Rhumbline Advisers Sells 39,582 Shares of Transocean Ltd. $RIG

Rhumbline Advisers trimmed its stake in Transocean Ltd. (NYSE:RIG) by 3.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,076,744 shares of the offshore drilling services provider’s stock after selling 39,582 shares during the period. Rhumbline Advisers owned 0.12% of Transocean worth $3,413,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Jump Financial LLC raised its stake in shares of Transocean by 156.2% in the 1st quarter. Jump Financial LLC now owns 1,489,600 shares of the offshore drilling services provider’s stock valued at $4,722,000 after acquiring an additional 908,219 shares in the last quarter. Gotham Asset Management LLC bought a new position in shares of Transocean in the 4th quarter valued at approximately $698,000. SG Americas Securities LLC raised its stake in shares of Transocean by 3,039.6% in the 1st quarter. SG Americas Securities LLC now owns 930,599 shares of the offshore drilling services provider’s stock valued at $2,950,000 after acquiring an additional 900,958 shares in the last quarter. Keybank National Association OH raised its stake in shares of Transocean by 14.2% in the 1st quarter. Keybank National Association OH now owns 13,480,351 shares of the offshore drilling services provider’s stock valued at $42,733,000 after acquiring an additional 1,672,958 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its stake in shares of Transocean by 594.6% in the 1st quarter. Exchange Traded Concepts LLC now owns 221,615 shares of the offshore drilling services provider’s stock valued at $703,000 after acquiring an additional 189,708 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

Transocean Price Performance

Transocean stock opened at $3.31 on Tuesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 1.26. The firm has a market cap of $3.12 billion, a P/E ratio of -1.78, a P/E/G ratio of 7.05 and a beta of 2.79. The business’s fifty day moving average is $2.97 and its two-hundred day moving average is $2.78. Transocean Ltd. has a 52 week low of $1.97 and a 52 week high of $4.76.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Barclays lifted their price target on Transocean from $3.50 to $4.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 13th. Wall Street Zen raised Transocean from a “sell” rating to a “hold” rating in a research report on Sunday, August 10th. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Transocean presently has a consensus rating of “Hold” and a consensus price target of $4.26.

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.