Keybank National Association OH Acquires 405,804 Shares of Transocean Ltd. $RIG

Keybank National Association OH raised its holdings in shares of Transocean Ltd. (NYSE:RIG) by 3.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,656,881 shares of the offshore drilling services provider’s stock after purchasing an additional 405,804 shares during the period. Keybank National Association OH’s holdings in Transocean were worth $83,915,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Dalal Street LLC bought a new stake in shares of Transocean in the 3rd quarter worth approximately $76,260,000. Ghisallo Capital Management LLC bought a new position in shares of Transocean during the third quarter valued at approximately $57,720,000. Zimmer Partners LP purchased a new stake in Transocean in the third quarter worth $30,262,000. Barclays PLC lifted its stake in Transocean by 230.6% in the fourth quarter. Barclays PLC now owns 10,802,664 shares of the offshore drilling services provider’s stock worth $44,615,000 after acquiring an additional 7,535,041 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Transocean by 20.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 43,470,312 shares of the offshore drilling services provider’s stock valued at $179,531,000 after acquiring an additional 7,516,589 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on RIG shares. Morgan Stanley boosted their price objective on shares of Transocean from $5.00 to $7.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 15th. Susquehanna lifted their target price on shares of Transocean from $7.50 to $8.00 and gave the company a “positive” rating in a research note on Tuesday, April 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Transocean in a research report on Tuesday, April 21st. Barclays raised shares of Transocean from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $6.00 to $8.00 in a research note on Thursday, May 7th. Finally, Clarkson Capital lowered shares of Transocean from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 19th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Transocean presently has a consensus rating of “Hold” and an average target price of $6.96.

Transocean Trading Up 3.8%

NYSE RIG opened at $5.05 on Friday. Transocean Ltd. has a 12 month low of $2.53 and a 12 month high of $7.66. The company has a current ratio of 1.54, a quick ratio of 1.20 and a debt-to-equity ratio of 0.60. The stock’s fifty day moving average price is $6.13 and its 200-day moving average price is $5.72. The stock has a market cap of $5.64 billion, a P/E ratio of -1.70 and a beta of 1.30.

Transocean (NYSE:RIG) last released its quarterly earnings data on Monday, May 4th. The offshore drilling services provider reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.10). The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.02 billion. Transocean had a negative net margin of 66.79% and a positive return on equity of 0.88%. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.10) earnings per share. As a group, equities analysts forecast that Transocean Ltd. will post 0.16 EPS for the current fiscal year.

Key Headlines Impacting Transocean

Here are the key news stories impacting Transocean this week:

• Positive Sentiment: Transocean secured a conditional agreement with Equinor for three “Cat D” harsh-environment rigs, adding over $1 billion to backlog and strengthening future revenue visibility. MarketWatch article
• Positive Sentiment: Analysts at Zacks Research recently raised some longer-term earnings estimates for Transocean, reflecting improved expectations following the Equinor deal.
• Neutral Sentiment: The Equinor contract remains subject to license approvals, so the full benefit is not yet finalized.
• Negative Sentiment: Other Zacks updates trimmed near-term earnings estimates for 2026-2027, suggesting profitability may remain uneven before the new contract fully ramps.

Transocean Company Profile

Transocean Ltd. is a leading international provider of offshore contract drilling services for the oil and gas industry. The company specializes in the operation of mobile drilling units, including ultra-deepwater drillships, semisubmersible rigs and high-specification jackup rigs. Transocean’s fleet is designed to meet complex drilling requirements, from ultra-deepwater well construction to shelf exploration and development projects.

The company’s core services encompass the full spectrum of offshore drilling operations, including project and engineering management, marine operations, drilling supervision, and maintenance support.