one8zero8 LLC Takes Position in Transocean Ltd. (NYSE:RIG)

one8zero8 LLC bought a new stake in Transocean Ltd. (NYSE:RIG) during the fourth quarter, Holdings Channel reports. The institutional investor bought 28,000 shares of the offshore drilling services provider’s stock, valued at approximately $105,000.

A number of other large investors also recently made changes to their positions in the business. Madison Investment Advisors LLC acquired a new position in shares of Transocean in the 4th quarter valued at about $11,156,000. Swiss National Bank increased its holdings in shares of Transocean by 0.9% in the 4th quarter. Swiss National Bank now owns 1,463,630 shares of the offshore drilling services provider’s stock valued at $5,489,000 after purchasing an additional 12,900 shares during the period. Avantax Advisory Services Inc. increased its holdings in shares of Transocean by 4.2% in the 4th quarter. Avantax Advisory Services Inc. now owns 107,012 shares of the offshore drilling services provider’s stock valued at $401,000 after purchasing an additional 4,285 shares during the period. Sequoia Financial Advisors LLC acquired a new position in shares of Transocean in the 4th quarter valued at about $44,000. Finally, Lane Generational LLC grew its stake in shares of Transocean by 36.2% in the 4th quarter. Lane Generational LLC now owns 1,044,629 shares of the offshore drilling services provider’s stock valued at $3,917,000 after buying an additional 277,552 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Activity

In other news, EVP Roderick James Mackenzie sold 22,000 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $3.85, for a total value of $84,700.00. Following the completion of the sale, the executive vice president now directly owns 313,072 shares of the company’s stock, valued at approximately $1,205,327.20. This represents a 6.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.16% of the stock is owned by company insiders.

Transocean Stock Up 4.1 %

Shares of Transocean stock opened at $3.17 on Tuesday. The stock has a market capitalization of $2.78 billion, a P/E ratio of -4.34, a PEG ratio of 0.86 and a beta of 2.72. The company has a quick ratio of 1.34, a current ratio of 1.47 and a debt-to-equity ratio of 0.60. The stock has a 50 day moving average price of $3.56 and a two-hundred day moving average price of $3.97. Transocean Ltd. has a 12-month low of $2.55 and a 12-month high of $6.88.

Transocean (NYSE:RIG) last posted its quarterly earnings data on Monday, February 17th. The offshore drilling services provider reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.11). Transocean had a negative net margin of 14.53% and a negative return on equity of 0.52%. The business had revenue of $952.00 million during the quarter, compared to the consensus estimate of $962.28 million. Equities analysts expect that Transocean Ltd. will post 0.14 earnings per share for the current year.

Analysts Set New Price Targets

RIG has been the subject of several recent research reports. TD Cowen lowered their price target on Transocean from $6.50 to $5.50 and set a “hold” rating for the company in a research note on Wednesday, January 8th. JPMorgan Chase & Co. raised Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 price target for the company in a research note on Friday, December 6th. Barclays lowered their price target on Transocean from $4.50 to $4.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. Evercore ISI cut Transocean from an “outperform” rating to an “in-line” rating and lowered their price target for the company from $6.00 to $5.00 in a research note on Wednesday, January 15th. Finally, Benchmark reissued a “hold” rating on shares of Transocean in a research note on Tuesday, December 3rd. Two research 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 data from MarketBeat.com, Transocean currently has a consensus rating of “Hold” and an average target price of $5.42.

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.