Nomura Asset Management Co. Ltd. lowered its holdings in shares of Transocean LTD (NYSE:RIG) by 44.4% during the first quarter, HoldingsChannel reports. The institutional investor owned 15,800 shares of the offshore drilling services provider’s stock after selling 12,600 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Transocean were worth $138,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc boosted its position in shares of Transocean by 0.3% during the third quarter. Vanguard Group Inc now owns 38,625,518 shares of the offshore drilling services provider’s stock valued at $538,826,000 after buying an additional 118,330 shares during the last quarter. Strs Ohio grew its position in Transocean by 63.7% during the fourth quarter. Strs Ohio now owns 31,497 shares of the offshore drilling services provider’s stock worth $218,000 after buying an additional 12,257 shares in the last quarter. Sigma Planning Corp purchased a new position in Transocean during the fourth quarter worth about $72,000. Rhumbline Advisers grew its position in Transocean by 81.2% during the fourth quarter. Rhumbline Advisers now owns 1,279,793 shares of the offshore drilling services provider’s stock worth $8,882,000 after buying an additional 573,475 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its holdings in shares of Transocean by 56.8% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 586,097 shares of the offshore drilling services provider’s stock worth $4,068,000 after purchasing an additional 212,315 shares in the last quarter. 70.70% of the stock is owned by institutional investors and hedge funds.
Shares of RIG traded down $0.23 during trading hours on Wednesday, reaching $5.67. 301,407 shares of the company traded hands, compared to its average volume of 13,850,440. The firm has a market capitalization of $3.48 billion, a PE ratio of -7.23 and a beta of 1.83. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.72 and a quick ratio of 2.37. Transocean LTD has a 12-month low of $5.87 and a 12-month high of $14.47.
In other news, Director Vincent J. Intrieri purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was acquired at an average price of $7.35 per share, for a total transaction of $73,500.00. Following the acquisition, the director now directly owns 19,900 shares of the company’s stock, valued at $146,265. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Vanessa C. L. Chang purchased 4,300 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were purchased at an average price of $5.92 per share, with a total value of $25,456.00. Following the acquisition, the director now directly owns 14,000 shares in the company, valued at $82,880. The disclosure for this purchase can be found here. 11.05% of the stock is owned by corporate insiders.
Several equities research analysts recently weighed in on the company. Bank of America assumed coverage on Transocean in a report on Monday. They set a “neutral” rating and a $6.50 target price for the company. Goldman Sachs Group began coverage on Transocean in a research report on Sunday, March 10th. They issued a “buy” rating and a $11.00 target price for the company. Zacks Investment Research lowered Transocean from a “hold” rating to a “sell” rating in a research report on Tuesday, February 26th. Finally, Barclays reaffirmed an “underweight” rating on shares of Transocean in a research report on Thursday, February 21st. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company. Transocean has an average rating of “Hold” and an average target price of $13.18.
Transocean Company Profile
Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. The company primarily offers drilling rigs, related equipment, and work crews; and ultra-deepwater and harsh environment drilling services. As of February 18, 2019, it owned or had partial ownership interests in, and operated 48 mobile offshore drilling units that consist of 31 ultra-deepwater floaters, 13 harsh environment floaters, and 4 midwater floaters.
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