Transocean LTD (RIG) Stake Decreased by Schroder Investment Management Group
Schroder Investment Management Group decreased its holdings in Transocean LTD (NYSE:RIG) by 40.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,556,500 shares of the offshore drilling services provider’s stock after selling 1,072,800 shares during the period. Schroder Investment Management Group’s holdings in Transocean were worth $20,857,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of RIG. Platinum Investment Management Ltd. purchased a new stake in shares of Transocean in the first quarter worth about $47,837,000. FMR LLC lifted its position in shares of Transocean by 1,255.1% in the second quarter. FMR LLC now owns 5,103,811 shares of the offshore drilling services provider’s stock worth $68,595,000 after buying an additional 4,727,168 shares in the last quarter. BlackRock Inc. lifted its position in shares of Transocean by 11.5% in the first quarter. BlackRock Inc. now owns 39,497,237 shares of the offshore drilling services provider’s stock worth $391,023,000 after buying an additional 4,076,783 shares in the last quarter. Elephas Investment Management Ltd purchased a new stake in shares of Transocean in the second quarter worth about $52,095,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Transocean by 15.5% in the first quarter. Dimensional Fund Advisors LP now owns 11,012,549 shares of the offshore drilling services provider’s stock worth $109,024,000 after buying an additional 1,478,859 shares in the last quarter. Institutional investors own 70.74% of the company’s stock.
Shares of RIG stock opened at $13.78 on Tuesday. Transocean LTD has a 1 year low of $8.70 and a 1 year high of $14.34. The company has a current ratio of 1.49, a quick ratio of 1.35 and a debt-to-equity ratio of 0.63. The company has a market cap of $6.25 billion, a price-to-earnings ratio of -229.67 and a beta of 1.49.
In related news, Director Vincent J. Intrieri acquired 10,000 shares of the firm’s stock in a transaction on Thursday, August 16th. The shares were acquired at an average cost of $10.62 per share, for a total transaction of $106,200.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $106,200. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 14.09% of the company’s stock.
A number of research firms recently commented on RIG. ValuEngine downgraded Transocean from a “buy” rating to a “hold” rating in a research report on Monday, September 10th. Piper Jaffray Companies reiterated a “hold” rating and issued a $13.20 target price on shares of Transocean in a research report on Wednesday, August 1st. Citigroup decreased their target price on Transocean from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, June 21st. BMO Capital Markets reiterated a “sell” rating and issued a $8.00 target price on shares of Transocean in a research report on Friday, August 10th. Finally, BTIG Research began coverage on Transocean in a research report on Monday, September 17th. They issued a “buy” rating and a $18.00 target price on the stock. Three analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $13.29.
Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. The company primarily offers deepwater and harsh environment drilling services. As of February 20, 2018, it owned or had partial ownership interests in, and operated 47 mobile offshore drilling units that consist of 27 ultra-deepwater floaters, 12 harsh environment floaters, 2 deepwater floaters, 6 midwater floaters, and 2 high-specification jackups.
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