Transocean Ltd. (NYSE:RIG) Position Trimmed by Foundation Resource Management Inc.

Foundation Resource Management Inc. reduced its holdings in Transocean Ltd. (NYSE:RIG) by 1.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 188,948 shares of the offshore drilling services provider’s stock after selling 2,963 shares during the period. Foundation Resource Management Inc.’s holdings in Transocean were worth $709,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Meeder Advisory Services Inc. raised its stake in Transocean by 104.3% during the second quarter. Meeder Advisory Services Inc. now owns 29,344 shares of the offshore drilling services provider’s stock worth $157,000 after acquiring an additional 14,984 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Transocean by 19.0% during the second quarter. Dimensional Fund Advisors LP now owns 36,725,995 shares of the offshore drilling services provider’s stock valued at $196,484,000 after purchasing an additional 5,856,414 shares during the last quarter. Moors & Cabot Inc. raised its position in shares of Transocean by 28.3% during the 2nd quarter. Moors & Cabot Inc. now owns 44,850 shares of the offshore drilling services provider’s stock worth $240,000 after purchasing an additional 9,900 shares during the period. Primecap Management Co. CA lifted its holdings in shares of Transocean by 0.7% in the 2nd quarter. Primecap Management Co. CA now owns 56,119,489 shares of the offshore drilling services provider’s stock worth $300,239,000 after purchasing an additional 375,450 shares during the last quarter. Finally, Amalgamated Bank acquired a new position in Transocean during the 2nd quarter valued at approximately $135,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Transocean

In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $4.05, for a total value of $89,100.00. Following the completion of the sale, the executive vice president now directly owns 229,596 shares of the company’s stock, valued at approximately $929,863.80. This represents a 8.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 13.16% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. StockNews.com upgraded Transocean to a “sell” rating in a research note on Tuesday, November 12th. Benchmark reiterated a “hold” rating on shares of Transocean in a research report on Tuesday, December 3rd. Evercore ISI cut shares of Transocean from an “outperform” rating to an “in-line” rating and decreased their target price for the stock from $6.00 to $5.00 in a research report on Wednesday. Susquehanna cut their price target on Transocean from $7.00 to $6.50 and set a “positive” rating on the stock in a report on Friday, November 1st. Finally, Morgan Stanley boosted their price objective on Transocean from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.94.

Transocean Stock Performance

Shares of NYSE RIG opened at $4.07 on Wednesday. Transocean Ltd. has a 1 year low of $3.40 and a 1 year high of $6.88. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.34 and a current ratio of 1.64. The stock has a fifty day moving average price of $4.07 and a two-hundred day moving average price of $4.51. The firm has a market cap of $3.56 billion, a P/E ratio of -5.43 and a beta of 2.73.

Transocean Company Profile

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. The company operates a fleet of mobile offshore drilling units, consisting of ultra-deepwater floaters and harsh environment floaters.