Headlands Technologies LLC Grows Holdings in Transocean Ltd. (NYSE:RIG)

Headlands Technologies LLC raised its position in Transocean Ltd. (NYSE:RIG) by 8,233.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 41,669 shares of the offshore drilling services provider’s stock after buying an additional 41,169 shares during the period. Headlands Technologies LLC’s holdings in Transocean were worth $265,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RIG. National Bank of Canada FI increased its holdings in Transocean by 3,800.0% in the third quarter. National Bank of Canada FI now owns 5,850 shares of the offshore drilling services provider’s stock valued at $46,000 after buying an additional 5,700 shares in the last quarter. AE Wealth Management LLC grew its position in shares of Transocean by 25.7% in the third quarter. AE Wealth Management LLC now owns 17,289 shares of the offshore drilling services provider’s stock valued at $142,000 after purchasing an additional 3,532 shares during the period. Valeo Financial Advisors LLC increased its stake in shares of Transocean by 12.9% during the third quarter. Valeo Financial Advisors LLC now owns 23,600 shares of the offshore drilling services provider’s stock worth $194,000 after purchasing an additional 2,700 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in shares of Transocean by 8.8% during the third quarter. Commonwealth Equity Services LLC now owns 222,448 shares of the offshore drilling services provider’s stock worth $1,826,000 after purchasing an additional 17,961 shares in the last quarter. Finally, Raymond James & Associates raised its position in shares of Transocean by 35.1% during the 3rd quarter. Raymond James & Associates now owns 381,124 shares of the offshore drilling services provider’s stock worth $3,129,000 after purchasing an additional 98,987 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RIG. Bank of America raised their target price on Transocean from $5.50 to $6.00 and gave the company an “underperform” rating in a research report on Monday, April 15th. Barclays dropped their target price on shares of Transocean from $7.00 to $6.00 and set an “equal weight” rating for the company in a report on Thursday, February 22nd. StockNews.com raised shares of Transocean to a “sell” rating in a research note on Tuesday, February 20th. Morgan Stanley lowered their price target on shares of Transocean from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Monday, February 26th. Finally, Susquehanna upgraded shares of Transocean from a “neutral” rating to a “positive” rating and increased their price objective for the company from $5.50 to $9.00 in a report on Monday, April 8th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Transocean has a consensus rating of “Hold” and a consensus target price of $8.22.

Transocean Trading Up 2.3 %

Shares of RIG stock opened at $5.87 on Friday. The company’s 50-day moving average price is $5.71 and its 200-day moving average price is $6.01. The company has a current ratio of 1.52, a quick ratio of 1.22 and a debt-to-equity ratio of 0.68. The stock has a market cap of $4.81 billion, a price-to-earnings ratio of -4.62 and a beta of 2.78. Transocean Ltd. has a twelve month low of $4.45 and a twelve month high of $8.88.

Transocean (NYSE:RIG) last announced its quarterly earnings results on Monday, February 19th. The offshore drilling services provider reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.12. The firm had revenue of $741.00 million for the quarter, compared to analysts’ expectations of $779.17 million. Transocean had a negative net margin of 33.69% and a negative return on equity of 7.13%. During the same quarter in the previous year, the company posted ($0.49) EPS. As a group, equities analysts predict that Transocean Ltd. will post 0.05 earnings per share for the current year.

Transocean 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.