Thompson Siegel & Walmsley LLC lowered its holdings in Transocean Ltd. (NYSE:RIG) by 27.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,599,746 shares of the offshore drilling services provider’s stock after selling 1,699,715 shares during the period. Thompson Siegel & Walmsley LLC owned about 1.18% of Transocean worth $49,493,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Public Employees Retirement Association of Colorado grew its stake in shares of Transocean by 12.7% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 12,340 shares of the offshore drilling services provider’s stock worth $102,000 after purchasing an additional 1,394 shares during the last quarter. Dumont & Blake Investment Advisors LLC purchased a new position in shares of Transocean in the third quarter worth approximately $108,000. Capstone Investment Advisors Netherlands B.V. purchased a new position in shares of Transocean in the second quarter worth approximately $111,000. Advisor Partners LLC purchased a new position in shares of Transocean in the second quarter worth approximately $112,000. Finally, Dupont Capital Management Corp purchased a new position in shares of Transocean in the second quarter worth approximately $113,000. 70.60% of the stock is currently owned by institutional investors.
Several research firms have recently weighed in on RIG. ValuEngine downgraded shares of Transocean from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Royal Bank Of Canada lifted their target price on shares of Transocean from $11.00 to $13.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 14th. TheStreet downgraded shares of Transocean from a “c-” rating to a “d” rating in a research report on Friday, November 3rd. Jefferies Group LLC lifted their target price on shares of Transocean from $10.50 to $11.00 and gave the stock a “hold” rating in a research report on Friday, November 3rd. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $7.35 target price on shares of Transocean in a research report on Sunday, October 22nd. Ten analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $12.31.
Shares of Transocean Ltd. (RIG) traded up $0.11 during mid-day trading on Tuesday, reaching $10.28. 3,750,228 shares of the company were exchanged, compared to its average volume of 14,032,676. Transocean Ltd. has a fifty-two week low of $7.20 and a fifty-two week high of $16.66. The company has a market capitalization of $3,980.00, a price-to-earnings ratio of 12.94 and a beta of 1.81. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.36 and a quick ratio of 2.13.
Transocean (NYSE:RIG) last announced its earnings results on Wednesday, November 1st. The offshore drilling services provider reported $0.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.20. Transocean had a negative net margin of 84.09% and a positive return on equity of 2.10%. The business had revenue of $808.00 million for the quarter, compared to analyst estimates of $703.13 million. During the same quarter in the previous year, the firm posted $0.25 earnings per share. Transocean’s revenue was down 10.8% compared to the same quarter last year. equities analysts anticipate that Transocean Ltd. will post -0.32 EPS for the current fiscal year.
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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