DRW Securities LLC Takes $107,000 Position in Transocean Ltd. (NYSE:RIG)

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

A number of other institutional investors have also added to or reduced their stakes in RIG. Vanguard Group Inc. grew its position in shares of Transocean by 1.2% in 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 acquiring an additional 931,684 shares during the period. State Street Corp grew its holdings in 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 worth $83,275,000 after purchasing an additional 1,944,723 shares during the period. American Century Companies Inc. increased its position in Transocean by 51.5% during the fourth quarter. American Century Companies Inc. now owns 19,257,437 shares of the offshore drilling services provider’s stock worth $72,215,000 after buying an additional 6,542,271 shares during the last quarter. Geode Capital Management LLC raised its stake in Transocean by 4.1% in the third quarter. Geode Capital Management LLC now owns 17,245,298 shares of the offshore drilling services provider’s stock valued at $73,307,000 after buying an additional 680,242 shares during the period. Finally, Van ECK Associates Corp lifted its position in shares of Transocean by 33.9% in the fourth 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 buying an additional 3,895,880 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Transocean Stock Performance

NYSE RIG opened at $2.25 on Friday. Transocean Ltd. has a 12-month low of $1.97 and a 12-month high of $6.45. The firm has a 50-day moving average price of $3.08 and a two-hundred day moving average price of $3.75. The company has a market capitalization of $1.98 billion, a P/E ratio of -3.08, a P/E/G ratio of 0.86 and a beta of 2.29. The company has a quick ratio of 1.34, a current ratio of 1.47 and a debt-to-equity ratio of 0.60.

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 company had revenue of $952.00 million for the quarter, compared to analyst estimates of $962.28 million. Transocean had a negative return on equity of 0.52% and a negative net margin of 14.53%. Analysts anticipate that Transocean Ltd. will post 0.14 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Roderick James Mackenzie sold 22,000 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 313,072 shares of the company’s stock, valued at approximately $1,205,327.20. This represents a 6.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 13.16% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on RIG shares. Morgan Stanley decreased their target price on Transocean from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Thursday, March 27th. TD Cowen dropped their price objective on shares of Transocean from $6.50 to $5.50 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Barclays cut their target price on shares of Transocean from $4.00 to $3.50 and set an “overweight” rating for the company in a research note on Monday, April 7th. SEB Equity Research set a $2.80 price target on shares of Transocean in a research note on Wednesday, March 5th. Finally, Evercore ISI downgraded shares of Transocean from an “outperform” rating to an “in-line” rating and cut their price objective for the stock from $6.00 to $5.00 in a research report on Wednesday, January 15th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $4.98.

About Transocean

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.