Transocean Ltd. (NYSE:RIG) Shares Sold by Ipswich Investment Management Co. Inc.

Ipswich Investment Management Co. Inc. cut its holdings in shares of Transocean Ltd. (NYSE:RIG) by 18.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,500 shares of the offshore drilling services provider’s stock after selling 3,300 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in Transocean were worth $92,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Transocean by 9.4% during the third quarter. Vanguard Group Inc. now owns 60,315,980 shares of the offshore drilling services provider’s stock worth $148,981,000 after purchasing an additional 5,165,717 shares in the last quarter. BlackRock Inc. increased its position in shares of Transocean by 64.4% during the first quarter. BlackRock Inc. now owns 27,992,307 shares of the offshore drilling services provider’s stock worth $178,031,000 after purchasing an additional 10,962,276 shares in the last quarter. Morgan Stanley increased its position in shares of Transocean by 60.7% during the fourth quarter. Morgan Stanley now owns 18,330,357 shares of the offshore drilling services provider’s stock worth $83,586,000 after purchasing an additional 6,925,085 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Transocean by 4.3% during the first quarter. Dimensional Fund Advisors LP now owns 12,924,313 shares of the offshore drilling services provider’s stock worth $59,071,000 after purchasing an additional 535,577 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Transocean by 95.2% during the first quarter. Renaissance Technologies LLC now owns 11,892,498 shares of the offshore drilling services provider’s stock worth $75,637,000 after purchasing an additional 5,800,435 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Transocean Price Performance

Shares of RIG stock traded up $0.12 during mid-day trading on Friday, hitting $5.67. 16,183,946 shares of the stock were exchanged, compared to its average volume of 17,893,560. The firm has a fifty day moving average of $5.64 and a 200 day moving average of $6.08. The company has a quick ratio of 1.22, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. Transocean Ltd. has a 52-week low of $4.45 and a 52-week high of $8.88. The company has a market cap of $4.65 billion, a PE ratio of -4.46 and a beta of 2.78.

Transocean (NYSE:RIG) last posted its earnings results on Monday, February 19th. The offshore drilling services provider reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.12. Transocean had a negative net margin of 33.69% and a negative return on equity of 7.13%. The business had revenue of $741.00 million for the quarter, compared to analyst estimates of $779.17 million. During the same period in the prior year, the company posted ($0.49) EPS. Research analysts anticipate that Transocean Ltd. will post 0.02 earnings per share for the current year.

Wall Street Analysts Forecast Growth

RIG has been the topic of a number of research analyst reports. Barclays dropped their price objective on shares of Transocean from $7.00 to $6.00 and set an “equal weight” rating on the stock in a report on Thursday, February 22nd. Susquehanna raised shares of Transocean from a “neutral” rating to a “positive” rating and boosted their price objective for the company from $5.50 to $9.00 in a report on Monday, April 8th. Citigroup lowered their price target on shares of Transocean from $9.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, February 21st. Bank of America upped their price target on shares of Transocean from $5.50 to $6.00 and gave the company an “underperform” rating in a report on Monday, April 15th. Finally, StockNews.com raised shares of Transocean to a “sell” rating in a report on Tuesday, February 20th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.22.

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.