Lisanti Capital Growth LLC Trims Stock Position in Transocean Ltd. (NYSE:RIG)

Lisanti Capital Growth LLC lowered its stake in Transocean Ltd. (NYSE:RIG) by 94.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 90,810 shares of the offshore drilling services provider’s stock after selling 1,680,012 shares during the period. Lisanti Capital Growth LLC’s holdings in Transocean were worth $577,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Private Advisor Group LLC lifted its position in Transocean by 30.0% in the fourth quarter. Private Advisor Group LLC now owns 43,380 shares of the offshore drilling services provider’s stock valued at $275,000 after purchasing an additional 10,009 shares during the period. Fisher Asset Management LLC boosted its stake in shares of Transocean by 11.0% in the fourth quarter. Fisher Asset Management LLC now owns 27,714 shares of the offshore drilling services provider’s stock valued at $176,000 after buying an additional 2,743 shares in the last quarter. Triumph Capital Management acquired a new position in Transocean during the fourth quarter worth $318,000. Van ECK Associates Corp raised its position in Transocean by 11.3% in the fourth quarter. Van ECK Associates Corp now owns 15,908,217 shares of the offshore drilling services provider’s stock worth $101,017,000 after acquiring an additional 1,616,690 shares in the last quarter. Finally, Sargent Investment Group LLC boosted its position in shares of Transocean by 16.5% during the 4th quarter. Sargent Investment Group LLC now owns 74,130 shares of the offshore drilling services provider’s stock worth $471,000 after purchasing an additional 10,500 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Transocean Stock Up 1.0 %

NYSE:RIG traded up $0.05 on Tuesday, reaching $5.73. The stock had a trading volume of 11,445,947 shares, compared to its average volume of 18,207,990. Transocean Ltd. has a 12-month low of $4.45 and a 12-month high of $8.88. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.35 and a quick ratio of 1.04. The firm’s fifty day moving average is $5.79 and its two-hundred day moving average is $5.91.

Transocean (NYSE:RIG) last announced its quarterly earnings data on Monday, April 29th. The offshore drilling services provider reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.10. The business had revenue of $767.00 million for the quarter, compared to the consensus estimate of $781.86 million. Transocean had a negative net margin of 13.27% and a negative return on equity of 4.67%. The company’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.38) earnings per share. On average, analysts anticipate that Transocean Ltd. will post 0.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on RIG. Benchmark reiterated a “buy” rating and issued a $8.00 price objective on shares of Transocean in a research note on Tuesday, April 30th. Bank of America raised their price objective on Transocean from $5.50 to $6.00 and gave the company an “underperform” rating in a research note on Monday, April 15th. Barclays decreased their target price on Transocean from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 22nd. Morgan Stanley cut their price target on Transocean from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Monday, February 26th. Finally, Evercore ISI dropped their target price on shares of Transocean from $9.00 to $7.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $7.70.

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.