Mackenzie Financial Corp Boosts Stock Position in Transocean Ltd. (NYSE:RIG)

Mackenzie Financial Corp raised its stake in Transocean Ltd. (NYSE:RIG) by 96.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 983,497 shares of the offshore drilling services provider’s stock after buying an additional 482,537 shares during the quarter. Mackenzie Financial Corp’s holdings in Transocean were worth $6,245,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. LaFleur & Godfrey LLC grew its stake in Transocean by 13.3% in the third quarter. LaFleur & Godfrey LLC now owns 15,300 shares of the offshore drilling services provider’s stock valued at $126,000 after purchasing an additional 1,800 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its stake in shares of Transocean by 16.2% during the third quarter. B. Riley Wealth Advisors Inc. now owns 14,371 shares of the offshore drilling services provider’s stock worth $118,000 after acquiring an additional 2,000 shares during the last quarter. 180 Wealth Advisors LLC grew its stake in shares of Transocean by 7.4% during the fourth quarter. 180 Wealth Advisors LLC now owns 31,496 shares of the offshore drilling services provider’s stock worth $197,000 after acquiring an additional 2,170 shares during the last quarter. IHT Wealth Management LLC grew its stake in shares of Transocean by 13.7% during the fourth quarter. IHT Wealth Management LLC now owns 19,212 shares of the offshore drilling services provider’s stock worth $88,000 after acquiring an additional 2,317 shares during the last quarter. Finally, Snowden Capital Advisors LLC grew its stake in shares of Transocean by 6.4% during the first quarter. Snowden Capital Advisors LLC now owns 41,657 shares of the offshore drilling services provider’s stock worth $265,000 after acquiring an additional 2,500 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

RIG has been the topic of a number of research analyst reports. Susquehanna upgraded Transocean from a “neutral” rating to a “positive” rating and boosted their price target for the stock from $5.50 to $9.00 in a research note on Monday, April 8th. Barclays dropped their price target on Transocean from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 22nd. StockNews.com upgraded Transocean to a “sell” rating in a research note on Tuesday, February 20th. Morgan Stanley decreased their target price on Transocean from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Monday, February 26th. Finally, Citigroup decreased their target price on Transocean from $9.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday, February 21st. 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 company’s stock. According to data from MarketBeat, Transocean has an average rating of “Hold” and an average price target of $8.22.

Transocean Stock Up 2.2 %

Shares of NYSE:RIG opened at $5.67 on Friday. Transocean Ltd. has a 12-month low of $4.45 and a 12-month high of $8.88. The business has a 50 day moving average of $5.64 and a two-hundred day moving average of $6.07. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.22.

Transocean (NYSE:RIG) last announced its quarterly earnings results on Monday, February 19th. The offshore drilling services provider reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.12. Transocean had a negative return on equity of 7.13% and a negative net margin of 33.69%. The company had revenue of $741.00 million during the quarter, compared to the consensus estimate of $779.17 million. During the same period in the previous year, the company posted ($0.49) earnings per share. As a group, research analysts expect that Transocean Ltd. will post 0.02 earnings per share for the current fiscal year.

About Transocean

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.