7,146 Shares in Transocean Ltd. (NYSE:RIG) Acquired by Twin Tree Management LP

Twin Tree Management LP bought a new position in shares of Transocean Ltd. (NYSE:RIG) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 7,146 shares of the offshore drilling services provider’s stock, valued at approximately $27,000.

Several other hedge funds have also added to or reduced their stakes in the business. one8zero8 LLC acquired a new stake in Transocean during the 4th quarter worth approximately $105,000. Madison Investment Advisors LLC acquired a new position in shares of Transocean in the 4th quarter worth approximately $11,156,000. Swiss National Bank lifted its position in shares of Transocean by 0.9% in the 4th quarter. Swiss National Bank now owns 1,463,630 shares of the offshore drilling services provider’s stock worth $5,489,000 after purchasing an additional 12,900 shares during the period. Avantax Advisory Services Inc. lifted its position in shares of Transocean by 4.2% in the 4th quarter. Avantax Advisory Services Inc. now owns 107,012 shares of the offshore drilling services provider’s stock worth $401,000 after purchasing an additional 4,285 shares during the period. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of Transocean in the 4th quarter worth approximately $44,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RIG has been the topic of a number of recent analyst reports. TD Cowen dropped their price target on shares of Transocean from $6.50 to $5.50 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Evercore ISI downgraded shares of Transocean from an “outperform” rating to an “in-line” rating and dropped their price target for the stock from $6.00 to $5.00 in a research report on Wednesday, January 15th. SEB Equity Research set a $2.80 target price on shares of Transocean in a research report on Wednesday, March 5th. Citigroup dropped their target price on shares of Transocean from $4.50 to $3.50 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Benchmark reiterated a “hold” rating on shares of Transocean in a research report on Tuesday, December 3rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $5.23.

Transocean Stock Performance

Shares of RIG stock opened at $3.14 on Thursday. Transocean Ltd. has a 12 month low of $2.55 and a 12 month high of $6.88. The company has a current ratio of 1.47, a quick ratio of 1.34 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $2.76 billion, a PE ratio of -4.29, a price-to-earnings-growth ratio of 0.86 and a beta of 2.72. The firm has a fifty day simple moving average of $3.52 and a two-hundred day simple moving average of $3.95.

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

Insider Transactions at Transocean

In related news, EVP Roderick James Mackenzie sold 22,000 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $3.85, for a total transaction of $84,700.00. Following the completion of the transaction, the executive vice president now owns 313,072 shares in the company, valued at approximately $1,205,327.20. This represents a 6.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company 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.