Zurcher Kantonalbank Zurich Cantonalbank Has $986,000 Stock Holdings in Transocean Ltd. (NYSE:RIG)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Transocean Ltd. (NYSE:RIG) by 6.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 155,306 shares of the offshore drilling services provider’s stock after purchasing an additional 9,763 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Transocean were worth $986,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. 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 during the last quarter. Private Trust Co. NA lifted its position in shares of Transocean by 1,489.8% in the fourth quarter. Private Trust Co. NA now owns 8,537 shares of the offshore drilling services provider’s stock worth $54,000 after buying an additional 8,000 shares during the last quarter. Csenge Advisory Group acquired a new stake in shares of Transocean in the third quarter worth about $83,000. Southern Capital Advisors LLC acquired a new stake in shares of Transocean in the fourth quarter worth about $83,000. Finally, Joseph P. Lucia & Associates LLC acquired a new stake in shares of Transocean in the third quarter worth about $87,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Transocean Trading Up 2.3 %

Transocean stock opened at $5.87 on Monday. The business has a 50 day moving average price of $5.71 and a two-hundred day moving average price of $5.99. The company has a quick ratio of 1.22, a current ratio of 1.52 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 12 month low of $4.45 and a 12 month high of $8.88.

Transocean (NYSE:RIG) last posted its quarterly earnings results on Monday, February 19th. The offshore drilling services provider reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.12. The firm had revenue of $741.00 million during the quarter, compared to analysts’ expectations 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 posted ($0.49) EPS. As a group, equities analysts forecast that Transocean Ltd. will post 0.05 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on RIG. Citigroup reduced their price target on Transocean from $9.00 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, February 21st. StockNews.com raised Transocean to a “sell” rating in a research report on Tuesday, February 20th. Susquehanna raised 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 report on Monday, April 8th. Bank of America boosted their price objective on Transocean from $5.50 to $6.00 and gave the stock an “underperform” rating in a research report on Monday, April 15th. Finally, Morgan Stanley cut their price objective on Transocean from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Monday, February 26th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Transocean has an average rating of “Hold” and a consensus price target of $8.22.

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.