Tudor Investment Corp ET AL Has $6.63 Million Position in Transocean Ltd. $RIG

Tudor Investment Corp ET AL reduced its position in shares of Transocean Ltd. (NYSE:RIG) by 50.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,124,988 shares of the offshore drilling services provider’s stock after selling 2,143,380 shares during the period. Tudor Investment Corp ET AL owned about 0.19% of Transocean worth $6,630,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of RIG. Vanguard Group Inc. boosted its position in Transocean by 19.3% during the third quarter. Vanguard Group Inc. now owns 94,519,248 shares of the offshore drilling services provider’s stock valued at $294,900,000 after purchasing an additional 15,315,289 shares during the last quarter. American Century Companies Inc. boosted its position in Transocean by 12.8% during the third quarter. American Century Companies Inc. now owns 26,456,554 shares of the offshore drilling services provider’s stock valued at $82,544,000 after purchasing an additional 3,006,786 shares during the last quarter. Dalal Street LLC acquired a new position in Transocean during the third quarter valued at approximately $76,260,000. Two Sigma Investments LP boosted its position in Transocean by 0.3% during the third quarter. Two Sigma Investments LP now owns 18,636,188 shares of the offshore drilling services provider’s stock valued at $58,145,000 after purchasing an additional 64,305 shares during the last quarter. Finally, Ghisallo Capital Management LLC acquired a new position in Transocean during the third quarter valued at approximately $57,720,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on RIG. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Transocean in a research report on Wednesday, December 10th. Fearnley Fonds cut Transocean from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 10th. Susquehanna increased their price target on Transocean from $7.50 to $8.00 and gave the company a “positive” rating in a research report on Tuesday. Pareto Securities cut Transocean from a “hold” rating to a “sell” rating and set a $5.25 price target for the company. in a research report on Tuesday, February 10th. Finally, Citigroup increased their price target on Transocean from $4.25 to $4.50 and gave the company a “neutral” rating in a research report on Thursday, December 11th. Two research 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. Based on data from MarketBeat, Transocean has an average rating of “Reduce” and an average target price of $6.46.

Transocean Price Performance

NYSE:RIG opened at $6.69 on Wednesday. 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 stock’s 50 day moving average price is $6.15 and its two-hundred day moving average price is $4.73. The firm has a market capitalization of $7.40 billion, a price-to-earnings ratio of -2.12 and a beta of 1.37. Transocean Ltd. has a 12-month low of $2.03 and a 12-month high of $7.14.

Transocean (NYSE:RIG) last released its quarterly earnings data on Friday, February 20th. The offshore drilling services provider reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.07). The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. Transocean had a negative net margin of 73.52% and a positive return on equity of 0.41%. Transocean’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.09) EPS. On average, analysts anticipate that Transocean Ltd. will post 0.14 earnings per share for the current year.

Insider Activity at Transocean

In other news, EVP Roderick James Mackenzie sold 78,370 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $6.36, for a total transaction of $498,433.20. Following the transaction, the executive vice president owned 268,025 shares in the company, valued at approximately $1,704,639. This trade represents a 22.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Keelan Adamson sold 58,687 shares of the 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 transaction, the chief executive officer owned 1,222,182 shares in the company, valued at approximately $6,110,910. This trade represents a 4.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 159,903 shares of company stock worth $906,098 in the last 90 days. Corporate insiders own 12.27% of the company’s stock.

Transocean Company 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.