Brown Advisory Inc. bought a new position in shares of Transocean LTD (NYSE:RIG) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 268,808 shares of the offshore drilling services provider’s stock, valued at approximately $1,865,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. We Are One Seven LLC acquired a new stake in Transocean in the fourth quarter valued at about $31,000. NuWave Investment Management LLC boosted its stake in Transocean by 2,193.1% in the fourth quarter. NuWave Investment Management LLC now owns 8,324 shares of the offshore drilling services provider’s stock valued at $57,000 after buying an additional 7,961 shares in the last quarter. National Asset Management Inc. acquired a new stake in Transocean in the fourth quarter valued at about $71,000. Sigma Planning Corp acquired a new stake in Transocean in the fourth quarter valued at about $72,000. Finally, Piedmont Investment Advisors Inc. acquired a new stake in Transocean in the fourth quarter valued at about $94,000. 73.89% of the stock is currently owned by institutional investors.

In other Transocean news, CAO Howard E. Davis sold 55,212 shares of the stock in a transaction dated Friday, December 28th. The stock was sold at an average price of $7.10, for a total value of $392,005.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 11.05% of the stock is currently owned by company insiders.

Transocean stock opened at $9.46 on Thursday. The company has a quick ratio of 2.38, a current ratio of 2.71 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $5.69 billion, a price-to-earnings ratio of -11.97 and a beta of 1.82. Transocean LTD has a 12 month low of $6.19 and a 12 month high of $14.47.

Transocean (NYSE:RIG) last posted its earnings results on Monday, February 18th. The offshore drilling services provider reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.10). The firm had revenue of $748.00 million during the quarter, compared to the consensus estimate of $741.18 million. Transocean had a negative net margin of 66.14% and a negative return on equity of 2.90%. Transocean’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.24) earnings per share. On average, research analysts anticipate that Transocean LTD will post -0.76 EPS for the current year.

Several analysts recently weighed in on RIG shares. Goldman Sachs Group started coverage on Transocean in a research note on Sunday, March 10th. They issued a “buy” rating and a $11.00 price objective on the stock. DNB Markets raised Transocean from a “hold” rating to a “buy” rating in a research note on Wednesday, January 9th. UBS Group set a $12.00 price objective on Transocean and gave the company a “buy” rating in a research note on Thursday, December 20th. Credit Suisse Group started coverage on Transocean in a research note on Thursday, December 13th. They issued an “outperform” rating and a $14.00 price objective on the stock. Finally, Barclays raised Transocean from an “underweight” rating to an “overweight” rating and set a $10.00 price objective on the stock in a research note on Wednesday, February 20th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $13.66.

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Transocean Company Profile

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. The company primarily offers drilling rigs, related equipment, and work crews; and ultra-deepwater and harsh environment drilling services. As of February 18, 2019, it owned or had partial ownership interests in, and operated 48 mobile offshore drilling units that consist of 31 ultra-deepwater floaters, 13 harsh environment floaters, and 4 midwater floaters.

Further Reading: Special Dividends

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Institutional Ownership by Quarter for Transocean (NYSE:RIG)

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