Transocean Ltd. (NYSE:RIG) Shares Bought by Huntington National Bank

Huntington National Bank grew its position in Transocean Ltd. (NYSE:RIG) by 3,790.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 40,300 shares of the offshore drilling services provider’s stock after purchasing an additional 39,264 shares during the period. Huntington National Bank’s holdings in Transocean were worth $151,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the business. Vanguard Group Inc. increased its position in Transocean by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 78,811,863 shares of the offshore drilling services provider’s stock valued at $295,544,000 after buying an additional 931,684 shares in the last quarter. State Street Corp increased its holdings in shares of Transocean by 11.0% during the third quarter. State Street Corp now owns 19,594,121 shares of the offshore drilling services provider’s stock valued at $83,275,000 after acquiring an additional 1,944,723 shares in the last quarter. American Century Companies Inc. boosted its stake in Transocean by 51.5% in the 4th quarter. American Century Companies Inc. now owns 19,257,437 shares of the offshore drilling services provider’s stock worth $72,215,000 after purchasing an additional 6,542,271 shares in the last quarter. Geode Capital Management LLC grew its position in Transocean by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 17,245,298 shares of the offshore drilling services provider’s stock worth $73,307,000 after purchasing an additional 680,242 shares during the last quarter. Finally, Van ECK Associates Corp increased its stake in Transocean by 33.9% during the 4th quarter. Van ECK Associates Corp now owns 15,393,873 shares of the offshore drilling services provider’s stock valued at $57,727,000 after purchasing an additional 3,895,880 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Roderick James Mackenzie sold 22,000 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were 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 in the company, valued at $1,205,327.20. This represents a 6.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 12.54% of the company’s stock.

Wall Street Analyst Weigh In

RIG has been the subject of several research reports. Citigroup lowered their price objective on shares of Transocean from $4.50 to $3.50 and set a “neutral” rating for the company in a research note on Wednesday, March 19th. SEB Equity Research set a $2.80 price target on Transocean in a research note on Wednesday, March 5th. TD Cowen reduced their price objective on Transocean from $6.50 to $5.50 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Morgan Stanley dropped their target price on Transocean from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 27th. Finally, Barclays reduced their price target on shares of Transocean from $4.50 to $4.00 and set an “overweight” rating for the company in a research report on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Transocean has a consensus rating of “Hold” and a consensus target price of $5.03.

Transocean Trading Down 21.1 %

Shares of Transocean stock opened at $2.15 on Friday. Transocean Ltd. has a fifty-two week low of $2.11 and a fifty-two week high of $6.88. 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 company has a market cap of $1.89 billion, a P/E ratio of -2.94, a price-to-earnings-growth ratio of 0.86 and a beta of 2.72. The firm has a 50-day simple moving average of $3.30 and a two-hundred day simple moving average of $3.85.

Transocean (NYSE:RIG) last issued its quarterly earnings results on Monday, February 17th. The offshore drilling services provider reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.11). The business had revenue of $952.00 million for the quarter, compared to analysts’ expectations of $962.28 million. Transocean had a negative return on equity of 0.52% and a negative net margin of 14.53%. As a group, equities analysts predict that Transocean Ltd. will post 0.14 earnings per share for the current fiscal year.

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.