Prudential Financial Inc. Has $1.86 Million Position in Transocean Ltd. (NYSE:RIG)

Prudential Financial Inc. grew its holdings in Transocean Ltd. (NYSE:RIG - Free Report) by 899.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 495,675 shares of the offshore drilling services provider's stock after purchasing an additional 446,100 shares during the period. Prudential Financial Inc. owned approximately 0.06% of Transocean worth $1,859,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in Transocean by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 78,811,863 shares of the offshore drilling services provider's stock worth $295,544,000 after acquiring an additional 931,684 shares in the last quarter. Cedar Wealth Management LLC increased its holdings in shares of Transocean by 7.1% in the 4th quarter. Cedar Wealth Management LLC now owns 104,128 shares of the offshore drilling services provider's stock valued at $390,000 after purchasing an additional 6,916 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of Transocean in the fourth quarter worth approximately $547,000. American Century Companies Inc. boosted its holdings in shares of Transocean by 51.5% during the fourth quarter. American Century Companies Inc. now owns 19,257,437 shares of the offshore drilling services provider's stock worth $72,215,000 after purchasing an additional 6,542,271 shares during the period. Finally, Xponance Inc. grew its position in Transocean by 25.4% during the fourth quarter. Xponance Inc. now owns 64,445 shares of the offshore drilling services provider's stock valued at $242,000 after purchasing an additional 13,070 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Insider Buying and Selling

In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $3.85, for a total value of $84,700.00. Following the sale, the executive vice president now owns 313,072 shares of the company's stock, valued at $1,205,327.20. This trade represents a 6.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 13.16% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Barclays cut their target price on shares of Transocean from $4.00 to $3.50 and set an "overweight" rating for the company in a research report on Monday. SEB Equity Research set a $2.80 price objective on Transocean in a report on Wednesday, March 5th. Citigroup lowered their target price on Transocean from $4.50 to $3.50 and set a "neutral" rating on the stock in a research note on Wednesday, March 19th. TD Cowen cut their price target on Transocean from $6.50 to $5.50 and set a "hold" rating for the company in a research note on Wednesday, January 8th. Finally, Morgan Stanley reduced their price target on Transocean from $5.00 to $4.00 and set an "equal weight" rating for the company in a report on Thursday, March 27th. Two investment 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 data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $4.98.

Transocean Stock Performance

RIG traded up $0.22 on Wednesday, hitting $2.41. The company had a trading volume of 94,125,649 shares, compared to its average volume of 23,490,826. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of -3.29, a price-to-earnings-growth ratio of 0.86 and a beta of 2.29. 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's fifty day moving average price is $3.14 and its 200 day moving average price is $3.78. Transocean Ltd. has a 1-year low of $1.97 and a 1-year high of $6.47.

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

Transocean Company 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.