Transocean LTD (RIG) Stake Decreased by Schroder Investment Management Group

Schroder Investment Management Group lowered its holdings in Transocean LTD (NYSE:RIG) by 40.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,556,500 shares of the offshore drilling services provider’s stock after selling 1,072,800 shares during the quarter. Schroder Investment Management Group owned 0.34% of Transocean worth $20,857,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Louisiana State Employees Retirement System grew its holdings in shares of Transocean by 3.5% in the second quarter. Louisiana State Employees Retirement System now owns 118,500 shares of the offshore drilling services provider’s stock worth $1,593,000 after acquiring an additional 4,000 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of Transocean by 12.2% in the first quarter. PNC Financial Services Group Inc. now owns 39,025 shares of the offshore drilling services provider’s stock worth $387,000 after acquiring an additional 4,243 shares during the period. NumerixS Investment Technologies Inc grew its holdings in shares of Transocean by 6.8% in the second quarter. NumerixS Investment Technologies Inc now owns 75,948 shares of the offshore drilling services provider’s stock worth $1,018,000 after acquiring an additional 4,848 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Transocean by 5.9% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 93,379 shares of the offshore drilling services provider’s stock worth $1,255,000 after acquiring an additional 5,201 shares during the period. Finally, State of Wisconsin Investment Board grew its holdings in shares of Transocean by 6.9% in the first quarter. State of Wisconsin Investment Board now owns 86,068 shares of the offshore drilling services provider’s stock worth $852,000 after acquiring an additional 5,533 shares during the period. Hedge funds and other institutional investors own 70.74% of the company’s stock.

Several analysts recently commented on the company. Fearnley Fonds lowered Transocean from a “buy” rating to an “accumulate” rating in a report on Wednesday, August 1st. Tudor Pickering raised Transocean from a “hold” rating to a “buy” rating in a report on Thursday, July 12th. ValuEngine raised Transocean from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 7th. Citigroup cut their price objective on Transocean from $16.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, June 21st. Finally, Wells Fargo & Co raised Transocean from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $13.00 to $16.00 in a report on Wednesday, September 19th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $13.29.

NYSE:RIG opened at $13.78 on Tuesday. Transocean LTD has a 52-week low of $8.70 and a 52-week high of $14.34. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.49 and a quick ratio of 1.35. The stock has a market cap of $6.25 billion, a price-to-earnings ratio of -229.67 and a beta of 1.49.

Transocean (NYSE:RIG) last released its quarterly earnings results on Monday, July 30th. The offshore drilling services provider reported ($0.04) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.13. Transocean had a negative return on equity of 2.00% and a negative net margin of 99.38%. The business had revenue of $790.00 million during the quarter, compared to analyst estimates of $768.68 million. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. equities research analysts predict that Transocean LTD will post -0.85 EPS for the current year.

In related news, Director Vincent J. Intrieri purchased 10,000 shares of the business’s stock in a transaction on Thursday, August 16th. The stock was acquired at an average price of $10.62 per share, with a total value of $106,200.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $106,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 14.09% of the company’s stock.

About Transocean

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. The company primarily offers deepwater and harsh environment drilling services. As of February 20, 2018, it owned or had partial ownership interests in, and operated 47 mobile offshore drilling units that consist of 27 ultra-deepwater floaters, 12 harsh environment floaters, 2 deepwater floaters, 6 midwater floaters, and 2 high-specification jackups.

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Institutional Ownership by Quarter for Transocean (NYSE:RIG)

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