Trutina Financial LLC acquired a new stake in shares of Transocean Ltd. (NYSE:RIG) during the second quarter, Holdings Channel reports. The firm acquired 66,117 shares of the offshore drilling services provider’s stock, valued at approximately $786,000.

Several other institutional investors have also modified their holdings of RIG. Meiji Yasuda Asset Management Co Ltd. acquired a new position in shares of Transocean during the first quarter valued at about $108,000. Diversified Investment Strategies LLC raised its position in shares of Transocean by 3.9% in the first quarter. Diversified Investment Strategies LLC now owns 40,867 shares of the offshore drilling services provider’s stock valued at $374,000 after buying an additional 1,550 shares in the last quarter. BlackRock Japan Co. Ltd raised its position in shares of Transocean by 311.7% in the first quarter. BlackRock Japan Co. Ltd now owns 102,800 shares of the offshore drilling services provider’s stock valued at $940,000 after buying an additional 77,832 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Transocean by 15.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 6,421,951 shares of the offshore drilling services provider’s stock valued at $58,697,000 after buying an additional 839,942 shares in the last quarter. Finally, BlackRock Fund Advisors raised its position in shares of Transocean by 3.7% in the first quarter. BlackRock Fund Advisors now owns 3,332,717 shares of the offshore drilling services provider’s stock valued at $30,461,000 after buying an additional 119,934 shares in the last quarter. Institutional investors and hedge funds own 71.54% of the company’s stock.

Shares of Transocean Ltd. (NYSE:RIG) traded down 1.34% during mid-day trading on Tuesday, hitting $8.84. The stock had a trading volume of 17,238,828 shares. The stock has a market cap of $3.23 billion, a P/E ratio of 2.58 and a beta of 1.90. Transocean Ltd. has a 12 month low of $7.67 and a 12 month high of $17.19. The firm has a 50 day moving average price of $10.03 and a 200-day moving average price of $10.45.

Transocean (NYSE:RIG) last issued its quarterly earnings results on Wednesday, August 3rd. The offshore drilling services provider reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.18. Transocean had a return on equity of 8.46% and a net margin of 21.91%. The firm had revenue of $943 million for the quarter. During the same period in the prior year, the company earned $1.11 EPS. The firm’s quarterly revenue was down 49.9% on a year-over-year basis. On average, equities research analysts forecast that Transocean Ltd. will post $0.95 EPS for the current year.

Several equities analysts recently issued reports on the company. Zacks Investment Research upgraded Transocean from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Tuesday, July 5th. Wells Fargo & Co. upgraded Transocean from an “underperform” rating to a “market perform” rating and boosted their price objective for the company from $12.15 to $12.22 in a research report on Monday, July 18th. Seaport Global Securities lowered Transocean from a “neutral” rating to a “sell” rating and set a $10.00 price objective for the company. in a research report on Monday, July 11th. Credit Suisse Group AG reiterated a “sell” rating on shares of Transocean in a research report on Saturday, July 9th. Finally, Canaccord Genuity lowered Transocean from a “hold” rating to a “sell” rating and set a $8.50 price objective for the company. in a research report on Friday, July 8th. Eleven analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $10.11.

About Transocean

Transocean Ltd. is an international provider of offshore contract drilling services for oil and gas wells. The Company’s primary business is to contract its drilling rigs, related equipment and work crews primarily on a day rate basis to drill oil and gas wells. The Company operates through the contract drilling services segment.

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