Kentucky Retirement Systems Insurance Trust Fund Buys New Holdings in Transocean Ltd. (NYSE:RIG)

Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Transocean Ltd. (NYSE:RIG) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 12,003 shares of the offshore drilling services provider’s stock, valued at approximately $45,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. raised 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 acquiring an additional 4,826 shares in the last quarter. Adero Partners LLC acquired a new stake in Transocean during the fourth quarter worth approximately $38,000. Stratos Wealth Partners LTD. acquired a new stake in Transocean during the fourth quarter worth approximately $40,000. R Squared Ltd acquired a new stake in Transocean during the fourth quarter worth approximately $41,000. Finally, Orion Portfolio Solutions LLC acquired a new stake in Transocean during the third quarter worth approximately $46,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Buying and Selling

In related news, EVP Roderick James Mackenzie sold 22,000 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $3.85, for a total value of $84,700.00. Following the sale, the executive vice president now directly owns 313,072 shares in the company, valued at $1,205,327.20. The trade was a 6.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 13.16% of the company’s stock.

Transocean Price Performance

Shares of NYSE RIG opened at $3.57 on Friday. The firm has a market capitalization of $3.12 billion, a P/E ratio of -4.88, a PEG ratio of 0.85 and a beta of 2.70. Transocean Ltd. has a one year low of $3.38 and a one year high of $6.88. The company’s fifty day moving average is $3.80 and its two-hundred day moving average is $4.22. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.34 and a current ratio of 1.64.

Transocean (NYSE:RIG) last issued its earnings results on Monday, February 17th. The offshore drilling services provider reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.11). The company had revenue of $952.00 million for the quarter, compared to analysts’ expectations of $962.28 million. Transocean had a negative return on equity of 0.51% and a negative net margin of 14.53%. Analysts forecast that Transocean Ltd. will post 0.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on RIG shares. StockNews.com raised shares of Transocean to a “sell” rating in a report on Tuesday, November 12th. Barclays raised shares of Transocean from an “equal weight” rating to an “overweight” rating and set a $4.50 price objective on the stock in a report on Wednesday, December 18th. Susquehanna cut their price objective on shares of Transocean from $7.00 to $6.50 and set a “positive” rating on the stock in a report on Friday, November 1st. TD Cowen cut their price objective 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. Finally, Evercore ISI cut shares of Transocean from an “outperform” rating to an “in-line” rating and cut their target price for the company from $6.00 to $5.00 in a report on Wednesday, January 15th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.94.

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.