 and gave the stock a “positive” rating in a research note on Tuesday, April 7th. Finally, Morgan Stanley upped their price objective on Transocean from $5.00 to $7.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 15th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $6.96.

Transocean 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.