Transocean Ltd. (NYSE:RIG) is Kettle Hill Capital Management LLC’s 9th Largest Position

Kettle Hill Capital Management LLC increased its holdings in shares of Transocean Ltd. (NYSE:RIG) by 85.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,812,608 shares of the offshore drilling services provider’s stock after buying an additional 2,221,186 shares during the period. Transocean comprises approximately 3.9% of Kettle Hill Capital Management LLC’s investment portfolio, making the stock its 9th largest holding. Kettle Hill Capital Management LLC owned approximately 0.55% of Transocean worth $18,047,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in RIG. Twin Tree Management LP purchased a new position in shares of Transocean in the fourth quarter valued at approximately $27,000. Optiver Holding B.V. raised its stake in Transocean by 53.6% in the 4th quarter. Optiver Holding B.V. now owns 8,400 shares of the offshore drilling services provider’s stock valued at $32,000 after purchasing an additional 2,933 shares during the last quarter. Blue Trust Inc. lifted its holdings in Transocean by 96.2% in the 4th quarter. Blue Trust Inc. now owns 9,841 shares of the offshore drilling services provider’s stock valued at $37,000 after purchasing an additional 4,826 shares in the last quarter. Adero Partners LLC acquired a new stake in Transocean during the 4th quarter worth $38,000. Finally, Stratos Wealth Partners LTD. purchased a new stake in shares of Transocean during the fourth quarter worth $40,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Transocean Stock Up 4.8 %

Shares of RIG opened at $2.62 on Friday. The company has a current ratio of 1.47, a quick ratio of 1.34 and a debt-to-equity ratio of 0.60. The firm has a market cap of $2.31 billion, a P/E ratio of -3.59, a price-to-earnings-growth ratio of 0.86 and a beta of 2.52. The company’s 50-day moving average price is $2.63 and its 200 day moving average price is $3.47. Transocean Ltd. has a 12-month low of $1.97 and a 12-month high of $6.38.

Transocean (NYSE:RIG) last released its quarterly earnings results on Monday, April 28th. The offshore drilling services provider reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. The business had revenue of $906.00 million for the quarter, compared to the consensus estimate of $884.92 million. Transocean had a negative net margin of 14.53% and a negative return on equity of 0.52%. The business’s revenue was up 18.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.03) EPS. On average, sell-side analysts forecast that Transocean Ltd. will post 0.14 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on RIG. Morgan Stanley decreased their price target on shares of Transocean from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 27th. Susquehanna lowered their target price on Transocean from $5.00 to $4.00 and set a “positive” rating on the stock in a report on Monday, April 14th. Citigroup dropped their price target on Transocean from $4.50 to $3.50 and set a “neutral” rating for the company in a research report on Wednesday, March 19th. Barclays reduced their price objective on Transocean from $4.00 to $3.50 and set an “overweight” rating on the stock in a research report on Monday, April 7th. Finally, Evercore ISI cut Transocean from an “outperform” rating to an “in-line” rating and dropped their target price for the company from $6.00 to $5.00 in a report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $4.63.

Insiders Place Their Bets

In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of the business’s stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $2.23, for a total transaction of $49,060.00. Following the sale, the executive vice president now directly owns 362,841 shares in the company, valued at $809,135.43. This represents a 5.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 12.54% of the stock is owned by insiders.

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.