Transocean Ltd. (NYSE:RIG) Holdings Raised by Vanguard Group Inc.

Vanguard Group Inc. lifted its holdings in shares of Transocean Ltd. (NYSE:RIG - Free Report) by 1.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 78,811,863 shares of the offshore drilling services provider's stock after buying an additional 931,684 shares during the period. Vanguard Group Inc. owned 9.00% of Transocean worth $295,544,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of RIG. State Street Corp grew its holdings in shares of Transocean by 11.0% during the third quarter. State Street Corp now owns 19,594,121 shares of the offshore drilling services provider's stock valued at $83,275,000 after purchasing an additional 1,944,723 shares during the last quarter. American Century Companies Inc. boosted 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 valued at $72,215,000 after purchasing an additional 6,542,271 shares during the period. Geode Capital Management LLC grew its stake in Transocean by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 17,245,298 shares of the offshore drilling services provider's stock worth $73,307,000 after buying an additional 680,242 shares during the last quarter. Van ECK Associates Corp increased its position in Transocean by 33.9% in the fourth quarter. Van ECK Associates Corp now owns 15,393,873 shares of the offshore drilling services provider's stock worth $57,727,000 after buying an additional 3,895,880 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Transocean by 7.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,465,534 shares of the offshore drilling services provider's stock valued at $46,746,000 after buying an additional 859,214 shares during 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 dated 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 directly owns 229,596 shares in the company, valued at $929,863.80. This trade represents a 8.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 13.16% of the stock is currently owned by insiders.

Transocean Price Performance

Shares of Transocean stock traded up $0.22 during trading on Wednesday, hitting $2.41. The stock had a trading volume of 94,125,649 shares, compared to its average volume of 23,490,826. The business has a fifty day moving average of $3.14 and a two-hundred day moving average of $3.78. Transocean Ltd. has a fifty-two week low of $1.97 and a fifty-two week high of $6.47. The firm has a market cap of $2.12 billion, a P/E ratio of -3.29, a PEG 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.

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 for the quarter, missing analysts' consensus estimates of $0.02 by ($0.11). The business had revenue of $952.00 million during the quarter, compared to analyst estimates of $962.28 million. Transocean had a negative net margin of 14.53% and a negative return on equity of 0.52%. On average, sell-side analysts expect that Transocean Ltd. will post 0.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on RIG shares. Evercore ISI cut shares of Transocean from an "outperform" rating to an "in-line" rating and dropped their price objective for the stock from $6.00 to $5.00 in a report on Wednesday, January 15th. Citigroup dropped their price target on shares of Transocean from $4.50 to $3.50 and set a "neutral" rating on the stock in a research note on Wednesday, March 19th. Barclays cut their price target on Transocean from $4.00 to $3.50 and set an "overweight" rating on the stock in a report on Monday. TD Cowen decreased 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. Finally, SEB Equity Research set a $2.80 target price on Transocean in a research note on Wednesday, March 5th. Two investment 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $4.98.

About Transocean

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.