Twin Tree Management LP Purchases New Stake in Transocean Ltd. (NYSE:RIG)

Twin Tree Management LP purchased a new stake in shares of Transocean Ltd. (NYSE:RIG) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,146 shares of the offshore drilling services provider’s stock, valued at approximately $27,000.

Other institutional investors also recently added to or reduced their stakes in the company. Atria Investments Inc purchased a new stake in Transocean during the third quarter valued at about $51,000. Oppenheimer Asset Management Inc. lifted its holdings in Transocean by 10.9% during the third quarter. Oppenheimer Asset Management Inc. now owns 25,170 shares of the offshore drilling services provider’s stock valued at $107,000 after purchasing an additional 2,469 shares during the last quarter. KBC Group NV lifted its holdings in Transocean by 28.7% during the third quarter. KBC Group NV now owns 23,785 shares of the offshore drilling services provider’s stock valued at $101,000 after purchasing an additional 5,306 shares during the last quarter. Intech Investment Management LLC purchased a new stake in Transocean during the third quarter valued at about $670,000. Finally, Primecap Management Co. CA lifted its holdings in Transocean by 0.4% during the third quarter. Primecap Management Co. CA now owns 56,342,169 shares of the offshore drilling services provider’s stock valued at $239,454,000 after purchasing an additional 222,680 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling

In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $3.85, for a total transaction of $84,700.00. Following the transaction, the executive vice president now directly owns 313,072 shares in the company, valued at $1,205,327.20. This trade represents a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 13.16% of the stock is owned by company insiders.

Transocean Stock Down 2.0 %

RIG stock opened at $3.14 on Thursday. The company has a current ratio of 1.47, a quick ratio of 1.34 and a debt-to-equity ratio of 0.60. The company’s 50 day moving average is $3.52 and its 200 day moving average is $3.95. The stock has a market cap of $2.76 billion, a price-to-earnings ratio of -4.29, a price-to-earnings-growth ratio of 0.86 and a beta of 2.72. Transocean Ltd. has a 1-year low of $2.55 and a 1-year high of $6.88.

Transocean (NYSE:RIG) last posted its quarterly earnings data on Monday, February 17th. The offshore drilling services provider reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.11). The company had revenue of $952.00 million during the quarter, compared to the consensus estimate of $962.28 million. Transocean had a negative return on equity of 0.52% and a negative net margin of 14.53%. Sell-side analysts predict that Transocean Ltd. will post 0.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on RIG. Evercore ISI downgraded shares of Transocean from an “outperform” rating to an “in-line” rating and dropped their price objective for the company from $6.00 to $5.00 in a report on Wednesday, January 15th. Citigroup lowered their price target on shares of Transocean from $4.50 to $3.50 and set a “neutral” rating on the stock in a report on Wednesday. Barclays lowered their price target on shares of Transocean from $4.50 to $4.00 and set an “overweight” rating on the stock in a report on Tuesday, February 25th. Benchmark reissued a “hold” rating on shares of Transocean in a report on Tuesday, December 3rd. Finally, TD Cowen lowered their price target on shares of Transocean from $6.50 to $5.50 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $5.23.

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.