Sei Investments Co. Buys 198,657 Shares of Transocean Ltd. $RIG

Sei Investments Co. raised its stake in Transocean Ltd. (NYSE:RIG) by 69.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 483,017 shares of the offshore drilling services provider’s stock after buying an additional 198,657 shares during the period. Sei Investments Co.’s holdings in Transocean were worth $3,202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of RIG. State of Wyoming raised its stake in shares of Transocean by 82.6% during the first quarter. State of Wyoming now owns 71,181 shares of the offshore drilling services provider’s stock valued at $472,000 after acquiring an additional 32,191 shares in the last quarter. Cetera Investment Advisers raised its position in Transocean by 88.6% during the 1st quarter. Cetera Investment Advisers now owns 875,719 shares of the offshore drilling services provider’s stock valued at $5,806,000 after purchasing an additional 411,274 shares in the last quarter. First Trust Advisors LP grew its position in shares of Transocean by 3,072.5% during the 1st quarter. First Trust Advisors LP now owns 958,406 shares of the offshore drilling services provider’s stock worth $6,354,000 after buying an additional 928,196 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Transocean by 12.3% during the first quarter. Dimensional Fund Advisors LP now owns 48,819,576 shares of the offshore drilling services provider’s stock valued at $323,682,000 after buying an additional 5,349,264 shares during the period. Finally, S&CO Inc. purchased a new stake in Transocean in the first quarter worth about $298,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Transocean Stock Performance

Shares of RIG opened at $5.26 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.20 and a debt-to-equity ratio of 0.56. The firm has a market cap of $5.88 billion, a PE ratio of -2.80, a P/E/G ratio of 3.68 and a beta of 1.32. Transocean Ltd. has a 12 month low of $2.76 and a 12 month high of $7.66. The stock has a fifty day moving average price of $5.38 and a 200-day moving average price of $5.90.

Transocean (NYSE:RIG) last announced its earnings results on Wednesday, August 5th. The offshore drilling services provider reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.02. Transocean had a positive return on equity of 2.60% and a negative net margin of 40.24%.The firm had revenue of $966.00 million for the quarter, compared to the consensus estimate of $956.64 million. During the same period in the previous year, the business earned ($1.06) EPS. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. Equities research analysts predict that Transocean Ltd. will post 0.13 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Chad C. Deaton acquired 35,000 shares of the business’s stock in a transaction dated Thursday, July 2nd. The shares were purchased at an average price of $4.95 per share, for a total transaction of $173,250.00. Following the completion of the acquisition, the director directly owned 237,421 shares in the company, valued at $1,175,233.95. The trade was a 17.29% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have commented on RIG. Morgan Stanley raised their target price on shares of Transocean from $5.00 to $7.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Transocean in a research note on Friday, July 17th. Susquehanna cut their price objective on shares of Transocean from $8.00 to $7.00 and set a “positive” rating on the stock in a report on Wednesday, July 8th. TD Cowen boosted their price objective on shares of Transocean from $5.50 to $6.00 and gave the stock a “hold” rating in a research note on Wednesday, May 6th. Finally, Barclays upgraded Transocean from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $6.00 to $8.00 in a report on Thursday, May 7th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $6.82.

About Transocean

Transocean Ltd. is a leading international provider of offshore contract drilling services for the oil and gas industry. The company specializes in the operation of mobile drilling units, including ultra-deepwater drillships, semisubmersible rigs and high-specification jackup rigs. Transocean’s fleet is designed to meet complex drilling requirements, from ultra-deepwater well construction to shelf exploration and development projects.

The company’s core services encompass the full spectrum of offshore drilling operations, including project and engineering management, marine operations, drilling supervision, and maintenance support.