Oppenheimer & Co. Inc. Has $286,000 Position in Transocean Ltd. (NYSE:RIG)

Oppenheimer & Co. Inc. grew its position in Transocean Ltd. (NYSE:RIG) by 11.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 76,353 shares of the offshore drilling services provider’s stock after buying an additional 8,087 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Transocean were worth $286,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in shares of Transocean by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 17,245,298 shares of the offshore drilling services provider’s stock valued at $73,307,000 after purchasing an additional 680,242 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Transocean by 33.9% during 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 purchasing an additional 3,895,880 shares during the last quarter. State of New Jersey Common Pension Fund D grew its holdings in shares of Transocean by 25.2% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 499,801 shares of the offshore drilling services provider’s stock valued at $1,874,000 after purchasing an additional 100,691 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Transocean by 7.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,606,320 shares of the offshore drilling services provider’s stock valued at $49,327,000 after purchasing an additional 826,229 shares during the last quarter. Finally, Barclays PLC grew its holdings in shares of Transocean by 60.1% during the 3rd quarter. Barclays PLC now owns 1,623,924 shares of the offshore drilling services provider’s stock valued at $6,902,000 after purchasing an additional 609,681 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Roderick James Mackenzie sold 22,000 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $4.05, for a total transaction of $89,100.00. Following the completion of the transaction, the executive vice president now owns 229,596 shares in the company, valued at approximately $929,863.80. This represents a 8.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 13.16% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. TD Cowen reduced their target price on shares of Transocean from $6.50 to $5.50 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Evercore ISI lowered shares of Transocean from an “outperform” rating to an “in-line” rating and reduced their target price for the stock from $6.00 to $5.00 in a report on Wednesday, January 15th. StockNews.com raised shares of Transocean to a “sell” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. raised shares of Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 target price on the stock in a report on Friday, December 6th. Finally, Benchmark reissued a “hold” rating on shares of Transocean in a report on Tuesday, December 3rd. Two investment analysts have 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, Transocean has an average rating of “Hold” and a consensus price target of $5.75.

Transocean Stock Up 9.9 %

Transocean stock opened at $3.05 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. Transocean Ltd. has a 12-month low of $2.55 and a 12-month high of $6.88. The firm’s fifty day moving average is $3.66 and its 200 day moving average is $4.05. The company has a market capitalization of $2.68 billion, a PE ratio of -4.17, a PEG ratio of 0.86 and a beta of 2.72.

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

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.