Wellington Management Group LLP Sells 997,770 Shares of Transocean Ltd. (NYSE:RIG)

Wellington Management Group LLP lowered its stake in shares of Transocean Ltd. (NYSE:RIGFree Report) by 72.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 382,247 shares of the offshore drilling services provider’s stock after selling 997,770 shares during the quarter. Wellington Management Group LLP’s holdings in Transocean were worth $3,138,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its position in Transocean by 446.5% during the third quarter. Tower Research Capital LLC TRC now owns 10,996 shares of the offshore drilling services provider’s stock valued at $27,000 after purchasing an additional 8,984 shares in the last quarter. VisionPoint Advisory Group LLC bought a new stake in Transocean during the second quarter valued at about $31,000. IHT Wealth Management LLC boosted its position in Transocean by 38.8% during the third quarter. IHT Wealth Management LLC now owns 16,895 shares of the offshore drilling services provider’s stock valued at $42,000 after purchasing an additional 4,719 shares in the last quarter. National Bank of Canada FI boosted its position in Transocean by 3,800.0% during 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 purchasing an additional 5,700 shares in the last quarter. Finally, Resurgent Financial Advisors LLC bought a new stake in Transocean during the fourth quarter valued at about $46,000. Institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on RIG shares. Citigroup lowered their price target on Transocean from $9.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday, February 21st. StockNews.com raised Transocean to a “sell” rating in a report on Tuesday, February 20th. Barclays lowered their price target on Transocean from $7.00 to $6.00 and set an “equal weight” rating for the company in a report on Thursday, February 22nd. Susquehanna lowered their price target on Transocean from $6.50 to $5.50 and set a “neutral” rating for the company in a report on Wednesday, February 21st. Finally, Morgan Stanley lowered their price target on Transocean from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Monday, February 26th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Transocean has an average rating of “Hold” and an average price target of $8.06.

View Our Latest Analysis on Transocean

Transocean Price Performance

Shares of NYSE RIG opened at $6.26 on Thursday. The business’s 50 day moving average price is $5.35 and its 200 day moving average price is $6.31. The firm has a market cap of $5.06 billion, a P/E ratio of -4.93 and a beta of 2.75. Transocean Ltd. has a 52 week low of $4.45 and a 52 week high of $8.88. The company has a quick ratio of 1.22, a current ratio of 1.52 and a debt-to-equity ratio of 0.68.

Transocean (NYSE:RIGGet Free Report) last issued its earnings results on Monday, February 19th. The offshore drilling services provider reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.12. The firm had revenue of $741.00 million for the quarter, compared to analyst estimates of $779.17 million. Transocean had a negative return on equity of 7.13% and a negative net margin of 33.69%. During the same quarter in the prior year, the firm earned ($0.49) earnings per share. On average, sell-side analysts expect that Transocean Ltd. will post 0.09 earnings per share for the current year.

Transocean Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Transocean (NYSE:RIG)

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