Transocean Ltd. (RIG) Stake Decreased by Meag Munich Ergo Kapitalanlagegesellschaft MBH

Meag Munich Ergo Kapitalanlagegesellschaft MBH decreased its stake in shares of Transocean Ltd. (NYSE:RIG) by 16.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 724,441 shares of the offshore drilling services provider’s stock after selling 143,765 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH owned approximately 0.19% of Transocean worth $8,914,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. State Street Corp raised its stake in shares of Transocean by 3.1% in the fourth quarter. State Street Corp now owns 19,710,400 shares of the offshore drilling services provider’s stock valued at $290,542,000 after buying an additional 595,479 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Transocean by 7.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 11,128,617 shares of the offshore drilling services provider’s stock valued at $164,037,000 after buying an additional 770,565 shares in the last quarter. BlackRock Fund Advisors boosted its position in shares of Transocean by 3.0% in the third quarter. BlackRock Fund Advisors now owns 6,539,565 shares of the offshore drilling services provider’s stock valued at $69,712,000 after buying an additional 191,949 shares in the last quarter. Norges Bank purchased a new position in shares of Transocean during the fourth quarter valued at $92,740,000. Finally, Contrarius Investment Management Ltd purchased a new position in shares of Transocean during the third quarter valued at $59,302,000. 68.20% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Transocean (NYSE:RIG)

Shares of Transocean Ltd. (RIG) traded up 0.70% during midday trading on Friday, hitting $8.62. The company had a trading volume of 14,758,058 shares. The stock has a market capitalization of $3.37 billion, a price-to-earnings ratio of 5.18 and a beta of 1.70. The stock’s 50-day moving average price is $9.93 and its 200-day moving average price is $12.66. Transocean Ltd. has a one year low of $8.38 and a one year high of $16.66. Transocean also saw some unusual options trading on Wednesday. Stock investors bought 6,257 call options on the stock. This represents an increase of 613% compared to the typical volume of 878 call options.

Transocean (NYSE:RIG) last released its quarterly earnings results on Wednesday, May 3rd. The offshore drilling services provider reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.09. The business had revenue of $785 million during the quarter, compared to the consensus estimate of $737.51 million. Transocean had a return on equity of 2.57% and a net margin of 17.28%. Analysts predict that Transocean Ltd. will post ($0.45) EPS for the current year.

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A number of equities analysts recently weighed in on RIG shares. R. F. Lafferty decreased their price target on Transocean from $21.00 to $16.00 and set a “buy” rating for the company in a research report on Monday, May 8th. Royal Bank Of Canada reissued a “sell” rating and issued a $13.00 price objective on shares of Transocean in a research note on Monday, May 15th. Tudor Pickering assumed coverage on Transocean in a research note on Thursday, March 23rd. They issued a “hold” rating for the company. B. Riley cut their price target on Transocean from $21.00 to $16.00 and set a “buy” rating for the company in a research note on Tuesday, May 9th. Finally, Jefferies Group LLC set a $12.00 price target on Transocean and gave the stock a “hold” rating in a research note on Wednesday, May 24th. Sixteen analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $13.06.

In other Transocean news, SVP David A. Tonnel sold 9,450 shares of Transocean stock in a transaction dated Thursday, April 27th. The stock was sold at an average price of $11.28, for a total transaction of $106,596.00. Following the completion of the transaction, the senior vice president now owns 54,845 shares in the company, valued at approximately $618,651.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is currently owned by insiders.

About Transocean

Transocean Ltd. is an international provider of offshore contract drilling services for oil and gas wells. The Company’s primary business is to contract its drilling rigs, related equipment and work crews on a dayrate basis to drill oil and gas wells. As of February 9, 2017, it owned or had partial ownership interests in and operated 56 mobile offshore drilling units.

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