Keating Investment Counselors Inc. acquired a new position in shares of Transocean Ltd. (NYSE:RIG - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 191,950 shares of the offshore drilling services provider's stock, valued at approximately $720,000.
Several other institutional investors have also recently modified their holdings of RIG. Blue Trust Inc. raised its holdings in Transocean by 96.2% in the 4th quarter. Blue Trust Inc. now owns 9,841 shares of the offshore drilling services provider's stock valued at $37,000 after acquiring an additional 4,826 shares during the last quarter. Adero Partners LLC acquired a new position in Transocean in the 4th quarter valued at $38,000. Stratos Wealth Partners LTD. acquired a new position in Transocean in the 4th quarter valued at $40,000. R Squared Ltd acquired a new position in Transocean in the 4th quarter valued at $41,000. Finally, Orion Portfolio Solutions LLC acquired a new position in Transocean in the 3rd quarter valued at $46,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.
Transocean Stock Down 5.5 %
Transocean stock traded down $0.20 during trading on Friday, reaching $3.37. 39,071,793 shares of the company's stock were exchanged, compared to its average volume of 27,530,055. The company's 50-day moving average is $3.79 and its two-hundred day moving average is $4.21. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.34 and a current ratio of 1.47. Transocean Ltd. has a 52-week low of $3.35 and a 52-week high of $6.88. The firm has a market cap of $2.96 billion, a price-to-earnings ratio of -4.61, a PEG ratio of 0.83 and a beta of 2.70.
Transocean (NYSE:RIG - Get Free Report) last announced its quarterly earnings results on Monday, February 17th. The offshore drilling services provider reported ($0.09) earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($0.11). Transocean had a negative return on equity of 0.52% and a negative net margin of 14.53%. The business had revenue of $952.00 million for the quarter, compared to analysts' expectations of $962.28 million. On average, analysts predict that Transocean Ltd. will post 0.14 earnings per share for the current year.
Insider Buying and Selling
In related news, EVP Roderick James Mackenzie sold 22,000 shares of the company's stock in a transaction on 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 of the company's stock, valued at approximately $1,205,327.20. This represents a 6.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 13.16% of the stock is owned by corporate insiders.
Analyst Ratings Changes
RIG has been the subject of several analyst reports. Benchmark reiterated a "hold" rating on shares of Transocean in a report on Tuesday, December 3rd. Barclays upgraded Transocean from an "equal weight" rating to an "overweight" rating and set a $4.50 price target for the company in a report on Wednesday, December 18th. StockNews.com upgraded Transocean to a "sell" rating in a report on Tuesday, November 12th. Susquehanna dropped their price objective on Transocean from $7.00 to $6.50 and set a "positive" rating for the company in a report on Friday, November 1st. Finally, TD Cowen dropped their price objective on Transocean from $6.50 to $5.50 and set a "hold" rating for the company in a report on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $5.94.
Read Our Latest Stock Report on Transocean
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.
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