Hsbc Holdings PLC Has $12.92 Million Holdings in Transocean Ltd. $RIG

Hsbc Holdings PLC lifted its holdings in shares of Transocean Ltd. (NYSE:RIG) by 604.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,117,030 shares of the offshore drilling services provider’s stock after purchasing an additional 2,674,466 shares during the quarter. Hsbc Holdings PLC owned 0.28% of Transocean worth $12,920,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Dalal Street LLC acquired a new stake in Transocean during the third quarter worth approximately $76,260,000. Ghisallo Capital Management LLC acquired a new position in Transocean in the 3rd quarter valued at $57,720,000. Vanguard Group Inc. lifted its position in shares of Transocean by 19.3% during the 3rd quarter. Vanguard Group Inc. now owns 94,519,248 shares of the offshore drilling services provider’s stock valued at $294,900,000 after acquiring an additional 15,315,289 shares during the period. Zimmer Partners LP acquired a new stake in shares of Transocean during the 3rd quarter worth $30,262,000. Finally, Barclays PLC grew its holdings in shares of Transocean by 230.6% during the 4th quarter. Barclays PLC now owns 10,802,664 shares of the offshore drilling services provider’s stock worth $44,615,000 after purchasing an additional 7,535,041 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RIG has been the subject of a number of analyst reports. Clarkson Capital downgraded Transocean from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 19th. Susquehanna increased their price objective on shares of Transocean from $7.50 to $8.00 and gave the stock a “positive” rating in a research note on Tuesday, April 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Transocean in a report on Tuesday, April 21st. TD Cowen boosted their target price on shares of Transocean from $5.50 to $6.00 and gave the company a “hold” rating in a research report on Wednesday, May 6th. Finally, Barclays raised shares of Transocean from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $6.00 to $8.00 in a report on Thursday, May 7th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $6.96.

Transocean Price Performance

Transocean stock opened at $5.21 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.54. Transocean Ltd. has a 52 week low of $2.51 and a 52 week high of $7.66. The stock has a market capitalization of $5.81 billion, a P/E ratio of -1.75 and a beta of 1.28. The stock has a fifty day moving average of $6.23 and a 200-day moving average of $5.70.

Transocean (NYSE:RIG) last released its quarterly earnings data on Monday, May 4th. The offshore drilling services provider reported ($0.03) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same period last year, the business earned ($0.10) earnings per share. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. On average, sell-side analysts expect that Transocean Ltd. will post 0.17 earnings per share for the current fiscal year.

About Transocean

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.