Transocean Ltd. (NYSE:RIG) Stock Position Lifted by LRI Investments LLC

LRI Investments LLC grew its position in shares of Transocean Ltd. (NYSE:RIG) by 18,518.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,135 shares of the offshore drilling services provider’s stock after buying an additional 25,000 shares during the period. LRI Investments LLC’s holdings in Transocean were worth $80,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of RIG. Twin Tree Management LP acquired a new stake in shares of Transocean during the 4th quarter worth approximately $27,000. Parallel Advisors LLC raised its position in shares of Transocean by 154.8% during the 1st quarter. Parallel Advisors LLC now owns 8,810 shares of the offshore drilling services provider’s stock worth $28,000 after purchasing an additional 5,353 shares during the period. Optiver Holding B.V. raised its position in shares of Transocean by 53.6% during the 4th quarter. Optiver Holding B.V. now owns 8,400 shares of the offshore drilling services provider’s stock worth $32,000 after purchasing an additional 2,933 shares during the period. Townsend & Associates Inc acquired a new stake in shares of Transocean during the 1st quarter worth approximately $32,000. Finally, Integrity Wealth Solutions LLC acquired a new stake in shares of Transocean during the 1st quarter worth approximately $39,000. Institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on RIG shares. Citigroup dropped their price target on Transocean from $4.50 to $3.50 and set a “neutral” rating on the stock in a research report on Wednesday, March 19th. Barclays lowered their target price on Transocean from $4.00 to $3.50 and set an “overweight” rating on the stock in a research report on Monday, April 7th. BTIG Research set a $5.00 target price on Transocean and gave the company a “buy” rating in a research report on Monday, May 5th. Susquehanna lowered their target price on Transocean from $5.00 to $4.00 and set a “positive” rating on the stock in a research report on Monday, April 14th. Finally, Morgan Stanley lowered their target price on Transocean from $4.00 to $3.50 and set an “equal weight” rating on the stock in a research report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $4.58.

Insider Activity at Transocean

In related news, EVP Roderick James Mackenzie sold 22,000 shares of Transocean stock in a transaction on Monday, May 12th. The stock was sold at an average price of $2.78, for a total transaction of $61,160.00. Following the completion of the sale, the executive vice president owned 340,841 shares of the company’s stock, valued at approximately $947,537.98. This trade represents a 6.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 12.54% of the stock is currently owned by company insiders.

Transocean Stock Performance

Shares of NYSE RIG opened at $2.73 on Tuesday. The company has a quick ratio of 1.06, a current ratio of 1.33 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of -2.87, a PEG ratio of 1.88 and a beta of 2.50. The stock’s fifty day simple moving average is $2.73 and its 200 day simple moving average is $3.04. Transocean Ltd. has a 52-week low of $1.97 and a 52-week high of $5.98.

Transocean (NYSE:RIG) last issued its earnings results on Monday, April 28th. The offshore drilling services provider reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.02. The business had revenue of $906.00 million during the quarter, compared to analysts’ expectations of $884.92 million. Transocean had a negative return on equity of 0.94% and a negative net margin of 18.79%. Transocean’s revenue was up 18.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.03) earnings per share. As a group, sell-side analysts forecast that Transocean Ltd. will post 0.14 earnings per share for the current fiscal year.

Transocean Company 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.