Tudor Investment Corp ET AL Sells 2,143,380 Shares of Transocean Ltd. $RIG

Tudor Investment Corp ET AL lowered its position in shares of Transocean Ltd. (NYSE:RIG) by 50.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,124,988 shares of the offshore drilling services provider’s stock after selling 2,143,380 shares during the period. Tudor Investment Corp ET AL’s holdings in Transocean were worth $6,630,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Transocean by 19.3% during the third quarter. Vanguard Group Inc. now owns 94,519,248 shares of the offshore drilling services provider’s stock worth $294,900,000 after purchasing an additional 15,315,289 shares during the period. American Century Companies Inc. increased its stake in shares of Transocean by 12.8% during the third quarter. American Century Companies Inc. now owns 26,456,554 shares of the offshore drilling services provider’s stock worth $82,544,000 after purchasing an additional 3,006,786 shares during the period. Dalal Street LLC bought a new position in shares of Transocean during the third quarter worth approximately $76,260,000. Two Sigma Investments LP increased its stake in shares of Transocean by 0.3% during the third quarter. Two Sigma Investments LP now owns 18,636,188 shares of the offshore drilling services provider’s stock worth $58,145,000 after purchasing an additional 64,305 shares during the period. Finally, Ghisallo Capital Management LLC bought a new position in shares of Transocean during the third quarter worth approximately $57,720,000. Institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Pareto Securities lowered Transocean from a “hold” rating to a “sell” rating and set a $5.25 price objective on the stock. in a research note on Tuesday, February 10th. Barclays lowered Transocean from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $4.50 to $6.00 in a research note on Wednesday, February 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Transocean in a research note on Thursday, January 22nd. JPMorgan Chase & Co. restated an “underweight” rating on shares of Transocean in a research note on Wednesday, December 10th. Finally, Citigroup raised their price objective on Transocean from $4.25 to $4.50 and gave the stock a “neutral” rating in a research note on Thursday, December 11th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $6.46.

Insiders Place Their Bets

In other Transocean news, CEO Keelan Adamson sold 58,687 shares of the firm’s stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $5.00, for a total value of $293,435.00. Following the sale, the chief executive officer owned 1,222,182 shares of the company’s stock, valued at approximately $6,110,910. This trade represents a 4.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Roderick James Mackenzie sold 78,370 shares of the firm’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $6.36, for a total value of $498,433.20. Following the completion of the sale, the executive vice president directly owned 268,025 shares in the company, valued at approximately $1,704,639. This represents a 22.62% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 159,903 shares of company stock worth $906,098. Company insiders own 12.27% of the company’s stock.

Transocean Price Performance

Transocean stock opened at $6.69 on Wednesday. The stock’s fifty day moving average price is $6.15 and its two-hundred day moving average price is $4.73. Transocean Ltd. has a one year low of $2.03 and a one year high of $7.14. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.56 and a quick ratio of 1.27. The firm has a market cap of $7.40 billion, a PE ratio of -2.12 and a beta of 1.37.

Transocean (NYSE:RIG) last issued its earnings results on Friday, February 20th. The offshore drilling services provider reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.07). The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. Transocean had a negative net margin of 73.52% and a positive return on equity of 0.41%. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.09) EPS. As a group, research analysts expect that Transocean Ltd. will post 0.14 EPS for the current fiscal year.

Transocean 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.