Transocean Ltd. (NYSE:RIG) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA reduced its position in Transocean Ltd. (NYSE:RIG - Free Report) by 2.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,816,411 shares of the offshore drilling services provider's stock after selling 1,525,758 shares during the quarter. Primecap Management Co. CA owned 6.26% of Transocean worth $205,562,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Cibc World Markets Corp purchased a new stake in shares of Transocean in the 4th quarter worth approximately $256,000. Twin Tree Management LP purchased a new stake in Transocean during the fourth quarter worth $27,000. one8zero8 LLC bought a new stake in Transocean during the 4th quarter valued at $105,000. Madison Investment Advisors LLC purchased a new position in shares of Transocean in the 4th quarter valued at $11,156,000. Finally, Swiss National Bank raised its position in shares of Transocean by 0.9% in the 4th quarter. Swiss National Bank now owns 1,463,630 shares of the offshore drilling services provider's stock worth $5,489,000 after acquiring an additional 12,900 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Transocean Stock Performance

Shares of RIG stock traded down $0.05 during trading hours on Friday, hitting $3.20. The company's stock had a trading volume of 40,840,001 shares, compared to its average volume of 21,729,559. The company has a current ratio of 1.47, a quick ratio of 1.34 and a debt-to-equity ratio of 0.60. The company has a 50 day moving average of $3.51 and a 200 day moving average of $3.94. Transocean Ltd. has a 12-month low of $2.55 and a 12-month high of $6.88. The stock has a market cap of $2.81 billion, a PE ratio of -4.38, a price-to-earnings-growth ratio of 0.86 and a beta of 2.72.

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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 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 for the quarter, compared to analyst estimates of $962.28 million. On average, sell-side analysts forecast that Transocean Ltd. will post 0.14 EPS for the current fiscal year.

Insider Buying and Selling at Transocean

In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of Transocean stock in a transaction on Friday, January 10th. The shares were sold at an average price of $4.05, for a total value of $89,100.00. Following the completion of the transaction, the executive vice president now owns 229,596 shares of the company's stock, valued at approximately $929,863.80. The trade was a 8.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 13.16% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on RIG. SEB Equity Research set a $2.80 price objective on Transocean in a research report on Wednesday, March 5th. Evercore ISI lowered shares of Transocean from an "outperform" rating to an "in-line" rating and reduced their price objective for the stock from $6.00 to $5.00 in a research note on Wednesday, January 15th. Barclays lowered their target price on shares of Transocean from $4.50 to $4.00 and set an "overweight" rating for the company in a research note on Tuesday, February 25th. TD Cowen reduced 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, Benchmark reiterated a "hold" rating on shares of Transocean in a report on Tuesday, December 3rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $5.23.

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.