Dimensional Fund Advisors LP Sells 1,790,807 Shares of Transocean Ltd. (NYSE:RIG)

Dimensional Fund Advisors LP trimmed its holdings in shares of Transocean Ltd. (NYSE:RIG – Get Rating) by 10.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,334,407 shares of the offshore drilling services provider’s stock after selling 1,790,807 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Transocean were worth $37,877,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Renaissance Technologies LLC increased its holdings in shares of Transocean by 5,526.9% during the 1st quarter. Renaissance Technologies LLC now owns 7,872,028 shares of the offshore drilling services provider’s stock valued at $35,975,000 after acquiring an additional 7,732,128 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Transocean by 117.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 8,940,965 shares of the offshore drilling services provider’s stock valued at $40,861,000 after purchasing an additional 4,838,046 shares during the last quarter. Contrarius Investment Management Ltd raised its position in shares of Transocean by 19.6% in the third quarter. Contrarius Investment Management Ltd now owns 27,698,403 shares of the offshore drilling services provider’s stock valued at $68,415,000 after purchasing an additional 4,547,493 shares during the period. Bank of America Corp DE lifted its stake in shares of Transocean by 1,631.4% in the first quarter. Bank of America Corp DE now owns 2,880,625 shares of the offshore drilling services provider’s stock worth $13,166,000 after buying an additional 2,714,246 shares during the last quarter. Finally, PointState Capital LP bought a new stake in shares of Transocean during the 1st quarter worth $10,778,000. 55.16% of the stock is currently owned by institutional investors.

Insider Activity at Transocean

In other Transocean news, CAO David A. Tonnel sold 34,267 shares of Transocean stock in a transaction on Tuesday, January 10th. The stock was sold at an average price of $5.45, for a total transaction of $186,755.15. Following the completion of the transaction, the chief accounting officer now directly owns 291,608 shares of the company’s stock, valued at $1,589,263.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Transocean news, CAO David A. Tonnel sold 13,069 shares of Transocean stock in a transaction on Friday, January 6th. The stock was sold at an average price of $4.95, for a total value of $64,691.55. Following the completion of the transaction, the chief accounting officer now owns 325,875 shares in the company, valued at approximately $1,613,081.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO David A. Tonnel sold 34,267 shares of the stock in a transaction on Tuesday, January 10th. The stock was sold at an average price of $5.45, for a total value of $186,755.15. Following the sale, the chief accounting officer now owns 291,608 shares in the company, valued at approximately $1,589,263.60. The disclosure for this sale can be found here. Insiders have sold a total of 111,903 shares of company stock valued at $698,560 in the last 90 days. 12.29% of the stock is owned by corporate insiders.

Transocean Trading Up 1.3 %

Shares of RIG stock opened at $7.08 on Thursday. The firm has a fifty day moving average of $6.11 and a 200-day moving average of $4.48. The stock has a market cap of $5.14 billion, a price-to-earnings ratio of -8.05 and a beta of 2.93. Transocean Ltd. has a 52-week low of $2.32 and a 52-week high of $7.69. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.04 and a current ratio of 1.29.

Transocean (NYSE:RIG – Get Rating) last announced its quarterly earnings results on Tuesday, February 21st. The offshore drilling services provider reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.30). Transocean had a negative return on equity of 5.85% and a negative net margin of 24.12%. The business had revenue of $606.00 million for the quarter, compared to the consensus estimate of $620.89 million. During the same quarter in the prior year, the business earned ($0.19) EPS. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. On average, equities research analysts forecast that Transocean Ltd. will post -0.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on RIG. StockNews.com lowered shares of Transocean from a “hold” rating to a “sell” rating in a research report on Friday, February 17th. Barclays cut their price objective on Transocean from $7.00 to $6.00 in a research report on Thursday, February 23rd. Benchmark initiated coverage on Transocean in a report on Thursday, January 19th. They issued a “buy” rating and a $7.50 target price on the stock. Susquehanna upped their price target on Transocean from $5.50 to $6.00 and gave the stock a “neutral” rating in a report on Thursday, February 23rd. Finally, Piper Sandler raised their price objective on shares of Transocean from $4.00 to $5.00 and gave the stock a “neutral” rating in a research note on Friday, November 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.91.

Transocean Profile

(Get Rating)

Transocean Ltd. engages in the provision of offshore contract drilling services for oil and gas wells. It also owns and operates offshore drilling fleets such as ultra-deepwater, harsh environment, deepwater, and midwater rigs. The company was founded in 1953 and is headquartered in Steinhausen, Switzerland.