Transocean Ltd. $RIG Stock Position Lifted by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC boosted its stake in shares of Transocean Ltd. (NYSE:RIG) by 426.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,523,548 shares of the offshore drilling services provider’s stock after acquiring an additional 2,044,544 shares during the period. Brandywine Global Investment Management LLC’s holdings in Transocean were worth $10,422,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Transocean by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 97,006,263 shares of the offshore drilling services provider’s stock valued at $400,636,000 after purchasing an additional 2,487,015 shares in the last quarter. American Century Companies Inc. grew its position in Transocean by 12.8% during the third quarter. American Century Companies Inc. now owns 26,456,554 shares of the offshore drilling services provider’s stock valued at $82,544,000 after purchasing an additional 3,006,786 shares in the last quarter. Dalal Street LLC purchased a new position in Transocean during the third quarter valued at approximately $76,260,000. Geode Capital Management LLC grew its position in Transocean by 7.1% during the fourth quarter. Geode Capital Management LLC now owns 22,797,180 shares of the offshore drilling services provider’s stock valued at $94,168,000 after purchasing an additional 1,515,893 shares in the last quarter. Finally, Two Sigma Investments LP grew its position in Transocean by 0.3% during the third quarter. Two Sigma Investments LP now owns 18,636,188 shares of the offshore drilling services provider’s stock valued at $58,145,000 after purchasing an additional 64,305 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Transocean Stock Performance

RIG stock opened at $5.88 on Wednesday. The company has a quick ratio of 1.20, a current ratio of 1.54 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $6.56 billion, a price-to-earnings ratio of -1.97 and a beta of 1.28. Transocean Ltd. has a 12 month low of $2.51 and a 12 month high of $7.66. The firm has a 50 day moving average of $6.48 and a two-hundred day moving average of $5.59.

Transocean (NYSE:RIG) last posted its earnings results on Monday, May 4th. The offshore drilling services provider reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.10). The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.02 billion. Transocean had a positive return on equity of 0.88% and a negative net margin of 66.79%.The business’s revenue was up 19.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.10) earnings per share. As a group, equities analysts anticipate that Transocean Ltd. will post 0.17 EPS for the current fiscal year.

Analyst Ratings Changes

RIG has been the topic of a number of research analyst reports. Barclays raised shares of Transocean from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $6.00 to $8.00 in a research report on Thursday, May 7th. Fearnley Fonds downgraded shares of Transocean from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 10th. Clarkson Capital downgraded shares of Transocean from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 19th. Pareto Securities downgraded shares of Transocean from a “hold” rating to a “sell” rating and set a $5.25 target price for the company. in a research report on Tuesday, February 10th. Finally, Susquehanna boosted their target price on shares of Transocean from $7.50 to $8.00 and gave the stock a “positive” rating in a research report on Tuesday, April 7th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.96.

Transocean 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.