KLP Kapitalforvaltning AS acquired a new stake in shares of Transocean Ltd. (NYSE:RIG - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 145,800 shares of the offshore drilling services provider's stock, valued at approximately $547,000.
Other large investors have also bought and sold shares of the company. American Century Companies Inc. grew its stake in shares of Transocean by 51.5% during the 4th quarter. American Century Companies Inc. now owns 19,257,437 shares of the offshore drilling services provider's stock worth $72,215,000 after acquiring an additional 6,542,271 shares during the period. Xponance Inc. grew its stake in Transocean by 25.4% in the 4th quarter. Xponance Inc. now owns 64,445 shares of the offshore drilling services provider's stock valued at $242,000 after buying an additional 13,070 shares in the last quarter. Tejara Capital Ltd raised its holdings in Transocean by 0.6% during the 4th quarter. Tejara Capital Ltd now owns 1,911,727 shares of the offshore drilling services provider's stock valued at $7,169,000 after acquiring an additional 10,890 shares during the period. Cibc World Markets Corp purchased a new stake in shares of Transocean during the fourth quarter worth $256,000. Finally, Twin Tree Management LP bought a new position in shares of Transocean in the fourth quarter worth $27,000. 67.73% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
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 transaction of $84,700.00. Following the completion of the sale, the executive vice president now directly owns 313,072 shares in the company, valued at $1,205,327.20. This represents a 6.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 13.16% of the stock is currently owned by corporate insiders.
Transocean Price Performance
Shares of NYSE RIG traded down $0.19 during mid-day trading on Tuesday, reaching $2.19. 77,147,170 shares of the company were exchanged, compared to its average volume of 23,219,542. Transocean Ltd. has a 52 week low of $1.97 and a 52 week high of $6.65. The company's 50 day moving average price is $3.20 and its 200 day moving average price is $3.80. The stock has a market capitalization of $1.93 billion, a PE ratio of -2.99, a PEG ratio of 0.86 and a beta of 2.29. 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 - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $952.00 million for the quarter, compared to the consensus estimate of $962.28 million. Transocean had a negative return on equity of 0.52% and a negative net margin of 14.53%. Sell-side 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 analysts recently issued reports on the company. 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. Citigroup lowered their price target on shares of Transocean from $4.50 to $3.50 and set a "neutral" rating on the stock in a report on Wednesday, March 19th. Evercore ISI cut shares of Transocean from an "outperform" rating to an "in-line" rating and reduced their price objective for the company from $6.00 to $5.00 in a research note on Wednesday, January 15th. Morgan Stanley lowered their target price on shares of Transocean from $5.00 to $4.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 27th. Finally, Barclays cut their price target on shares of Transocean from $4.00 to $3.50 and set an "overweight" rating for the company in a report on Monday. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Transocean currently has an average rating of "Hold" and a consensus price target of $4.98.
Read Our Latest Stock Analysis on RIG
Transocean Company Profile
(
Free Report)
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.
See Also
Before you consider Transocean, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Transocean wasn't on the list.
While Transocean currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
