Keybank National Association OH Has $35.17 Million Stake in Transocean Ltd. $RIG

Keybank National Association OH increased its holdings in shares of Transocean Ltd. (NYSE:RIG) by 4.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,273,454 shares of the offshore drilling services provider’s stock after acquiring an additional 436,444 shares during the quarter. Keybank National Association OH’s holdings in Transocean were worth $35,173,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. increased its holdings in shares of Transocean by 88.9% in the first quarter. Goldman Sachs Group Inc. now owns 12,151,817 shares of the offshore drilling services provider’s stock valued at $38,521,000 after purchasing an additional 5,719,637 shares during the last quarter. Jump Financial LLC grew its stake in Transocean by 288.1% in the 2nd quarter. Jump Financial LLC now owns 5,780,571 shares of the offshore drilling services provider’s stock valued at $14,972,000 after buying an additional 4,290,971 shares during the last quarter. Paloma Partners Management Co raised its holdings in Transocean by 288.9% in the 2nd quarter. Paloma Partners Management Co now owns 4,200,000 shares of the offshore drilling services provider’s stock valued at $10,878,000 after acquiring an additional 3,120,000 shares during the period. Cubist Systematic Strategies LLC lifted its position in Transocean by 89.2% during the second quarter. Cubist Systematic Strategies LLC now owns 4,589,083 shares of the offshore drilling services provider’s stock worth $11,886,000 after acquiring an additional 2,164,158 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in Transocean by 9.8% during the second quarter. American Century Companies Inc. now owns 23,449,768 shares of the offshore drilling services provider’s stock worth $60,735,000 after acquiring an additional 2,101,673 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on RIG. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Transocean in a research report on Thursday, January 22nd. Morgan Stanley set a $4.50 price target on Transocean in a research note on Monday, December 15th. Citigroup increased their price objective on Transocean from $4.25 to $4.50 and gave the stock a “neutral” rating in a research report on Thursday, December 11th. Susquehanna boosted their target price on shares of Transocean from $4.50 to $5.00 and gave the company a “positive” rating in a research report on Wednesday, January 7th. Finally, Barclays raised their price target on shares of Transocean from $4.00 to $4.50 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Transocean currently has an average rating of “Hold” and a consensus target price of $4.38.

Transocean Stock Performance

NYSE:RIG opened at $4.98 on Friday. The company has a market cap of $5.48 billion, a price-to-earnings ratio of -1.52 and a beta of 1.36. Transocean Ltd. has a fifty-two week low of $1.97 and a fifty-two week high of $5.17. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.91 and a current ratio of 1.08. The stock has a fifty day moving average price of $4.31 and a 200-day moving average price of $3.66.

Transocean (NYSE:RIG) last posted its quarterly earnings results on Wednesday, October 29th. The offshore drilling services provider reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. Transocean had a positive return on equity of 0.45% and a negative net margin of 75.71%.The business had revenue of ($1,894.00) million during the quarter, compared to the consensus estimate of $1.01 billion. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, equities analysts anticipate that Transocean Ltd. will post 0.14 EPS for the current fiscal year.

Insider Transactions at Transocean

In other news, Director Frederik Wilhelm Mohn bought 1,500,000 shares of the company’s stock in a transaction dated Monday, November 24th. The stock was bought at an average cost of $4.02 per share, for a total transaction of $6,030,000.00. Following the transaction, the director owned 96,574,894 shares of the company’s stock, valued at $388,231,073.88. This represents a 1.58% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Roderick James Mackenzie sold 35,000 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $4.48, for a total transaction of $156,800.00. Following the sale, the executive vice president owned 212,072 shares in the company, valued at $950,082.56. This represents a 14.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 712,970 shares of company stock worth $3,152,132. Corporate insiders own 12.27% of the company’s stock.

About Transocean

Transocean Ltd. is a leading international provider of offshore contract drilling services for the oil and gas industry. The company specializes in the operation of mobile drilling units, including ultra-deepwater drillships, semisubmersible rigs and high-specification jackup rigs. Transocean’s fleet is designed to meet complex drilling requirements, from ultra-deepwater well construction to shelf exploration and development projects.

The company’s core services encompass the full spectrum of offshore drilling operations, including project and engineering management, marine operations, drilling supervision, and maintenance support.