Transocean Ltd. $RIG Shares Bought by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. raised its holdings in Transocean Ltd. (NYSE:RIG) by 11,328.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 4,610,882 shares of the offshore drilling services provider’s stock after acquiring an additional 4,570,538 shares during the period. Jefferies Financial Group Inc. owned 0.42% of Transocean worth $19,043,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Transocean by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 97,006,263 shares of the offshore drilling services provider’s stock valued at $400,636,000 after acquiring an additional 2,487,015 shares during the last quarter. American Century Companies Inc. raised its holdings in Transocean by 12.8% in the 3rd quarter. American Century Companies Inc. now owns 26,456,554 shares of the offshore drilling services provider’s stock valued at $82,544,000 after acquiring an additional 3,006,786 shares during the last quarter. Dalal Street LLC acquired a new position in Transocean in the 3rd quarter valued at $76,260,000. Two Sigma Investments LP raised its holdings in Transocean by 0.3% in the 3rd quarter. Two Sigma Investments LP now owns 18,636,188 shares of the offshore drilling services provider’s stock valued at $58,145,000 after acquiring an additional 64,305 shares during the last quarter. Finally, Ghisallo Capital Management LLC acquired a new position in Transocean in the 3rd quarter valued at $57,720,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Transocean Stock Down 0.2%

Shares of NYSE RIG opened at $6.81 on Friday. Transocean Ltd. has a 52-week low of $2.34 and a 52-week high of $7.66. The firm has a fifty day moving average of $6.54 and a 200-day moving average of $5.39. The stock has a market capitalization of $7.60 billion, a PE ratio of -2.28 and a beta of 1.34. The company has a quick ratio of 1.20, a current ratio of 1.54 and a debt-to-equity ratio of 0.60.

Transocean (NYSE:RIG) last announced its quarterly earnings data on Monday, May 4th. The offshore drilling services provider reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.10). Transocean had a negative net margin of 66.79% and a positive return on equity of 0.88%. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the prior year, the firm earned ($0.10) earnings per share. The firm’s quarterly revenue was up 19.3% on a year-over-year basis. On average, analysts anticipate that Transocean Ltd. will post 0.19 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Roderick James Mackenzie sold 78,370 shares of the company’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $6.36, for a total transaction of $498,433.20. Following the completion of the sale, the executive vice president directly owned 268,025 shares of the company’s stock, valued at approximately $1,704,639. This represents a 22.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 9.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on RIG shares. Fearnley Fonds downgraded Transocean from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 10th. BTIG Research boosted their price objective on shares of Transocean from $6.00 to $10.00 and gave the company a “buy” rating in a research note on Monday, February 9th. Barclays raised shares of Transocean from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $6.00 to $8.00 in a research note on Thursday, May 7th. Susquehanna boosted their price objective on shares of Transocean from $7.50 to $8.00 and gave the company a “positive” rating in a research note on Tuesday, April 7th. Finally, Morgan Stanley boosted their price objective on shares of Transocean from $5.00 to $7.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 15th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $6.96.

Transocean Company Profile

Transocean Ltd. is a leading international provider of offshore contract drilling services for the oil and gas industry. The company specializes in the operation of mobile drilling units, including ultra-deepwater drillships, semisubmersible rigs and high-specification jackup rigs. Transocean’s fleet is designed to meet complex drilling requirements, from ultra-deepwater well construction to shelf exploration and development projects.

The company’s core services encompass the full spectrum of offshore drilling operations, including project and engineering management, marine operations, drilling supervision, and maintenance support.