Transocean Ltd. (NYSE:RIG) Shares Bought by American Century Companies Inc.

American Century Companies Inc. lifted its position in shares of Transocean Ltd. (NYSE:RIG) by 51.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 19,257,437 shares of the offshore drilling services provider’s stock after acquiring an additional 6,542,271 shares during the period. American Century Companies Inc.’s holdings in Transocean were worth $72,215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in RIG. Charles Schwab Investment Management Inc. boosted its position in Transocean by 7.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,465,534 shares of the offshore drilling services provider’s stock worth $46,746,000 after purchasing an additional 859,214 shares in the last quarter. Hosking Partners LLP lifted its position in shares of Transocean by 23.5% during the 4th quarter. Hosking Partners LLP now owns 1,706,143 shares of the offshore drilling services provider’s stock valued at $6,398,000 after buying an additional 324,955 shares in the last quarter. Geode Capital Management LLC grew its stake in Transocean by 4.1% in the 3rd 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 acquiring an additional 680,242 shares during the period. Van ECK Associates Corp increased its holdings in Transocean by 33.9% in the 4th quarter. Van ECK Associates Corp now owns 15,393,873 shares of the offshore drilling services provider’s stock worth $57,727,000 after acquiring an additional 3,895,880 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D raised its position in Transocean by 25.2% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 499,801 shares of the offshore drilling services provider’s stock worth $1,874,000 after acquiring an additional 100,691 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Transocean Stock Performance

NYSE:RIG opened at $3.14 on Wednesday. The company’s 50-day moving average is $3.46 and its two-hundred day moving average is $3.92. Transocean Ltd. has a 1-year low of $2.55 and a 1-year high of $6.88. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.47 and a quick ratio of 1.34. The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of -4.30, a PEG ratio of 0.86 and a beta of 2.72.

Transocean (NYSE:RIG) last issued 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 return on equity of 0.52% and a negative net margin of 14.53%. The business had revenue of $952.00 million during the quarter, compared to analysts’ expectations of $962.28 million. Analysts forecast that Transocean Ltd. will post 0.14 EPS for the current year.

Insider Transactions at Transocean

In related news, EVP Roderick James Mackenzie sold 22,000 shares of the 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 transaction, the executive vice president now owns 313,072 shares of the company’s stock, valued at approximately $1,205,327.20. This trade represents a 6.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 13.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RIG. Citigroup cut their target price 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. Barclays reduced their target price on Transocean from $4.50 to $4.00 and set an “overweight” rating for the company in a report on Tuesday, February 25th. Evercore ISI lowered Transocean from an “outperform” rating to an “in-line” rating and lowered their price target for the stock from $6.00 to $5.00 in a research note on Wednesday, January 15th. Benchmark reissued a “hold” rating on shares of Transocean in a research note on Tuesday, December 3rd. Finally, TD Cowen dropped their target price on shares of Transocean from $6.50 to $5.50 and set a “hold” rating for the company in a report on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $5.23.

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.