Jump Financial LLC Purchases 250,571 Shares of Transocean Ltd. (NYSE:RIG)

Jump Financial LLC increased its stake in shares of Transocean Ltd. (NYSE:RIG - Free Report) by 75.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 581,381 shares of the offshore drilling services provider's stock after purchasing an additional 250,571 shares during the quarter. Jump Financial LLC owned about 0.07% of Transocean worth $2,180,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. American Century Companies Inc. boosted its position in Transocean by 51.5% in the 4th quarter. American Century Companies Inc. now owns 19,257,437 shares of the offshore drilling services provider's stock valued at $72,215,000 after buying an additional 6,542,271 shares during the last quarter. Renaissance Technologies LLC bought a new position in Transocean in the fourth quarter valued at about $16,608,000. Van ECK Associates Corp increased its position in Transocean by 33.9% in the fourth quarter. Van ECK Associates Corp now owns 15,393,873 shares of the offshore drilling services provider's stock worth $57,727,000 after purchasing an additional 3,895,880 shares during the period. Madison Investment Advisors LLC bought a new stake in Transocean during the 4th quarter worth about $11,156,000. Finally, Vanguard Group Inc. lifted its position in Transocean by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 78,811,863 shares of the offshore drilling services provider's stock valued at $295,544,000 after purchasing an additional 931,684 shares during the period. Institutional investors and hedge funds own 67.73% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on RIG. Citigroup dropped their price target on shares of Transocean from $4.50 to $3.50 and set a "neutral" rating for the company in a research note on Wednesday, March 19th. Barclays reduced their price target on Transocean from $4.00 to $3.50 and set an "overweight" rating on the stock in a research report on Monday, April 7th. Morgan Stanley dropped their price objective on Transocean from $5.00 to $4.00 and set an "equal weight" rating for the company in a report on Thursday, March 27th. TD Cowen dropped their price target on Transocean from $6.50 to $5.50 and set a "hold" rating on the stock in a research report on Wednesday, January 8th. Finally, Susquehanna reduced their target price on shares of Transocean from $5.00 to $4.00 and set a "positive" rating for the company in a research note on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $4.59.

Insider Activity at Transocean

In related news, EVP Roderick James Mackenzie sold 22,000 shares of the business's stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $2.23, for a total value of $49,060.00. Following the completion of the sale, the executive vice president now directly owns 362,841 shares in the company, valued at approximately $809,135.43. The trade was a 5.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 13.16% of the stock is currently owned by corporate insiders.

Transocean Stock Performance

Shares of Transocean stock traded up $0.02 during trading on Wednesday, hitting $2.16. 42,293,872 shares of the stock were exchanged, compared to its average volume of 24,288,737. The company has a fifty day moving average price of $2.86 and a 200-day moving average price of $3.64. Transocean Ltd. has a 1-year low of $1.97 and a 1-year high of $6.38. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of -2.96, a price-to-earnings-growth ratio of 0.86 and a beta of 2.29. The company has a current ratio of 1.47, a quick ratio of 1.34 and a debt-to-equity ratio of 0.60.

Transocean (NYSE:RIG - Get Free Report) last posted its earnings results on Monday, February 17th. The offshore drilling services provider reported ($0.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.02 by ($0.11). The company had revenue of $952.00 million for the quarter, compared to analyst estimates of $962.28 million. Transocean had a negative return on equity of 0.52% and a negative net margin of 14.53%. As a group, equities analysts predict that Transocean Ltd. will post 0.14 EPS for the current fiscal year.

Transocean Profile

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.