Russell Investments Group Ltd. Has $3.59 Million Stake in Transocean Ltd. (NYSE:RIG)

Russell Investments Group Ltd. lifted its position in shares of Transocean Ltd. (NYSE:RIG - Free Report) by 54.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 957,026 shares of the offshore drilling services provider's stock after buying an additional 336,208 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.11% of Transocean worth $3,588,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Transocean by 1.2% in the fourth 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 during the last quarter. American Century Companies Inc. increased its position in Transocean by 51.5% during the 4th 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 in the last quarter. Geode Capital Management LLC raised its stake in Transocean by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 17,245,298 shares of the offshore drilling services provider's stock valued at $73,307,000 after purchasing an additional 680,242 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Transocean by 33.9% in the 4th quarter. Van ECK Associates Corp now owns 15,393,873 shares of the offshore drilling services provider's stock valued at $57,727,000 after purchasing an additional 3,895,880 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Transocean by 7.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,465,534 shares of the offshore drilling services provider's stock worth $46,746,000 after purchasing an additional 859,214 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Analyst Ratings Changes

RIG has been the topic of several recent analyst reports. Citigroup cut their price objective on shares of Transocean from $4.50 to $3.50 and set a "neutral" rating on the stock in a report on Wednesday, March 19th. TD Cowen decreased their price target on shares of Transocean from $6.50 to $5.50 and set a "hold" rating on the stock in a report on Wednesday, January 8th. Susquehanna cut their price objective on Transocean from $5.00 to $4.00 and set a "positive" rating on the stock in a report on Monday, April 14th. Morgan Stanley reduced their target price on shares of Transocean from $5.00 to $4.00 and set an "equal weight" rating on the stock in a report on Thursday, March 27th. Finally, Barclays dropped their price target on shares of Transocean from $4.00 to $3.50 and set an "overweight" rating on the stock in a research note on Monday, April 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $4.59.

Transocean Stock Performance

Shares of NYSE:RIG traded up $0.12 on Friday, hitting $2.28. 44,828,532 shares of the company were exchanged, compared to its average volume of 24,140,492. The company's 50 day moving average price is $2.92 and its two-hundred day moving average price is $3.67. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of -3.12, a PEG ratio of 0.86 and a beta of 2.29. 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 one year low of $1.97 and a one year high of $6.38.

Transocean (NYSE:RIG - Get Free Report) last issued its quarterly earnings results 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 net margin of 14.53% and a negative return on equity of 0.52%. The firm had revenue of $952.00 million for the quarter, compared to the consensus estimate of $962.28 million. Research analysts expect that Transocean Ltd. will post 0.14 earnings per share for the current year.

Insider Activity

In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of Transocean stock in a transaction on Friday, April 11th. The stock was sold at an average price of $2.23, for a total transaction of $49,060.00. Following the completion of the transaction, the executive vice president now directly owns 362,841 shares of the company's stock, valued at approximately $809,135.43. This trade represents a 5.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 13.16% of the stock is currently owned by company insiders.

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.