Chesapeake Capital Corp IL Buys New Stake in Transocean Ltd. (NYSE:RIG)

Chesapeake Capital Corp IL bought a new position in shares of Transocean Ltd. (NYSE:RIGFree Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 23,812 shares of the offshore drilling services provider’s stock, valued at approximately $151,000.

A number of other hedge funds also recently bought and sold shares of the company. Primecap Management Co. CA increased its stake in shares of Transocean by 11.4% in the fourth quarter. Primecap Management Co. CA now owns 50,699,389 shares of the offshore drilling services provider’s stock worth $321,941,000 after purchasing an additional 5,168,000 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Transocean by 23.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 35,690,620 shares of the offshore drilling services provider’s stock worth $226,641,000 after buying an additional 6,719,483 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of Transocean by 11.3% in the fourth quarter. Van ECK Associates Corp now owns 15,908,217 shares of the offshore drilling services provider’s stock valued at $101,017,000 after acquiring an additional 1,616,690 shares during the period. American Century Companies Inc. grew its stake in shares of Transocean by 2.3% in the third quarter. American Century Companies Inc. now owns 10,875,136 shares of the offshore drilling services provider’s stock worth $89,285,000 after acquiring an additional 246,832 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Transocean by 20.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 7,852,752 shares of the offshore drilling services provider’s stock worth $64,471,000 after acquiring an additional 1,353,221 shares during the period. 67.73% of the stock is currently owned by institutional investors.

Transocean Stock Down 0.7 %

RIG stock traded down $0.04 during trading on Monday, hitting $5.77. 10,412,400 shares of the stock traded hands, compared to its average volume of 17,533,482. The company has a current ratio of 1.35, a quick ratio of 1.04 and a debt-to-equity ratio of 0.65. Transocean Ltd. has a one year low of $4.45 and a one year high of $8.88. The company has a 50 day simple moving average of $5.99 and a 200 day simple moving average of $5.82.

Transocean (NYSE:RIGGet Free Report) last announced its earnings results on Monday, April 29th. The offshore drilling services provider reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.10. Transocean had a negative return on equity of 4.67% and a negative net margin of 13.27%. The business had revenue of $767.00 million for the quarter, compared to the consensus estimate of $781.86 million. During the same period in the previous year, the business earned ($0.38) EPS. Transocean’s revenue was up 18.2% compared to the same quarter last year.

Analyst Ratings Changes

Several research analysts have recently issued reports on RIG shares. Susquehanna upgraded shares of Transocean from a “neutral” rating to a “positive” rating and boosted their price objective for the stock from $5.50 to $9.00 in a report on Monday, April 8th. Citigroup lowered their price target on Transocean from $9.00 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, February 21st. Bank of America raised their price objective on Transocean from $5.50 to $6.00 and gave the stock an “underperform” rating in a research report on Monday, April 15th. StockNews.com upgraded Transocean to a “sell” rating in a research report on Tuesday, February 20th. Finally, Barclays reduced their target price 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. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, Transocean currently has an average rating of “Hold” and an average price target of $7.70.

Check Out Our Latest Stock Report on Transocean

Insiders Place Their Bets

In other Transocean news, Director (Cyprus) Ltd Perestroika bought 2,000,000 shares of the stock in a transaction dated Wednesday, May 15th. The stock was bought at an average cost of $6.01 per share, for a total transaction of $12,020,000.00. Following the completion of the purchase, the director now owns 87,574,894 shares in the company, valued at approximately $526,325,112.94. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 12.54% of the company’s stock.

About Transocean

(Free Report)

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.

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Institutional Ownership by Quarter for Transocean (NYSE:RIG)

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