Charles Schwab Investment Management Inc. Acquires 859,214 Shares of Transocean Ltd. (NYSE:RIG)

Charles Schwab Investment Management Inc. lifted its stake in Transocean Ltd. (NYSE:RIG - Free Report) by 7.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,465,534 shares of the offshore drilling services provider's stock after purchasing an additional 859,214 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.42% of Transocean worth $46,746,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp raised its position in Transocean by 163.7% during the fourth quarter. Jones Financial Companies Lllp now owns 22,655 shares of the offshore drilling services provider's stock valued at $85,000 after acquiring an additional 14,065 shares in the last quarter. Kohmann Bosshard Financial Services LLC raised its position in Transocean by 10.0% during the fourth quarter. Kohmann Bosshard Financial Services LLC now owns 82,500 shares of the offshore drilling services provider's stock valued at $309,000 after acquiring an additional 7,500 shares in the last quarter. Hosking Partners LLP raised its position in Transocean by 23.5% during the fourth quarter. Hosking Partners LLP now owns 1,706,143 shares of the offshore drilling services provider's stock valued at $6,398,000 after acquiring an additional 324,955 shares in the last quarter. Oppenheimer & Co. Inc. raised its position in Transocean by 11.8% during the fourth quarter. Oppenheimer & Co. Inc. now owns 76,353 shares of the offshore drilling services provider's stock valued at $286,000 after acquiring an additional 8,087 shares in the last quarter. Finally, Thompson Davis & CO. Inc. bought a new position in Transocean during the fourth quarter valued at approximately $90,000. Institutional investors own 67.73% of the company's stock.

Remove Ads

Insiders Place Their Bets

In other news, EVP Roderick James Mackenzie sold 22,000 shares of the business's stock in a transaction on Tuesday, February 11th. The shares were 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 in the company, valued at approximately $1,205,327.20. The trade was a 6.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 13.16% of the company's stock.

Transocean Stock Performance

Shares of Transocean stock traded up $0.02 during midday trading on Tuesday, hitting $3.19. The company had a trading volume of 28,423,820 shares, compared to its average volume of 21,471,971. The business's 50 day simple moving average is $3.56 and its two-hundred day simple moving average is $3.97. The stock has a market cap of $2.80 billion, a PE ratio of -4.36, a P/E/G ratio of 0.86 and a beta of 2.72. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.47 and a quick ratio of 1.34. Transocean Ltd. has a 1-year low of $2.55 and a 1-year high of $6.88.

Transocean (NYSE:RIG - Get Free Report) last announced its quarterly earnings data 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). Transocean had a negative return on equity of 0.52% and a negative net margin of 14.53%. The company had revenue of $952.00 million during the quarter, compared to analyst estimates of $962.28 million. As a group, equities analysts predict that Transocean Ltd. will post 0.14 EPS for the current fiscal year.

Analyst Ratings Changes

RIG has been the topic of several recent research reports. Evercore ISI lowered shares of Transocean from an "outperform" rating to an "in-line" rating and cut their price objective for the company from $6.00 to $5.00 in a research report on Wednesday, January 15th. SEB Equity Research set a $2.80 price target on shares of Transocean in a research report on Wednesday, March 5th. Benchmark reissued a "hold" rating on shares of Transocean in a research report on Tuesday, December 3rd. TD Cowen dropped their price target on shares of Transocean from $6.50 to $5.50 and set a "hold" rating on the stock in a research report on Wednesday, January 8th. Finally, Barclays dropped their price target on shares of Transocean from $4.50 to $4.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $5.42.

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.