Axa decreased its position in shares of Transocean Ltd. (NYSE:RIG) by 4.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 57,200 shares of the offshore drilling services provider’s stock after selling 2,900 shares during the period. Axa’s holdings in Transocean were worth $712,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the stock. Federated Investors Inc. PA acquired a new stake in shares of Transocean during the fourth quarter worth about $101,000. WFG Advisors LP increased its stake in shares of Transocean by 40.7% in the first quarter. WFG Advisors LP now owns 8,856 shares of the offshore drilling services provider’s stock worth $110,000 after buying an additional 2,562 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new stake in shares of Transocean during the first quarter worth about $116,000. Bristol Advisors LLC acquired a new stake in shares of Transocean during the first quarter worth about $125,000. Finally, Ronald Blue & Co. LLC acquired a new stake in shares of Transocean during the first quarter worth about $125,000. Institutional investors and hedge funds own 68.16% of the company’s stock.
Transocean Ltd. (NYSE:RIG) traded down 4.21% during trading on Tuesday, hitting $8.20. 3,209,745 shares of the stock were exchanged. Transocean Ltd. has a 12 month low of $8.10 and a 12 month high of $16.66. The stock’s 50 day moving average price is $9.86 and its 200 day moving average price is $12.63. The stock has a market cap of $3.21 billion, a P/E ratio of 4.93 and a beta of 1.70.
Transocean (NYSE:RIG) last announced its quarterly earnings data on Wednesday, May 3rd. The offshore drilling services provider reported $0.01 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.09. The company had revenue of $785 million during the quarter, compared to the consensus estimate of $737.51 million. Transocean had a net margin of 17.28% and a return on equity of 2.57%. Analysts forecast that Transocean Ltd. will post ($0.44) EPS for the current fiscal year.
A number of brokerages have recently issued reports on RIG. Piper Jaffray Companies boosted their price objective on shares of Transocean from $13.70 to $14.10 and gave the company a “neutral” rating in a research report on Friday, February 24th. Pareto Securities downgraded shares of Transocean from a “buy” rating to a “sell” rating and set a $11.00 price objective for the company. in a research report on Friday, February 24th. CLSA reissued a “sell” rating on shares of Transocean in a research report on Thursday, February 23rd. BMO Capital Markets reissued a “sell” rating on shares of Transocean in a research report on Sunday, February 26th. Finally, Barclays PLC reissued an “underweight” rating and set a $10.00 price objective on shares of Transocean in a research report on Monday, February 27th. Sixteen analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $13.06.
In other Transocean news, SVP David A. Tonnel sold 9,450 shares of the company’s stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $11.28, for a total transaction of $106,596.00. Following the completion of the transaction, the senior vice president now owns 54,845 shares in the company, valued at approximately $618,651.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.33% of the stock is currently owned by corporate insiders.
Transocean Ltd. is an international provider of offshore contract drilling services for oil and gas wells. The Company’s primary business is to contract its drilling rigs, related equipment and work crews on a dayrate basis to drill oil and gas wells. As of February 9, 2017, it owned or had partial ownership interests in and operated 56 mobile offshore drilling units.
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