Franklin Resources Inc. Has $426,000 Position in Transocean Ltd. $RIG

Franklin Resources Inc. lifted its holdings in Transocean Ltd. (NYSE:RIG) by 299.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 164,517 shares of the offshore drilling services provider’s stock after acquiring an additional 123,379 shares during the quarter. Franklin Resources Inc.’s holdings in Transocean were worth $426,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of RIG. Dimensional Fund Advisors LP lifted its stake in Transocean by 1.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 40,660,439 shares of the offshore drilling services provider’s stock worth $128,894,000 after acquiring an additional 651,843 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Transocean by 10.9% in the 1st quarter. American Century Companies Inc. now owns 21,348,095 shares of the offshore drilling services provider’s stock valued at $67,673,000 after purchasing an additional 2,090,658 shares during the period. Geode Capital Management LLC lifted its position in shares of Transocean by 1.8% in the second quarter. Geode Capital Management LLC now owns 18,095,187 shares of the offshore drilling services provider’s stock worth $46,873,000 after purchasing an additional 313,670 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Transocean by 88.9% during the first quarter. Goldman Sachs Group Inc. now owns 12,151,817 shares of the offshore drilling services provider’s stock valued at $38,521,000 after purchasing an additional 5,719,637 shares in the last quarter. Finally, Ion Asset Management Ltd. increased its stake in Transocean by 7.5% in the 1st quarter. Ion Asset Management Ltd. now owns 4,300,000 shares of the offshore drilling services provider’s stock valued at $13,631,000 after buying an additional 300,000 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

Transocean Stock Performance

RIG opened at $4.44 on Tuesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.91 and a current ratio of 1.08. The company has a market cap of $4.89 billion, a PE ratio of -1.35 and a beta of 1.39. The stock has a 50-day moving average of $3.81 and a 200-day moving average of $3.25. Transocean Ltd. has a 52-week low of $1.97 and a 52-week high of $4.55.

Transocean (NYSE:RIG) last issued its quarterly earnings data on Wednesday, October 29th. The offshore drilling services provider reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. The business had revenue of ($1,894.00) million for the quarter, compared to the consensus estimate of $1.01 billion. Transocean had a positive return on equity of 0.45% and a negative net margin of 75.71%.The firm’s revenue was up 8.4% compared to the same quarter last year. As a group, equities research analysts forecast that Transocean Ltd. will post 0.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on RIG. Barclays lifted their target price on shares of Transocean from $4.00 to $4.50 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Citigroup increased their price objective on Transocean from $3.50 to $4.25 and gave the stock a “neutral” rating in a report on Friday, November 14th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Transocean in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $4.32.

Insider Buying and Selling

In other news, Director Frederik Wilhelm Mohn bought 4,000,000 shares of the company’s stock in a transaction that occurred on Friday, September 26th. The shares were purchased at an average price of $3.05 per share, for a total transaction of $12,200,000.00. Following the acquisition, the director directly owned 95,074,894 shares of the company’s stock, valued at $289,978,426.70. The trade was a 4.39% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Jeremy D. Thigpen sold 500,000 shares of the business’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $4.32, for a total transaction of $2,160,000.00. Following the transaction, the insider directly owned 2,136,223 shares of the company’s stock, valued at approximately $9,228,483.36. This represents a 18.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have purchased 11,000,000 shares of company stock valued at $36,460,000 and have sold 726,148 shares valued at $3,115,783. 12.54% of the stock is owned by company insiders.

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.