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 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,124,988 shares of the offshore drilling services provider’s stock after selling 2,143,380 shares during the quarter. Tudor Investment Corp ET AL owned 0.19% of Transocean worth $6,630,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Benedict Financial Advisors Inc. purchased a new position in shares of Transocean during the 3rd quarter valued at $31,000. Vestmark Advisory Solutions Inc. purchased a new stake in Transocean in the 3rd quarter worth $31,000. Josh Arnold Investment Consultant LLC bought a new stake in Transocean during the second quarter valued at about $26,000. Elevation Point Wealth Partners LLC purchased a new position in shares of Transocean in the third quarter valued at about $31,000. Finally, Blueshift Asset Management LLC bought a new position in shares of Transocean in the second quarter worth about $27,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on RIG. Clarkson Capital cut Transocean from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 19th. Morgan Stanley boosted their target price on shares of Transocean from $4.50 to $5.00 and gave the stock an “equal weight” rating in a report on Monday, February 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Transocean in a research note on Thursday, January 22nd. Citigroup lifted their price target on shares of Transocean from $4.25 to $4.50 and gave the company a “neutral” rating in a report on Thursday, December 11th. Finally, Fearnley Fonds cut shares of Transocean from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 10th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Transocean has a consensus rating of “Reduce” and a consensus price target of $6.38.

Insider Buying and Selling

In other news, CEO Keelan Adamson sold 58,687 shares of Transocean stock in a transaction that occurred 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 completion of the transaction, the chief executive officer owned 1,222,182 shares in the company, valued at approximately $6,110,910. The trade was a 4.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Roderick James Mackenzie sold 78,370 shares of the business’s stock in a transaction that occurred 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 transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 159,903 shares of company stock valued at $906,098. Company insiders own 12.54% of the company’s stock.

Transocean Stock Performance

Transocean stock opened at $6.62 on Wednesday. The company’s 50-day moving average price is $5.72 and its 200-day moving average price is $4.49. The company has a quick ratio of 1.27, a current ratio of 1.56 and a debt-to-equity ratio of 0.64. The company has a market cap of $7.30 billion, a PE ratio of -2.10 and a beta of 1.40. Transocean Ltd. has a twelve month low of $1.97 and a twelve month high of $6.96.

Transocean (NYSE:RIG) last released its quarterly earnings results on Thursday, February 19th. The offshore drilling services provider reported $0.02 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.07). Transocean had a positive return on equity of 0.41% and a negative net margin of 73.52%.The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the prior year, the business posted ($0.09) EPS. The company’s revenue was up 9.6% on a year-over-year basis. On average, equities research analysts forecast 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.