Transocean Ltd. $RIG Holdings Increased by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC grew its stake in shares of Transocean Ltd. (NYSE:RIG) by 426.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,523,548 shares of the offshore drilling services provider’s stock after buying an additional 2,044,544 shares during the quarter. Brandywine Global Investment Management LLC owned about 0.23% of Transocean worth $10,422,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. CenterBook Partners LP bought a new stake in shares of Transocean during the 4th quarter worth about $2,891,000. Los Angeles Capital Management LLC bought a new stake in shares of Transocean during the 4th quarter worth about $119,000. Tradition Wealth Management LLC bought a new stake in shares of Transocean during the 4th quarter worth about $41,000. Havemeyer Place LP bought a new stake in shares of Transocean during the 4th quarter worth about $891,000. Finally, WINTON GROUP Ltd bought a new stake in shares of Transocean during the 4th quarter worth about $766,000. 67.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Morgan Stanley boosted their target price on shares of Transocean from $5.00 to $7.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 15th. Clarkson Capital downgraded shares of Transocean from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 19th. Barclays upgraded shares of Transocean from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $6.00 to $8.00 in a report on Thursday, May 7th. Susquehanna boosted their price target on shares of Transocean from $7.50 to $8.00 and gave the company a “positive” rating in a report on Tuesday, April 7th. Finally, TD Cowen boosted their price target on shares of Transocean from $5.50 to $6.00 and gave the company a “hold” rating in a report on Wednesday, May 6th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $6.96.

Transocean Stock Down 4.8%

RIG stock opened at $5.88 on Wednesday. Transocean Ltd. has a 52-week low of $2.51 and a 52-week high of $7.66. The company’s 50 day simple moving average is $6.48 and its 200-day simple moving average is $5.59. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.54 and a quick ratio of 1.20. The firm has a market capitalization of $6.56 billion, a P/E ratio of -1.97 and a beta of 1.28.

Transocean (NYSE:RIG) last released its quarterly earnings results on Monday, May 4th. The offshore drilling services provider reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.10). Transocean had a negative net margin of 66.79% and a positive return on equity of 0.88%. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the prior year, the firm earned ($0.10) EPS. The firm’s revenue was up 19.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Transocean Ltd. will post 0.17 EPS for the current year.

Transocean Company Profile

Transocean Ltd. is a leading international provider of offshore contract drilling services for the oil and gas industry. The company specializes in the operation of mobile drilling units, including ultra-deepwater drillships, semisubmersible rigs and high-specification jackup rigs. Transocean’s fleet is designed to meet complex drilling requirements, from ultra-deepwater well construction to shelf exploration and development projects.

The company’s core services encompass the full spectrum of offshore drilling operations, including project and engineering management, marine operations, drilling supervision, and maintenance support.