Boston Partners Sells 87,580 Shares of Transocean Ltd. (NYSE:RIG)

Boston Partners lowered its stake in Transocean Ltd. (NYSE:RIG) by 39.1% in the 4th quarter, Holdings Channel reports. The firm owned 136,573 shares of the offshore drilling services provider’s stock after selling 87,580 shares during the quarter. Boston Partners’ holdings in Transocean were worth $512,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of RIG. Pilgrim Global Advisors LLC purchased a new stake in shares of Transocean in the 3rd quarter valued at about $77,473,000. Van ECK Associates Corp raised its holdings in shares of Transocean by 33.9% in the 4th quarter. Van ECK Associates Corp now owns 15,393,873 shares of the offshore drilling services provider’s stock valued at $57,727,000 after acquiring an additional 3,895,880 shares in the last quarter. Madison Investment Advisors LLC purchased a new stake in shares of Transocean in the 4th quarter valued at about $11,156,000. Point72 Europe London LLP purchased a new stake in shares of Transocean in the 3rd quarter valued at about $8,935,000. Finally, State Street Corp raised its holdings in shares of Transocean by 11.0% in the 3rd quarter. State Street Corp now owns 19,594,121 shares of the offshore drilling services provider’s stock valued at $83,275,000 after acquiring an additional 1,944,723 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. JPMorgan Chase & Co. raised Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 price target on the stock in a report on Friday, December 6th. Evercore ISI cut Transocean from an “outperform” rating to an “in-line” rating and decreased their price objective for the company from $6.00 to $5.00 in a report on Wednesday, January 15th. Barclays decreased their price objective on Transocean from $4.50 to $4.00 and set an “overweight” rating on the stock in a report on Tuesday, February 25th. SEB Equity Research set a $2.80 price objective on Transocean in a report on Wednesday, March 5th. Finally, Benchmark reissued a “hold” rating on shares of Transocean in a report on Tuesday, December 3rd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $5.23.

Insider Transactions at Transocean

In other news, EVP Roderick James Mackenzie sold 22,000 shares of Transocean stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $3.85, for a total value of $84,700.00. Following the sale, the executive vice president now directly owns 313,072 shares in the company, valued at approximately $1,205,327.20. This trade represents a 6.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 13.16% of the company’s stock.

Transocean Price Performance

Shares of Transocean stock opened at $3.20 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.47 and a quick ratio of 1.34. The business’s 50 day simple moving average is $3.49 and its two-hundred day simple moving average is $3.93. The stock has a market capitalization of $2.81 billion, a P/E ratio of -4.38, a price-to-earnings-growth ratio of 0.86 and a beta of 2.72. Transocean Ltd. has a one year low of $2.55 and a one year high of $6.88.

Transocean (NYSE:RIG) last announced its quarterly earnings results on Monday, February 17th. The offshore drilling services provider reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.11). The company had revenue of $952.00 million during the quarter, compared to analysts’ expectations of $962.28 million. Transocean had a negative return on equity of 0.52% and a negative net margin of 14.53%. Analysts forecast that Transocean Ltd. will post 0.14 EPS for the current year.

Transocean Profile

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.