Russell Investments Group Ltd. Has $2.29 Million Holdings in Transocean Ltd. $RIG

Russell Investments Group Ltd. cut its position in Transocean Ltd. (NYSE:RIG) by 24.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 720,503 shares of the offshore drilling services provider’s stock after selling 236,523 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.08% of Transocean worth $2,285,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Nuveen LLC acquired a new position in Transocean in the 1st quarter valued at $7,774,000. Hosking Partners LLP grew its position in Transocean by 26.1% in the 1st quarter. Hosking Partners LLP now owns 2,150,664 shares of the offshore drilling services provider’s stock worth $6,818,000 after purchasing an additional 444,521 shares during the last quarter. Wealthspire Advisors LLC acquired a new stake in Transocean in the 1st quarter worth $105,000. Costello Asset Management INC acquired a new stake in Transocean in the 1st quarter worth $32,000. Finally, Cedar Wealth Management LLC grew its position in Transocean by 19.6% in the 1st quarter. Cedar Wealth Management LLC now owns 124,542 shares of the offshore drilling services provider’s stock worth $395,000 after purchasing an additional 20,414 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Barclays raised their price target on shares of Transocean from $3.50 to $4.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 13th. Morgan Stanley decreased their price target on shares of Transocean from $4.00 to $3.50 and set an “equal weight” rating on the stock in a research report on Friday, May 16th. Wall Street Zen upgraded shares of Transocean from a “sell” rating to a “hold” rating in a research report on Sunday, August 10th. Finally, BTIG Research set a $5.00 price target on shares of Transocean and gave the stock a “buy” rating in a research report on Monday, May 5th. Four investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, Transocean presently has a consensus rating of “Hold” and an average price target of $4.26.

Transocean Stock Performance

NYSE RIG opened at $3.10 on Tuesday. Transocean Ltd. has a 1-year low of $1.97 and a 1-year high of $5.11. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of -1.67, a PEG ratio of 6.50 and a beta of 2.52. The company has a current ratio of 1.26, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63. The company has a 50 day moving average of $2.87 and a 200-day moving average of $2.82.

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.