Keybank National Association OH Acquires 43,155 Shares of Transocean Ltd. (NYSE:RIG)

Keybank National Association OH lifted its holdings in Transocean Ltd. (NYSE:RIG) by 0.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,807,393 shares of the offshore drilling services provider’s stock after acquiring an additional 43,155 shares during the period. Keybank National Association OH’s holdings in Transocean were worth $44,278,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in RIG. Pilgrim Global Advisors LLC bought a new position in shares of Transocean in the 3rd quarter valued at about $77,473,000. Van ECK Associates Corp boosted its stake in 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 acquiring an additional 3,895,880 shares in the last quarter. Kailix Advisors LLC lifted its stake in shares of Transocean by 59.9% during the third quarter. Kailix Advisors LLC now owns 6,620,451 shares of the offshore drilling services provider’s stock worth $28,137,000 after buying an additional 2,481,059 shares during the period. Point72 Europe London LLP purchased a new position in Transocean in the third quarter valued at $8,935,000. Finally, State Street Corp boosted its stake in shares of Transocean by 11.0% during the 3rd quarter. State Street Corp now owns 19,594,121 shares of the offshore drilling services provider’s stock worth $83,275,000 after acquiring an additional 1,944,723 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Transocean Stock Down 9.5 %

RIG stock opened at $2.67 on Tuesday. 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 Ltd. has a fifty-two week low of $2.65 and a fifty-two week high of $6.88. The firm’s 50-day simple moving average is $3.72 and its 200 day simple moving average is $4.11. The stock has a market cap of $2.35 billion, a PE ratio of -3.66, a price-to-earnings-growth ratio of 0.86 and a beta of 2.70.

Transocean (NYSE:RIG) last released its earnings results on Monday, February 17th. The offshore drilling services provider reported ($0.09) EPS for the quarter, missing the consensus estimate 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 net margin of 14.53% and a negative return on equity of 0.52%. As a group, sell-side analysts predict that Transocean Ltd. will post 0.14 EPS for the current year.

Wall Street Analyst Weigh In

RIG has been the subject of several recent analyst reports. TD Cowen cut their price objective on shares of Transocean from $6.50 to $5.50 and set a “hold” rating for the company in a research report on Wednesday, January 8th. JPMorgan Chase & Co. upgraded shares of Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 price target for the company in a report on Friday, December 6th. Benchmark restated a “hold” rating on shares of Transocean in a report on Tuesday, December 3rd. Barclays cut their price target on shares of Transocean from $4.50 to $4.00 and set an “overweight” rating for the company in a report on Tuesday, February 25th. Finally, Evercore ISI cut shares of Transocean from an “outperform” rating to an “in-line” rating and lowered their price objective 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 assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $5.75.

Insider Buying and Selling at Transocean

In other news, EVP Roderick James Mackenzie sold 22,000 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $4.05, for a total transaction of $89,100.00. Following the completion of the transaction, the executive vice president now owns 229,596 shares in the company, valued at approximately $929,863.80. This trade represents a 8.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 13.16% of the stock is owned by corporate insiders.

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.