Jump Financial LLC Has $2.18 Million Position in Transocean Ltd. (NYSE:RIG)

Jump Financial LLC raised its position in Transocean Ltd. (NYSE:RIG) by 75.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 581,381 shares of the offshore drilling services provider’s stock after buying an additional 250,571 shares during the quarter. Jump Financial LLC’s holdings in Transocean were worth $2,180,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Twin Tree Management LP bought a new stake in shares of Transocean during the 4th quarter valued at approximately $27,000. Blue Trust Inc. lifted its holdings in Transocean by 96.2% in the fourth quarter. Blue Trust Inc. now owns 9,841 shares of the offshore drilling services provider’s stock valued at $37,000 after buying an additional 4,826 shares during the period. Adero Partners LLC bought a new stake in shares of Transocean during the 4th quarter valued at about $38,000. Stratos Wealth Partners LTD. bought a new position in shares of Transocean during the 4th quarter worth approximately $40,000. Finally, R Squared Ltd acquired a new stake in Transocean in the fourth quarter worth $41,000. 67.73% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of the business’s stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $2.23, for a total value of $49,060.00. Following the completion of the sale, the executive vice president now owns 362,841 shares in the company, valued at approximately $809,135.43. The trade was a 5.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 13.16% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on RIG. SEB Equity Research set a $2.80 price objective on Transocean in a research note on Wednesday, March 5th. Evercore ISI lowered shares of Transocean from an “outperform” rating to an “in-line” rating and decreased their price objective for the company from $6.00 to $5.00 in a research note on Wednesday, January 15th. TD Cowen lowered their target price on Transocean from $6.50 to $5.50 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Citigroup dropped their price objective on Transocean from $4.50 to $3.50 and set a “neutral” rating on the stock in a research note on Wednesday, March 19th. Finally, Susquehanna cut their target price on shares of Transocean from $5.00 to $4.00 and set a “positive” rating for the company in a research report on Monday, April 14th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $4.59.

Transocean Price Performance

Shares of NYSE RIG opened at $2.28 on Friday. Transocean Ltd. has a twelve month low of $1.97 and a twelve month high of $6.38. 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 firm has a market capitalization of $2.01 billion, a P/E ratio of -3.12, a P/E/G ratio of 0.86 and a beta of 2.29. The stock’s 50-day simple moving average is $2.92 and its two-hundred day simple moving average is $3.68.

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

Transocean Company 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.