Jefferies Financial Group Inc. Increases Holdings in Transocean Ltd. $RIG

Jefferies Financial Group Inc. increased its holdings in shares of Transocean Ltd. (NYSE:RIG) by 11,328.9% in the fourth quarter, Holdings Channel reports. The firm owned 4,610,882 shares of the offshore drilling services provider’s stock after acquiring an additional 4,570,538 shares during the period. Jefferies Financial Group Inc.’s holdings in Transocean were worth $19,043,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Evoke Wealth LLC purchased a new stake in Transocean during the 4th quarter worth $42,000. Keudell Morrison Wealth Management purchased a new position in Transocean in the 4th quarter valued at about $41,000. Leonteq Securities AG purchased a new position in Transocean in the 4th quarter valued at about $52,000. Investment House LLC purchased a new position in Transocean in the 4th quarter valued at about $413,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in Transocean in the 4th quarter valued at about $2,338,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Transocean Stock Performance

Shares of RIG stock opened at $6.81 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.54. Transocean Ltd. has a one year low of $2.34 and a one year high of $7.66. The company’s 50-day simple moving average is $6.54 and its 200-day simple moving average is $5.39. The stock has a market capitalization of $7.60 billion, a price-to-earnings ratio of -2.28 and a beta of 1.34.

Transocean (NYSE:RIG) last issued its quarterly earnings results on Monday, May 4th. The offshore drilling services provider reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.10). Transocean had a positive return on equity of 0.88% and a negative net margin of 66.79%.The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the previous year, the business posted ($0.10) EPS. The business’s revenue for the quarter was up 19.3% on a year-over-year basis. Equities analysts anticipate that Transocean Ltd. will post 0.19 earnings per share for the current fiscal year.

Insider Activity at Transocean

In other news, EVP Roderick James Mackenzie sold 78,370 shares of the stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $6.36, for a total transaction of $498,433.20. Following the transaction, the executive vice president owned 268,025 shares of the company’s stock, valued at approximately $1,704,639. This trade represents a 22.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 9.70% of the company’s stock.

Wall Street Analyst Weigh In

RIG has been the subject of a number of analyst reports. Fearnley Fonds cut shares of Transocean from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 10th. Clarkson Capital cut shares of Transocean from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 19th. Susquehanna upped their price objective on shares of Transocean from $7.50 to $8.00 and gave the company a “positive” rating in a research report on Tuesday, April 7th. Barclays raised shares of Transocean from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $6.00 to $8.00 in a research report on Thursday, May 7th. Finally, TD Cowen upped their price objective on shares of Transocean from $5.50 to $6.00 and gave the company a “hold” rating in a research report on Wednesday, May 6th. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.96.

Transocean Profile

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.