Lane Generational LLC Purchases 277,552 Shares of Transocean Ltd. (NYSE:RIG)

Lane Generational LLC lifted its position in shares of Transocean Ltd. (NYSE:RIG) by 36.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,044,629 shares of the offshore drilling services provider’s stock after purchasing an additional 277,552 shares during the period. Transocean accounts for approximately 3.8% of Lane Generational LLC’s investment portfolio, making the stock its 13th biggest holding. Lane Generational LLC owned approximately 0.12% of Transocean worth $3,917,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Hosking Partners LLP grew its position in Transocean by 23.5% during the fourth quarter. Hosking Partners LLP now owns 1,706,143 shares of the offshore drilling services provider’s stock worth $6,398,000 after buying an additional 324,955 shares in the last quarter. Geode Capital Management LLC grew its position in Transocean by 4.1% during the third quarter. Geode Capital Management LLC now owns 17,245,298 shares of the offshore drilling services provider’s stock worth $73,307,000 after buying an additional 680,242 shares in the last quarter. Van ECK Associates Corp grew its position in Transocean by 33.9% during the fourth quarter. Van ECK Associates Corp now owns 15,393,873 shares of the offshore drilling services provider’s stock worth $57,727,000 after buying an additional 3,895,880 shares in the last quarter. State of New Jersey Common Pension Fund D grew its position in Transocean by 25.2% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 499,801 shares of the offshore drilling services provider’s stock worth $1,874,000 after buying an additional 100,691 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Transocean by 7.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 11,606,320 shares of the offshore drilling services provider’s stock worth $49,327,000 after buying an additional 826,229 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Transocean Stock Down 1.2 %

Shares of NYSE:RIG opened at $2.95 on Wednesday. The firm has a market cap of $2.59 billion, a P/E ratio of -4.03, a P/E/G ratio of 0.86 and a beta of 2.72. The company has a quick ratio of 1.34, a current ratio of 1.47 and a debt-to-equity ratio of 0.60. Transocean Ltd. has a 12-month low of $2.55 and a 12-month high of $6.88. The business has a fifty day simple moving average of $3.63 and a 200 day simple moving average of $4.02.

Transocean (NYSE:RIG) last announced its earnings results on Monday, February 17th. The offshore drilling services provider reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.11). The company had revenue of $952.00 million for the quarter, compared to the consensus estimate of $962.28 million. Transocean had a negative return on equity of 0.52% and a negative net margin of 14.53%. Analysts predict that Transocean Ltd. will post 0.14 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RIG. Benchmark reaffirmed a “hold” rating on shares of Transocean in a report on Tuesday, December 3rd. Barclays reduced their target price on Transocean from $4.50 to $4.00 and set an “overweight” rating on the stock in a report on Tuesday, February 25th. TD Cowen reduced their target price on Transocean from $6.50 to $5.50 and set a “hold” rating on the stock in a report on Wednesday, January 8th. JPMorgan Chase & Co. raised Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 target price on the stock in a report on Friday, December 6th. Finally, StockNews.com raised Transocean to a “sell” rating in a report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $5.42.

Insider Transactions at Transocean

In other news, EVP Roderick James Mackenzie sold 22,000 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $3.85, for a total value of $84,700.00. Following the completion of the sale, the executive vice president now directly owns 313,072 shares in the company, valued at $1,205,327.20. This trade represents a 6.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 13.16% of the company’s stock.

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.