Mackenzie Financial Corp purchased a new position in shares of Transocean LTD (NYSE:RIG) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 138,197 shares of the offshore drilling services provider’s stock, valued at approximately $1,476,000.
Other institutional investors have also modified their holdings of the company. Advisors Preferred LLC increased its holdings in shares of Transocean by 1,198.9% during the 4th quarter. Advisors Preferred LLC now owns 9,508 shares of the offshore drilling services provider’s stock worth $102,000 after buying an additional 8,776 shares during the last quarter. Princeton Capital Management LLC acquired a new stake in shares of Transocean during the 4th quarter worth $107,000. Suntrust Banks Inc. acquired a new stake in shares of Transocean during the 4th quarter worth $112,000. IndexIQ Advisors LLC acquired a new stake in shares of Transocean during the 3rd quarter worth $117,000. Finally, XR Securities LLC acquired a new stake in shares of Transocean during the 4th quarter worth $120,000. 62.95% of the stock is currently owned by institutional investors.
Transocean LTD (RIG) opened at $9.58 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.36 and a quick ratio of 3.06. Transocean LTD has a 12-month low of $7.20 and a 12-month high of $13.18.
Transocean (NYSE:RIG) last posted its quarterly earnings data on Tuesday, February 20th. The offshore drilling services provider reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.03). The firm had revenue of $629.00 million during the quarter, compared to analysts’ expectations of $619.66 million. Transocean had a negative net margin of 105.18% and a negative return on equity of 0.17%. The business’s quarterly revenue was down 35.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.69 earnings per share. equities analysts forecast that Transocean LTD will post -0.71 EPS for the current fiscal year.
In other news, Director Frederik Wilhelm Mohn acquired 2,000,000 shares of the firm’s stock in a transaction on Friday, March 2nd. The stock was bought at an average cost of $9.29 per share, with a total value of $18,580,000.00. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP David A. Tonnel sold 9,000 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $9.39, for a total transaction of $84,510.00. Following the completion of the transaction, the senior vice president now directly owns 75,349 shares of the company’s stock, valued at $707,527.11. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.
A number of analysts have recently commented on RIG shares. Jefferies Group upgraded Transocean from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a report on Thursday, January 4th. Royal Bank of Canada set a $11.00 price objective on Transocean and gave the stock a “hold” rating in a report on Sunday, November 12th. Susquehanna Bancshares set a $10.00 price objective on Transocean and gave the stock a “hold” rating in a report on Friday, February 16th. Piper Jaffray Companies set a $11.00 price objective on Transocean and gave the stock a “hold” rating in a report on Thursday, February 15th. Finally, Cowen set a $11.00 price objective on Transocean and gave the stock a “hold” rating in a report on Thursday, January 11th. Nine equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $12.12.
Transocean Company Profile
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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