Schwab Charles Investment Management Inc. raised its stake in Transocean LTD (NYSE:RIG) by 5.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,080,986 shares of the offshore drilling services provider’s stock after buying an additional 152,397 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.67% of Transocean worth $41,409,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Blue Chip Wealth Management Inc. purchased a new position in Transocean during the 1st quarter worth approximately $103,000. Marathon Trading Investment Management LLC grew its position in Transocean by 136.9% during the 1st quarter. Marathon Trading Investment Management LLC now owns 11,058 shares of the offshore drilling services provider’s stock worth $109,000 after purchasing an additional 41,058 shares in the last quarter. Quantitative Systematic Strategies LLC purchased a new position in Transocean during the 1st quarter worth approximately $135,000. United Capital Financial Advisers LLC purchased a new position in Transocean during the 1st quarter worth approximately $150,000. Finally, Element Capital Management LLC purchased a new position in Transocean during the 1st quarter worth approximately $192,000. Hedge funds and other institutional investors own 70.75% of the company’s stock.
Several equities analysts have weighed in on the stock. Piper Jaffray Companies reiterated a “hold” rating and set a $13.20 price objective on shares of Transocean in a research report on Wednesday, August 1st. BMO Capital Markets reiterated a “sell” rating and set a $8.00 price objective on shares of Transocean in a research report on Friday, August 10th. Citigroup lowered their price objective on shares of Transocean from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, June 21st. Fearnley Fonds cut shares of Transocean from a “buy” rating to an “accumulate” rating in a research report on Wednesday, August 1st. Finally, Barclays boosted their price target on shares of Transocean from $7.00 to $8.00 and gave the company an “underweight” rating in a report on Thursday, August 9th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $12.62.
In other Transocean news, Director Vincent J. Intrieri acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 16th. The stock was purchased at an average cost of $10.62 per share, for a total transaction of $106,200.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $106,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.33% of the company’s stock.
Transocean stock opened at $12.20 on Thursday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.35 and a current ratio of 1.49. Transocean LTD has a 12 month low of $7.87 and a 12 month high of $14.34.
Transocean (NYSE:RIG) last posted its quarterly earnings results on Monday, July 30th. The offshore drilling services provider reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.13. Transocean had a negative net margin of 99.38% and a negative return on equity of 2.00%. The business had revenue of $790.00 million for the quarter, compared to analysts’ expectations of $768.68 million. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. equities research analysts forecast that Transocean LTD will post -0.91 earnings per share for the current year.
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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