Transocean Ltd. (NYSE:RIG) Shares Acquired by Headlands Technologies LLC

Headlands Technologies LLC lifted its position in shares of Transocean Ltd. (NYSE:RIG) by 8,233.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 41,669 shares of the offshore drilling services provider’s stock after acquiring an additional 41,169 shares during the period. Headlands Technologies LLC’s holdings in Transocean were worth $265,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. National Bank of Canada FI increased its position in Transocean by 3,800.0% during the 3rd quarter. National Bank of Canada FI now owns 5,850 shares of the offshore drilling services provider’s stock worth $46,000 after purchasing an additional 5,700 shares in the last quarter. Private Trust Co. NA increased its position in Transocean by 1,489.8% during the 4th quarter. Private Trust Co. NA now owns 8,537 shares of the offshore drilling services provider’s stock worth $54,000 after purchasing an additional 8,000 shares in the last quarter. Csenge Advisory Group purchased a new stake in Transocean during the 3rd quarter worth about $83,000. Southern Capital Advisors LLC purchased a new stake in Transocean during the 4th quarter worth about $83,000. Finally, Joseph P. Lucia & Associates LLC purchased a new stake in Transocean during the 3rd quarter worth about $87,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Transocean Stock Up 2.3 %

RIG opened at $5.87 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.22. Transocean Ltd. has a 12 month low of $4.45 and a 12 month high of $8.88. The stock has a market capitalization of $4.81 billion, a price-to-earnings ratio of -4.62 and a beta of 2.78. The business has a 50-day moving average of $5.71 and a two-hundred day moving average of $6.01.

Transocean (NYSE:RIG) last issued its earnings results on Monday, February 19th. The offshore drilling services provider reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.12. Transocean had a negative return on equity of 7.13% and a negative net margin of 33.69%. The business had revenue of $741.00 million during the quarter, compared to analysts’ expectations of $779.17 million. During the same quarter in the previous year, the business earned ($0.49) EPS. On average, research analysts expect that Transocean Ltd. will post 0.05 earnings per share for the current year.

Wall Street Analyst Weigh In

RIG has been the subject of a number of recent research reports. Citigroup dropped their price objective on Transocean from $9.00 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, February 21st. Barclays dropped their price objective on Transocean from $7.00 to $6.00 and set an “equal weight” rating for the company in a research report on Thursday, February 22nd. Morgan Stanley dropped their price objective on Transocean from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Monday, February 26th. StockNews.com upgraded Transocean to a “sell” rating in a report on Tuesday, February 20th. Finally, Bank of America lifted their price target on Transocean from $5.50 to $6.00 and gave the company an “underperform” rating in a report on Monday, April 15th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Transocean presently has a consensus rating of “Hold” and an average target price of $8.22.

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.