American Century Companies Inc. Acquires 2,623,615 Shares of Transocean Ltd. (NYSE:RIG)

American Century Companies Inc. lifted its stake in Transocean Ltd. (NYSE:RIG) by 24.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,437,572 shares of the offshore drilling services provider’s stock after acquiring an additional 2,623,615 shares during the period. American Century Companies Inc. owned approximately 1.43% of Transocean worth $71,891,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. OLD Point Trust & Financial Services N A acquired a new stake in Transocean in the 4th quarter worth $25,000. Nisa Investment Advisors LLC bought a new stake in shares of Transocean in the second quarter valued at about $30,000. Fiducient Advisors LLC acquired a new stake in Transocean during the first quarter worth about $63,000. SG Americas Securities LLC bought a new position in Transocean during the second quarter valued at about $64,000. Finally, Fermata Advisors LLC acquired a new position in Transocean in the 1st quarter valued at approximately $75,000. Institutional investors own 67.73% of the company’s stock.

Insider Activity

In related news, Director (Cyprus) Ltd Perestroika bought 2,000,000 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was bought at an average cost of $5.23 per share, with a total value of $10,460,000.00. Following the completion of the purchase, the director now owns 89,574,894 shares in the company, valued at approximately $468,476,695.62. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director (Cyprus) Ltd Perestroika bought 2,000,000 shares of the stock in a transaction dated Friday, August 2nd. The stock was bought at an average cost of $5.23 per share, with a total value of $10,460,000.00. Following the purchase, the director now owns 89,574,894 shares of the company’s stock, valued at $468,476,695.62. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Perestroika purchased 1,500,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were purchased at an average cost of $4.13 per share, for a total transaction of $6,195,000.00. Following the purchase, the director now directly owns 91,074,894 shares of the company’s stock, valued at $376,139,312.22. The disclosure for this purchase can be found here. 13.16% of the stock is currently owned by corporate insiders.

Transocean Price Performance

NYSE:RIG opened at $4.13 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.36 and a debt-to-equity ratio of 0.63. The firm has a market cap of $3.62 billion, a PE ratio of -7.94 and a beta of 2.79. Transocean Ltd. has a 12 month low of $3.85 and a 12 month high of $8.88. The company’s 50-day moving average price is $5.02 and its two-hundred day moving average price is $5.46.

Transocean (NYSE:RIG) last announced its earnings results on Wednesday, July 31st. The offshore drilling services provider reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.07). Transocean had a negative return on equity of 4.76% and a negative net margin of 11.34%. The business had revenue of $861.00 million during the quarter, compared to analyst estimates of $862.25 million. During the same period in the previous year, the firm earned ($0.15) earnings per share. The firm’s revenue was up 18.1% compared to the same quarter last year. On average, equities analysts anticipate that Transocean Ltd. will post -0.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. DNB Markets upgraded Transocean from a “hold” rating to a “buy” rating in a research report on Tuesday, September 3rd. Citigroup lowered shares of Transocean from a “buy” rating to a “neutral” rating in a report on Thursday. StockNews.com raised shares of Transocean to a “sell” rating in a report on Monday, August 5th. Finally, Benchmark reissued a “buy” rating and issued a $8.00 target price on shares of Transocean in a research note on Friday, August 2nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $7.25.

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.