Aster Capital Management DIFC Ltd Purchases 174,318 Shares of Transocean Ltd. (NYSE:RIG)

Aster Capital Management DIFC Ltd lifted its position in shares of Transocean Ltd. (NYSE:RIG) by 238,791.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 174,391 shares of the offshore drilling services provider’s stock after acquiring an additional 174,318 shares during the quarter. Aster Capital Management DIFC Ltd’s holdings in Transocean were worth $654,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. American Century Companies Inc. increased its stake in shares of Transocean by 51.5% in the fourth quarter. American Century Companies Inc. now owns 19,257,437 shares of the offshore drilling services provider’s stock worth $72,215,000 after purchasing an additional 6,542,271 shares in the last quarter. Van ECK Associates Corp grew its stake in Transocean by 33.9% in the 4th quarter. Van ECK Associates Corp now owns 15,393,873 shares of the offshore drilling services provider’s stock valued at $57,727,000 after buying an additional 3,895,880 shares in the last quarter. Madison Investment Advisors LLC bought a new stake in Transocean during the 4th quarter valued at $11,156,000. State Street Corp lifted its position in shares of Transocean by 11.0% during the third quarter. State Street Corp now owns 19,594,121 shares of the offshore drilling services provider’s stock worth $83,275,000 after acquiring an additional 1,944,723 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Transocean by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 78,811,863 shares of the offshore drilling services provider’s stock worth $295,544,000 after acquiring an additional 931,684 shares during the period. 67.73% of the stock is currently owned by institutional investors.

Transocean Trading Down 21.1 %

NYSE RIG opened at $2.15 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.47 and a debt-to-equity ratio of 0.60. The stock’s 50-day simple moving average is $3.30 and its two-hundred day simple moving average is $3.85. Transocean Ltd. has a twelve month low of $2.11 and a twelve month high of $6.88. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of -2.94, a PEG ratio of 0.86 and a beta of 2.72.

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

Analyst Ratings Changes

RIG has been the topic of a number of analyst reports. Barclays decreased their price objective on Transocean from $4.50 to $4.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 25th. Morgan Stanley lowered their price target on shares of Transocean from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Thursday, March 27th. Evercore ISI cut shares of Transocean from an “outperform” rating to an “in-line” rating and reduced their price objective for the company from $6.00 to $5.00 in a research note on Wednesday, January 15th. SEB Equity Research set a $2.80 target price on shares of Transocean in a research note on Wednesday, March 5th. Finally, TD Cowen reduced their price target on shares of Transocean from $6.50 to $5.50 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $5.03.

Insider Transactions at Transocean

In other news, EVP Roderick James Mackenzie sold 22,000 shares of Transocean 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 transaction, the executive vice president now owns 313,072 shares in the company, valued at approximately $1,205,327.20. The trade was a 6.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 12.54% of the company’s stock.

Transocean Profile

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.