Transocean LTD (NYSE:RIG) Position Trimmed by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. lessened its holdings in shares of Transocean LTD (NYSE:RIG) by 10.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,919,493 shares of the offshore drilling services provider’s stock after selling 214,767 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.31% of Transocean worth $12,225,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Icon Wealth Partners LLC purchased a new position in Transocean during the 1st quarter valued at about $38,000. Nisa Investment Advisors LLC purchased a new position in Transocean during the 1st quarter valued at about $44,000. Mercer Global Advisors Inc. ADV purchased a new position in Transocean during the 1st quarter valued at about $70,000. Quinn Opportunity Partners LLC purchased a new position in Transocean during the 1st quarter valued at about $87,000. Finally, MinichMacGregor Wealth Management LLC purchased a new position in Transocean during the 1st quarter valued at about $92,000. 70.90% of the stock is currently owned by institutional investors.

In related news, CAO Howard E. Davis bought 98,049 shares of Transocean stock in a transaction that occurred on Friday, June 28th. The stock was purchased at an average cost of $6.35 per share, for a total transaction of $622,611.15. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Vanessa C. L. Chang bought 4,300 shares of Transocean stock in a transaction that occurred on Thursday, June 6th. The stock was bought at an average price of $5.92 per share, with a total value of $25,456.00. Following the completion of the acquisition, the director now owns 14,000 shares in the company, valued at approximately $82,880. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 112,349 shares of company stock valued at $721,567. Corporate insiders own 11.05% of the company’s stock.

Several research firms have weighed in on RIG. Royal Bank of Canada set a $17.00 target price on Transocean and gave the company a “buy” rating in a research note on Wednesday, July 31st. Piper Jaffray Companies set a $8.00 price target on Transocean and gave the company a “hold” rating in a report on Wednesday, July 31st. Morgan Stanley set a $10.00 price target on Transocean and gave the company a “buy” rating in a report on Monday, July 15th. ValuEngine upgraded Transocean from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Citigroup lowered Transocean from a “buy” rating to a “neutral” rating and set a $7.00 price target for the company. in a report on Friday, June 14th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $12.16.

RIG traded down $0.37 on Monday, hitting $4.91. The company had a trading volume of 433,523 shares, compared to its average volume of 16,642,808. The stock’s fifty day simple moving average is $6.02. Transocean LTD has a 1-year low of $5.16 and a 1-year high of $14.47. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.37 and a current ratio of 2.88. The company has a market capitalization of $3.23 billion, a PE ratio of -6.23 and a beta of 1.76.

Transocean (NYSE:RIG) last posted its earnings results on Monday, July 29th. The offshore drilling services provider reported ($0.34) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.34). Transocean had a negative return on equity of 4.18% and a negative net margin of 33.49%. The firm had revenue of $758.00 million during the quarter, compared to analyst estimates of $765.81 million. During the same period in the previous year, the company earned ($0.04) EPS. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. Analysts expect that Transocean LTD will post -1 earnings per share for the current fiscal year.

About Transocean

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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Institutional Ownership by Quarter for Transocean (NYSE:RIG)

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