Dynamic Technology Lab Private Ltd Buys Shares of 324,024 Transocean Ltd. (NYSE:RIG)

Dynamic Technology Lab Private Ltd bought a new position in shares of Transocean Ltd. (NYSE:RIG - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 324,024 shares of the offshore drilling services provider's stock, valued at approximately $1,215,000.

A number of other institutional investors have also recently modified their holdings of the business. Twin Tree Management LP purchased a new position in shares of Transocean in the fourth quarter valued at approximately $27,000. Blue Trust Inc. boosted its stake in Transocean by 96.2% during the 4th quarter. Blue Trust Inc. now owns 9,841 shares of the offshore drilling services provider's stock worth $37,000 after purchasing an additional 4,826 shares during the last quarter. Adero Partners LLC purchased a new stake in shares of Transocean during the fourth quarter worth $38,000. Stratos Wealth Partners LTD. acquired a new stake in shares of Transocean in the fourth quarter valued at about $40,000. Finally, R Squared Ltd purchased a new position in shares of Transocean in the fourth quarter worth about $41,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Transocean Stock Up 1.6 %

NYSE:RIG traded up $0.04 during mid-day trading on Friday, reaching $2.21. The stock had a trading volume of 19,289,450 shares, compared to its average volume of 23,579,150. 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 company has a market capitalization of $1.95 billion, a price-to-earnings ratio of -3.02, a price-to-earnings-growth ratio of 0.86 and a beta of 2.29. Transocean Ltd. has a 1-year low of $1.97 and a 1-year high of $6.47. The stock's 50 day simple moving average is $3.11 and its two-hundred day simple moving average is $3.76.

Transocean (NYSE:RIG - Get Free Report) last posted 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 analyst estimates of $962.28 million. Transocean had a negative net margin of 14.53% and a negative return on equity of 0.52%. Equities analysts anticipate that Transocean Ltd. will post 0.14 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. TD Cowen reduced their price objective on Transocean from $6.50 to $5.50 and set a "hold" rating on the stock in a research report on Wednesday, January 8th. Barclays dropped their price objective on Transocean from $4.00 to $3.50 and set an "overweight" rating for the company in a research note on Monday. Citigroup cut their price target on shares of Transocean from $4.50 to $3.50 and set a "neutral" rating on the stock in a research note on Wednesday, March 19th. SEB Equity Research set a $2.80 price target on shares of Transocean in a research report on Wednesday, March 5th. Finally, Evercore ISI cut shares of Transocean from an "outperform" rating to an "in-line" rating and reduced their target price for the company from $6.00 to $5.00 in a report on Wednesday, January 15th. Two investment 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 data from MarketBeat.com, Transocean has an average rating of "Hold" and a consensus target price of $4.98.

Insider Buying and Selling at Transocean

In other 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 transaction, the executive vice president now owns 313,072 shares in the company, valued at approximately $1,205,327.20. This represents a 6.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 13.16% of the stock is currently owned by insiders.

About Transocean

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.