Tejara Capital Ltd Has $7.17 Million Stock Position in Transocean Ltd. (NYSE:RIG)

Tejara Capital Ltd lifted its holdings in shares of Transocean Ltd. (NYSE:RIG) by 0.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,911,727 shares of the offshore drilling services provider’s stock after buying an additional 10,890 shares during the period. Transocean accounts for approximately 4.6% of Tejara Capital Ltd’s holdings, making the stock its 7th biggest position. Tejara Capital Ltd owned 0.22% of Transocean worth $7,169,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Twin Tree Management LP bought a new position in Transocean in the 4th quarter worth about $27,000. Blue Trust Inc. grew its position in Transocean by 96.2% in the 4th quarter. Blue Trust Inc. now owns 9,841 shares of the offshore drilling services provider’s stock worth $37,000 after purchasing an additional 4,826 shares during the last quarter. Adero Partners LLC bought a new position in Transocean in the 4th quarter worth about $38,000. Stratos Wealth Partners LTD. bought a new position in Transocean in the 4th quarter worth about $40,000. Finally, Orion Portfolio Solutions LLC bought a new position in Transocean in the 3rd quarter worth about $46,000. Institutional investors own 67.73% of the company’s stock.

Transocean Stock Up 4.1 %

RIG stock opened at $3.17 on Tuesday. Transocean Ltd. has a 12 month low of $2.55 and a 12 month high of $6.88. The firm has a market cap of $2.78 billion, a PE ratio of -4.34, a P/E/G ratio of 0.86 and a beta of 2.72. The firm has a 50 day simple moving average of $3.56 and a 200 day simple moving average of $3.97. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.47 and a quick ratio of 1.34.

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

Analysts Set New Price Targets

RIG has been the subject of several recent analyst reports. Benchmark restated a “hold” rating on shares of Transocean in a research report on Tuesday, December 3rd. SEB Equity Research set a $2.80 target price on shares of Transocean in a research report on Wednesday, March 5th. TD Cowen decreased their target price on shares of Transocean from $6.50 to $5.50 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Evercore ISI lowered shares of Transocean from an “outperform” rating to an “in-line” rating and reduced their price target for the stock from $6.00 to $5.00 in a research note on Wednesday, January 15th. Finally, JPMorgan Chase & Co. raised shares of Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 price target for the company in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $5.42.

Insider Activity at Transocean

In related news, EVP Roderick James Mackenzie sold 22,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $3.85, for a total value of $84,700.00. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 13.16% of the company’s stock.

Transocean Profile

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.