Transocean Ltd. (NYSE:RIG) Shares Bought by Fisher Asset Management LLC

Fisher Asset Management LLC boosted its holdings in shares of Transocean Ltd. (NYSE:RIG) by 11.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,714 shares of the offshore drilling services provider’s stock after acquiring an additional 2,743 shares during the period. Fisher Asset Management LLC’s holdings in Transocean were worth $176,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new position in Transocean during the fourth quarter worth about $530,000. Orchard Capital Management LLC acquired a new position in Transocean during the fourth quarter worth about $109,000. Penn Capital Management Company LLC raised its position in shares of Transocean by 2.0% in the fourth quarter. Penn Capital Management Company LLC now owns 2,401,566 shares of the offshore drilling services provider’s stock valued at $15,300,000 after buying an additional 46,825 shares during the last quarter. Goehring & Rozencwajg Associates LLC raised its position in shares of Transocean by 3.4% in the fourth quarter. Goehring & Rozencwajg Associates LLC now owns 633,074 shares of the offshore drilling services provider’s stock valued at $4,020,000 after buying an additional 20,580 shares during the last quarter. Finally, Caas Capital Management LP acquired a new position in shares of Transocean in the fourth quarter valued at approximately $147,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Bank of America boosted their price objective on shares of Transocean from $5.50 to $6.00 and gave the company an “underperform” rating in a research report on Monday, April 15th. Evercore ISI lowered their target price on shares of Transocean from $9.00 to $7.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Benchmark reiterated a “buy” rating and set a $8.00 price objective on shares of Transocean in a research note on Tuesday, April 30th. Finally, Susquehanna upgraded shares of Transocean from a “neutral” rating to a “positive” rating and boosted their price objective for the stock from $5.50 to $9.00 in a research note on Monday, April 8th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $7.70.

Transocean Trading Down 1.8 %

NYSE RIG opened at $5.05 on Wednesday. The company’s fifty day simple moving average is $5.66 and its 200-day simple moving average is $5.70. Transocean Ltd. has a 52 week low of $4.45 and a 52 week high of $8.88. The company has a current ratio of 1.35, a quick ratio of 1.04 and a debt-to-equity ratio of 0.65. The stock has a market cap of $4.14 billion, a P/E ratio of -9.71 and a beta of 2.82.

Transocean (NYSE:RIG) last posted its earnings results on Monday, April 29th. The offshore drilling services provider reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.10. Transocean had a negative net margin of 13.27% and a negative return on equity of 4.67%. The business had revenue of $767.00 million for the quarter, compared to analysts’ expectations of $781.86 million. During the same period in the previous year, the company posted ($0.38) earnings per share. The business’s revenue for the quarter was up 18.2% compared to the same quarter last year. Equities research analysts predict that Transocean Ltd. will post -0.04 EPS for the current fiscal year.

Insider Transactions at Transocean

In other news, Director (Cyprus) Ltd Perestroika bought 2,000,000 shares of Transocean stock in a transaction dated Wednesday, May 15th. The shares were acquired at an average cost of $6.01 per share, with a total value of $12,020,000.00. Following the completion of the transaction, the director now owns 87,574,894 shares in the company, valued at approximately $526,325,112.94. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 13.16% of the company’s stock.

About Transocean

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. The company operates a fleet of mobile offshore drilling units, consisting of ultra-deepwater floaters and harsh environment floaters.