First Trust Advisors LP raised its stake in Transocean Ltd. (NYSE:RIG) by 29.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,613,054 shares of the offshore drilling services provider’s stock after buying an additional 370,203 shares during the period. First Trust Advisors LP owned about 0.41% of Transocean worth $17,356,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. boosted its position in Transocean by 12.1% in the 2nd quarter. BlackRock Inc. now owns 25,538,929 shares of the offshore drilling services provider’s stock valued at $210,185,000 after buying an additional 2,756,207 shares during the period. State Street Corp raised its holdings in shares of Transocean by 7.5% in the 2nd quarter. State Street Corp now owns 22,918,962 shares of the offshore drilling services provider’s stock valued at $188,616,000 after purchasing an additional 1,593,179 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Transocean by 1.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 12,593,894 shares of the offshore drilling services provider’s stock valued at $103,650,000 after purchasing an additional 210,390 shares in the last quarter. Contrarius Investment Management Ltd raised its holdings in shares of Transocean by 96.8% in the 2nd quarter. Contrarius Investment Management Ltd now owns 9,740,030 shares of the offshore drilling services provider’s stock valued at $80,160,000 after purchasing an additional 4,790,469 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC raised its holdings in shares of Transocean by 129.6% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 6,299,461 shares of the offshore drilling services provider’s stock valued at $51,844,000 after purchasing an additional 3,556,281 shares in the last quarter. 68.88% of the stock is owned by institutional investors.

In related news, CAO Howard E. Davis acquired 40,000 shares of Transocean stock in a transaction on Thursday, August 17th. The stock was bought at an average cost of $7.32 per share, for a total transaction of $292,800.00. Following the completion of the transaction, the chief accounting officer now owns 21,793 shares of the company’s stock, valued at approximately $159,524.76. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Shares of Transocean Ltd. (RIG) opened at $10.88 on Monday. Transocean Ltd. has a twelve month low of $7.20 and a twelve month high of $16.66. The stock has a market cap of $4,256.40, a price-to-earnings ratio of 13.60 and a beta of 1.81. The company has a current ratio of 2.36, a quick ratio of 2.13 and a debt-to-equity ratio of 0.51.

Transocean (NYSE:RIG) last announced its quarterly earnings results on Wednesday, November 1st. The offshore drilling services provider reported $0.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.20. Transocean had a negative net margin of 84.09% and a positive return on equity of 2.10%. The firm had revenue of $808.00 million for the quarter, compared to the consensus estimate of $703.13 million. During the same period in the prior year, the firm posted $0.25 earnings per share. The firm’s quarterly revenue was down 10.8% compared to the same quarter last year. analysts anticipate that Transocean Ltd. will post -0.29 EPS for the current fiscal year.

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Several research firms have recently commented on RIG. Jefferies Group LLC set a $9.00 price target on shares of Transocean and gave the company a “hold” rating in a report on Wednesday, August 16th. Nomura reduced their price target on shares of Transocean from $8.00 to $7.00 and set a “reduce” rating for the company in a report on Thursday, August 17th. Pareto Securities upgraded shares of Transocean from a “hold” rating to a “buy” rating in a report on Friday, August 18th. ValuEngine upgraded shares of Transocean from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $11.00 price target on shares of Transocean in a report on Friday, September 1st. Ten investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and sixteen have assigned a buy rating to the stock. Transocean presently has an average rating of “Hold” and an average target price of $12.25.

Transocean Profile

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 on a dayrate basis to drill oil and gas wells. As of February 9, 2017, it owned or had partial ownership interests in and operated 56 mobile offshore drilling units.

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Institutional Ownership by Quarter for Transocean (NYSE:RIG)

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