3,993,676 Shares in Transocean Ltd. (NYSE:RIG) Bought by SIR Capital Management L.P.

SIR Capital Management L.P. purchased a new stake in shares of Transocean Ltd. (NYSE:RIG) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,993,676 shares of the offshore drilling services provider’s stock, valued at approximately $14,976,000. Transocean comprises about 1.6% of SIR Capital Management L.P.’s portfolio, making the stock its 24th biggest holding. SIR Capital Management L.P. owned about 0.46% of Transocean as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. American Century Companies Inc. raised its holdings in shares of 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 valued at $72,215,000 after purchasing an additional 6,542,271 shares during the period. Renaissance Technologies LLC bought a new position in shares of Transocean in the fourth quarter valued at $16,608,000. Van ECK Associates Corp increased its position in shares of Transocean by 33.9% during the fourth 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. Madison Investment Advisors LLC acquired a new stake in shares of Transocean in the 4th quarter worth about $11,156,000. Finally, Kettle Hill Capital Management LLC boosted its stake in Transocean by 85.7% during the 4th quarter. Kettle Hill Capital Management LLC now owns 4,812,608 shares of the offshore drilling services provider’s stock valued at $18,047,000 after purchasing an additional 2,221,186 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Roderick James Mackenzie sold 22,000 shares of the business’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $2.78, for a total value of $61,160.00. Following the completion of the sale, the executive vice president now owns 340,841 shares of the company’s stock, valued at approximately $947,537.98. The trade was a 6.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 12.27% of the company’s stock.

Wall Street Analysts Forecast Growth

RIG has been the topic of several analyst reports. BTIG Research set a $5.00 target price on Transocean and gave the company a “buy” rating in a research report on Monday, May 5th. SEB Equity Research set a $2.80 target price on Transocean in a report on Wednesday, March 5th. Susquehanna decreased their target price on Transocean from $5.00 to $4.00 and set a “positive” rating for the company in a research report on Monday, April 14th. Morgan Stanley decreased their price target on shares of Transocean from $5.00 to $4.00 and set an “equal weight” rating for the company in a research note on Thursday, March 27th. Finally, Citigroup dropped their price target on Transocean from $4.50 to $3.50 and set a “neutral” rating on the stock in a research report on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $4.63.

Transocean Stock Down 4.3%

Shares of NYSE:RIG opened at $2.66 on Friday. The company has a market cap of $2.35 billion, a price-to-earnings ratio of -3.64, a PEG ratio of 0.86 and a beta of 2.52. Transocean Ltd. has a one year low of $1.97 and a one year high of $6.38. The firm has a fifty day moving average price of $2.61 and a two-hundred day moving average price of $3.43. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.47 and a quick ratio of 1.34.

Transocean (NYSE:RIG) last posted its quarterly earnings data on Monday, April 28th. The offshore drilling services provider reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.02. Transocean had a negative net margin of 14.53% and a negative return on equity of 0.52%. The company had revenue of $906.00 million for the quarter, compared to analysts’ expectations of $884.92 million. During the same period in the prior year, the business earned ($0.03) earnings per share. Transocean’s revenue for the quarter was up 18.7% compared to the same quarter last year. Analysts anticipate that Transocean Ltd. will post 0.14 EPS for the current fiscal year.

Transocean 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.