DRW Securities LLC Takes Position in Transocean Ltd. (NYSE:RIG)

DRW Securities LLC acquired a new position in Transocean Ltd. (NYSE:RIG) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 28,630 shares of the offshore drilling services provider’s stock, valued at approximately $107,000.

Several other large investors have also recently bought and sold shares of the company. Twin Tree Management LP bought a new stake in shares of Transocean during the fourth quarter worth $27,000. Blue Trust Inc. increased its position in Transocean by 96.2% in the fourth quarter. Blue Trust Inc. now owns 9,841 shares of the offshore drilling services provider’s stock worth $37,000 after purchasing an additional 4,826 shares during the period. Adero Partners LLC bought a new stake in Transocean during the 4th quarter worth about $38,000. Stratos Wealth Partners LTD. acquired a new position in Transocean during the 4th quarter valued at about $40,000. Finally, R Squared Ltd bought a new position in shares of Transocean in the 4th quarter valued at about $41,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Transocean Price Performance

Shares of RIG opened at $2.25 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.34 and a current ratio of 1.47. The firm has a market capitalization of $1.98 billion, a PE ratio of -3.08, a P/E/G ratio of 0.86 and a beta of 2.29. The stock has a 50 day simple moving average of $3.08 and a 200 day simple moving average of $3.75. Transocean Ltd. has a 52-week low of $1.97 and a 52-week high of $6.45.

Transocean (NYSE:RIG) last released 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 net margin of 14.53% and a negative return on equity of 0.52%. The company had revenue of $952.00 million during the quarter, compared to analyst estimates of $962.28 million. Sell-side analysts predict that Transocean Ltd. will post 0.14 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on RIG. Morgan Stanley dropped their price target on shares of Transocean from $5.00 to $4.00 and set an “equal weight” rating for the company in a research note on Thursday, March 27th. SEB Equity Research set a $2.80 price target on Transocean in a research note on Wednesday, March 5th. Citigroup decreased their price objective on Transocean from $4.50 to $3.50 and set a “neutral” rating for the company in a research note on Wednesday, March 19th. Barclays cut their target price on Transocean from $4.00 to $3.50 and set an “overweight” rating on the stock in a research note on Monday, April 7th. Finally, Evercore ISI lowered Transocean from an “outperform” rating to an “in-line” rating and decreased their target price for the stock from $6.00 to $5.00 in a research report on Wednesday, January 15th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Transocean presently has an average rating of “Hold” and a consensus target price of $4.98.

Insiders Place Their Bets

In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $3.85, for a total transaction of $84,700.00. Following the completion of the transaction, the executive vice president now owns 313,072 shares of the company’s stock, valued at $1,205,327.20. This represents a 6.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 13.16% of the company’s stock.

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.