Transocean Ltd. (NYSE:RIG) Shares Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA raised its holdings in Transocean Ltd. (NYSE:RIG) by 11.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 116,060 shares of the offshore drilling services provider’s stock after acquiring an additional 12,136 shares during the period. Pictet Asset Management Holding SA’s holdings in Transocean were worth $435,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in RIG. Twin Tree Management LP purchased a new position in Transocean during the fourth quarter worth approximately $27,000. Blue Trust Inc. increased its holdings in shares of Transocean by 96.2% during the 4th quarter. Blue Trust Inc. now owns 9,841 shares of the offshore drilling services provider’s stock worth $37,000 after buying an additional 4,826 shares during the last quarter. Adero Partners LLC purchased a new position in shares of Transocean in the 4th quarter worth $38,000. Stratos Wealth Partners LTD. acquired a new position in Transocean in the fourth quarter valued at $40,000. Finally, R Squared Ltd purchased a new stake in Transocean during the fourth quarter valued at about $41,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Transactions at Transocean

In other news, EVP Roderick James Mackenzie sold 22,000 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $3.85, for a total value of $84,700.00. Following the sale, the executive vice president now owns 313,072 shares in the company, valued at approximately $1,205,327.20. The trade was a 6.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 13.16% of the company’s stock.

Transocean Price Performance

RIG opened at $2.41 on Thursday. The company has a current ratio of 1.47, a quick ratio of 1.34 and a debt-to-equity ratio of 0.60. Transocean Ltd. has a 1 year low of $1.97 and a 1 year high of $6.47. The stock has a fifty day moving average price of $3.14 and a 200 day moving average price of $3.78. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of -3.29, a PEG ratio of 0.86 and a beta of 2.29.

Transocean (NYSE:RIG) last posted its earnings results on Monday, February 17th. The offshore drilling services provider reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.11). Transocean had a negative net margin of 14.53% and a negative return on equity of 0.52%. The company had revenue of $952.00 million for the quarter, compared to the consensus estimate of $962.28 million. Analysts forecast that Transocean Ltd. will post 0.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. SEB Equity Research set a $2.80 target price on shares of Transocean in a research note on Wednesday, March 5th. Barclays reduced their price objective on Transocean from $4.00 to $3.50 and set an “overweight” rating on the stock in a research note on Monday. Evercore ISI lowered Transocean from an “outperform” rating to an “in-line” rating and lowered their target price for the company from $6.00 to $5.00 in a research note on Wednesday, January 15th. Morgan Stanley reduced their price target on Transocean from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 27th. Finally, Citigroup lowered their price objective on shares of Transocean from $4.50 to $3.50 and set a “neutral” rating for the company in a research report on Wednesday, March 19th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $4.98.

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.