Banque Cantonale Vaudoise Sells 105,499 Shares of Transocean Ltd. $RIG

Banque Cantonale Vaudoise cut its holdings in Transocean Ltd. (NYSE:RIG) by 49.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,827 shares of the offshore drilling services provider’s stock after selling 105,499 shares during the period. Banque Cantonale Vaudoise’s holdings in Transocean were worth $454,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Transocean by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 97,006,263 shares of the offshore drilling services provider’s stock worth $400,636,000 after purchasing an additional 2,487,015 shares in the last quarter. American Century Companies Inc. boosted its holdings in Transocean by 12.8% in the third quarter. American Century Companies Inc. now owns 26,456,554 shares of the offshore drilling services provider’s stock worth $82,544,000 after purchasing an additional 3,006,786 shares in the last quarter. Dalal Street LLC bought a new stake in Transocean in the third quarter worth $76,260,000. Two Sigma Investments LP boosted its holdings in Transocean by 0.3% in the third quarter. Two Sigma Investments LP now owns 18,636,188 shares of the offshore drilling services provider’s stock worth $58,145,000 after purchasing an additional 64,305 shares in the last quarter. Finally, Ghisallo Capital Management LLC bought a new stake in Transocean in the third quarter worth $57,720,000. 67.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Pareto Securities cut shares of Transocean from a “hold” rating to a “sell” rating and set a $5.25 price objective for the company. in a report on Tuesday, February 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Transocean in a research report on Tuesday, April 21st. Fearnley Fonds lowered shares of Transocean from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 10th. TD Cowen boosted their target price on shares of Transocean from $5.50 to $6.00 and gave the stock a “hold” rating in a research report on Wednesday, May 6th. Finally, BTIG Research boosted their target price on shares of Transocean from $6.00 to $10.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $6.96.

Transocean Stock Down 0.2%

Transocean stock opened at $6.81 on Friday. The firm has a fifty day moving average price of $6.54 and a two-hundred day moving average price of $5.39. The firm has a market cap of $7.60 billion, a price-to-earnings ratio of -2.28 and a beta of 1.34. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.54 and a quick ratio of 1.20. Transocean Ltd. has a fifty-two week low of $2.34 and a fifty-two week high of $7.66.

Transocean (NYSE:RIG) last announced its quarterly earnings data on Monday, May 4th. The offshore drilling services provider reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.10). The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.02 billion. Transocean had a negative net margin of 66.79% and a positive return on equity of 0.88%. The firm’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.10) EPS. As a group, analysts forecast that Transocean Ltd. will post 0.19 earnings per share for the current year.

Insider Activity at Transocean

In other news, EVP Roderick James Mackenzie sold 78,370 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $6.36, for a total transaction of $498,433.20. Following the completion of the transaction, the executive vice president owned 268,025 shares of the company’s stock, valued at approximately $1,704,639. This represents a 22.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 9.70% of the company’s stock.

About Transocean

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.