Ameritas Investment Partners Inc. grew its position in shares of Transocean Ltd. (NYSE:RIG) by 1,158.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 116,800 shares of the offshore drilling services provider’s stock after acquiring an additional 107,522 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in Transocean were worth $953,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Dumont & Blake Investment Advisors LLC acquired a new position in Transocean during the 3rd quarter worth approximately $108,000. Saratoga Research & Investment Management acquired a new position in Transocean during the 3rd quarter worth approximately $115,000. IndexIQ Advisors LLC acquired a new position in Transocean during the 3rd quarter worth approximately $117,000. Dynamic Technology Lab Private Ltd acquired a new position in Transocean during the 3rd quarter worth approximately $124,000. Finally, Investment Centers of America Inc. acquired a new position in Transocean during the 3rd quarter worth approximately $127,000. 73.09% of the stock is owned by hedge funds and other institutional investors.

Shares of Transocean Ltd. (RIG) traded down $0.33 during midday trading on Thursday, reaching $9.82. The company’s stock had a trading volume of 10,008,000 shares, compared to its average volume of 13,720,112. The company has a current ratio of 2.36, a quick ratio of 2.13 and a debt-to-equity ratio of 0.51. Transocean Ltd. has a 52-week low of $7.20 and a 52-week high of $16.16. The firm has a market cap of $3,970.81, a price-to-earnings ratio of 12.69 and a beta of 1.80.

Transocean (NYSE:RIG) last issued its quarterly earnings data on Wednesday, November 1st. The offshore drilling services provider reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.20. Transocean had a positive return on equity of 2.10% and a negative net margin of 84.09%. The firm had revenue of $808.00 million for the quarter, compared to analyst estimates of $703.13 million. During the same period in the prior year, the firm posted $0.25 EPS. The company’s revenue for the quarter was down 10.8% on a year-over-year basis. research analysts expect that Transocean Ltd. will post -0.34 EPS for the current year.

RIG has been the subject of a number of recent research reports. initiated coverage on Transocean in a research report on Thursday, October 19th. They set a “hold” rating and a $12.00 price target for the company. Jefferies Group upped their price target on Transocean from $10.50 to $11.00 and gave the stock a “hold” rating in a research report on Friday, November 3rd. Zacks Investment Research raised Transocean from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research report on Tuesday, October 3rd. BidaskClub raised Transocean from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th. Finally, ValuEngine upgraded Transocean from a “hold” rating to a “buy” rating in a research note on Thursday, November 2nd. Eleven investment analysts have rated the stock with a sell rating, twelve have given a hold rating and fifteen have given a buy rating to the stock. Transocean currently has an average rating of “Hold” and a consensus target price of $12.31.

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Transocean 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.

Institutional Ownership by Quarter for Transocean (NYSE:RIG)

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